Sustainable Development

Todd Corporation is guided by a strong set of Operating Principles derived from the long-term stewardship of the businesses by the family owners, and an enduring commitment to responsible actions.

Sustainable development principles, associated with these core values, have long been an important focus of Todd family businesses and how they operate.

Our approach to sustainable development and related voluntary disclosures continues to evolve as management standards and reporting frameworks become better defined across industries.

As significant New Zealand energy businesses, Todd Energy and Nova Energy’s core foci is to help meet New Zealand’s energy needs now and in the future. While aiming to meet this demand and ensure New Zealand has a secure and reliable energy supply, we are committed to reducing greenhouse gas (GHG) emissions from Todd’s operations, contributing to community growth and wellbeing, enhancing biodiversity assets, and avoiding environmental impacts.

  • Reporting frameworks

    Through sustainable development reporting, we disclose our impacts, identify risks and opportunities, and keep track on progress on our commitments and targets.


    Global Reporting Initiative (GRI) Standards

    Our annual sustainable development report refers to the Global Reporting Initiative (GRI) framework. The GRI framework is a set of standards that enables companies to measure and communicate on environmental, economic, and social matters.


    Task Force on Climate-related Financial Disclosures

    The TCFD has helped guide our company to identify and disclose the impacts of material climate-related risks. We recognise the vital role the TCFD recommendations play in the transition to a low emissions economy.  


    United Nations Sustainable Development Goals  (UNSDGs)
    Todd acknowledges the potential of the 17 UNSDGs and the need for guidance in addressing the global challenges facing the international community. Our reporting aligns with a range of the UNSDGs, including affordable and clean energy; decent work and economic growth; life on land; and peace, justice and strong institutions.


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  • Targets

    Our sustainable development targets support New Zealand’s climate change response and aim to enhance the social and environmental outcomes of our work across the community.

    We commit to annual review of our targets, and improvements where possible. Setting intermediate targets will be a focus in 2023.


    Five-year targets (to 2025)

    We have committed to eight sustainable development targets with a target end date of 2025. The targets relate to energy and emissions; climate change; community contribution; and biodiversity and environmental management.


    Energy and emissions
    • Complete electrification of compression facilities which is expected to avoid ~300,000 tonnes of CO2e throughout the life the compressors (estimate is for Todd’s Scope 1 emissions and based on 2021 production profile).
    • Invest $2m in flare metering across Todd Energy NZ production facilities
    • Develop and implement a fugitive methane emissions programme at Todd Energy NZ


    Climate change
    • Invest $120m in renewable energy over a five-year period to 2025, either directly or in aggregate with a partner
    • Develop 100MW of solar energy capacity, either directly or with a partner


    • ~200% increase (30 ha) in biodiversity area planted and / or under management by 2025


    Indigenous community development
    • Double annual economic opportunity for local indigenous communities
    • Introduce a training and development programme specific to tangata whenua working in local industry


    Long-term emissions reduction target


    Net-zero Scope 1 & 2 emissions by 2045 

    Todd Corporation has adopted a target of becoming a net-zero company by 2045 on our Scope 1 and 2 emissions. 

    Todd’s carbon footprint span Scopes 1, 2 and 3.

    • Scope 1 emissions: direct emissions from fuel consumption and operational activity
    • Scope 2 emissions: indirect emissions associated with purchased energy
    • Scope 3 emissions: indirect emissions associated with the use of products that we sell, and supply chain emissions


    Reducing Todd’s Scope 3 emissions will naturally occur as and when natural gas end-users reduce their reliance on natural gas and/or switch to renewable energy. However, to expedite renewable energy uptake Todd will continue to research, identify, and progress opportunities with customers in this space including our grid-scale solar developments.

    Establishing a long-term emissions reduction target is consistent with New Zealand government policy and Todd’s commitment to supporting the transition to a low emissions economy at the lowest cost to New Zealanders

  • 2021 Sustainable Development Report

    Our 2021 Sustainable Development Report is Todd’s first publicly available Sustainable Development Report. Todd produced its first Sustainable Development Report in 2020 for internal purposes after conducting a pilot sustainability review.

    The 2021 Sustainable Development Report covers the 2021 year for Todd’s key operating businesses. The four reporting entities are the three businesses of Todd Energy, Nova Energy and Todd Energy Canada, and Todd’s corporate office in Wellington. 

    2021 Sustainable Development Report[25MB]