As Australian companies increase their efforts to reach net-zero targets, Fyfe is handling an increasing number of emission reduction projects.
This aligns with the increasing priority governments and businesses are giving to emissions reductions, in response to shareholder expectations and consumer demand for carbon-conscious companies. In addition, Fyfe’s expertise extends to hard-to-decarbonise industries like energy and mining, where we have experience developing comprehensive emission-reduction strategies.
Identifying and evaluating opportunities for reductions
Depending on the business and the industry it operates in, there are several ways to reduce emissions. We help businesses identify and critically evaluate these methods against numerous factors.
Working with the company, we identify, highlight and discuss potential opportunities, and an overall strategy, often introducing emerging technologies and opportunities the company hasn’t yet considered.
Emissions reduction opportunities could be as grand as a new energy recovery facility, or as small as improving the existing equipment’s efficiency.
Once opportunities have been identified and flagged for further examination, we assess these considering, among other factors, the technical feasibility, economics, and environmental significance of each opportunity.
Economics
For every opportunity, high-level estimates of costs (i.e. CAPEX and indicative ongoing operating costs) are assessed against potential savings. Savings can come from reductions in fuel gas or diesel consumption, electricity usage, and so on.
We apply a holistic approach to determining costs and savings.
Technical feasibility
We identify how these opportunities can work within the company’s existing assets, the overall impact and whether these opportunities affect current design or safety layers (i.e. if implementing an idea will negatively impact risk exposure).
This section of the analysis requires deep familiarity and proficiency with the systems where the opportunity will sit, and where Fyfe’s impact is most appreciated.
Fyfe’s experience with gathering systems and processing facilities means we provide sound and well-founded technical advice.
Environmental significance
In addition to the economic benefits, emissions reduction is of equal, if not greater, significance. There could be options that are highly attractive economically but have a low impact on emissions reductions.
Environmental significance is examined according to how much an opportunity contributes to a net-zero target.
To make it clear whether an opportunity is worth progressing to the conceptual and engineering design stages, we use our in-house ranking system which can be tailored to each client’s needs.
When following the above approach for a client, we found a wide range of results. Our system has helped them allocate funds to the right projects.
A rigorous approach yields the best results
Examining emissions reduction ideas rigorously before progressing to the next engineering stages saves our clients money in the long term.
A systematic approach to grading opportunities helps our clients’ decision-makers know where to allocate funds. And we have the opportunity to evaluate unique and emerging technologies.
For example, we’ve worked on a conceptual design involving an Organic Rankine Cycle, which is used overseas but is yet to be used in Australia.
There is no universal approach to emissions reduction, but rather one that’s tailored to each client’s unique role and operations.
As Australia transitions to net-zero emissions, the importance of reducing emissions is now impossible to ignore. If your business has unoptimised operations, or you’d like assistance evaluating your CO2 footprint, please get in touch with our team.
