Baileys commissioned Pangolin Associates to conduct a Green House Gas (GHG) assessment to identify our total emission footprint. For the 2018/19 financial year, total emissions were assessed as 2,461 tonnes of CO2 equivalent. Australia's total emissions in the year to March 2019 are estimated to be 538.9 million tonnes CO2 equivalent.
To offset these emissions, Baileys have purchased Verified Carbon Units (VCUs) for wind energy projects which would otherwise have not been economical had they not been able to sell the VCUs. These wind energy projects likely replaced an emission intensive power source and thus create credits for the avoided emissions. The VCUs were then retired by Pangolin Associates on an international registry so they cannot be resold.
''In the voluntary offset market, there are low cost options of a few dollars per tonne of CO2 available currently so I would urge other business owners and executives to look into options as the financial impact will likely be less than you expect'', Mr Bailey said.
''Baileys are a very small emitter in Australia and even less so Globally, but everybody needs to play a part in avoiding the major impacts of climate change and hopefully our move will prompt further businesses to investigate and go carbon neutral'', he said.
Committed to sustainability, Baileys currently have a 70kW solar system providing approximately 15% of their power usage and feeding into the grid on weekends, and are looking at options for more solar to further reduce emissions. Baileys are also investing in upgrading machinery to improve efficiency, eliminate waste and reduce the emissions from their production process.
Baileys joins Clayton Utz and City of Fremantle who are also voluntarily carbon neutral. With additional third party auditing in future years, Baileys could join businesses such as Austral Fisheries, Medibank, PWC, Swisse and the Sydney Opera House, who are National Carbon Offset Standard (NCOS) certified Carbon Neutral to the Australian Government standard.