Domino’s Pizza commits to net zero by 2050, details huge expansion plans

Domino’s Pizza has joined a growing number of major companies making the carbon emission pledge, while also outlining expansion plans.

Domino’s Pizza is pushing ahead with massive expansion plans and joined the growing number of companies committed to net zero emissions by 2050.

The company has also warned it expects to be faced with higher food and energy costs next year.

The fast food behemoth held its annual general meeting and provided a trading update on Wednesday.

Chief executive Don Meij said its network was already 15 per cent bigger than this time last year through new store openings and acquisitions.

There are 3169 stores in the network and the plan is to more than double that number by next decade.

“We have a busy new store pipeline and this year, we aim to open a record number of new stores,” Mr Meij said.

“Indeed, we are targeting FY22 to be the largest expansion of our store footprint in our company’s history.

“We also remain active in pursuing additional markets.”

Over the next three to five years, Domino’s is targeting 9-12 per cent new store growth, and chairman Jack Cowan gave more detail in his speech to investors.

“Where other businesses in our category or broader industry immediately went on the defensive when Covid-19 arrived, Domino’s Pizza Enterprises expanded our presence – opening more stores, marketing to more customers, donating more meals to the community,” Mr Cowan said.

“With the acquisition of Taiwan, our tenth market, and a review of our modelling, Domino’s now expects to operate more than 6650 stores by 2030.

“We foresee significant upside beyond 2033 in our existing businesses, particularly Europe and Asia.”

Mr Meij said the network in both regions were “planned to be bigger than the entire Domino’s Pizza Enterprises of today”.

Mr Meij said Domino’s would, in the next 12 months, set time-bound and science-based targets with an interim goal and a commitment to reach net zero greenhouse gas emissions before 2050.

“We are embracing this responsibility to take action now, and inspire our industry and supply chain partners.”

He said Domino’s would partner with Compassion in World Farming on the company’s Better Chicken Commitment, expanding its pledge for Europe to include Australia and New Zealand.

“We have also expanded our offerings to vegan, vegetarian and flexitarian customers, with plant-based cheeses and alternatives to our traditional proteins,” Mr Meij said.

On expected higher food prices in 2022, Domino’s said long term contracts would provide some buffer.

Shareholder activist Stephen Mayne asked Mr Cowan, aged 79, whether he planned to emulate the boss of the publisher of this title – News Corp chairman Rupert Murdoch – in continuing his career into his 90s.

The executive said that “may be wishful thinking”.

“I may not be that lucky but that would be my desire,” Mr Cowan elaborated.

Originally published as Domino’s Pizza commits to net zero by 2050, pushing ahead with massive expansion plans

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Scotty departs for Scotland for major climate talks

The Prime Minister is set to face world leaders for the first time since committing Australia to carbon neutral by 2050.

Prime Minister Scott Morrison has flown off for key climate talks with a commitment but without finalised modelling for his plan.

Mr Morrison will meet with world leaders first at the G20 leaders’ summit in Rome before travelling to Glasgow for the much anticipated United Nations COP26 climate summit.

It is the first in-person gathering of the leaders of the world’s biggest economies since the pandemic started.

Energy and Emissions Reduction Minister Angus Taylor will accompany the Prime Minister on his VIP jet “Shark One”.

In a statement prior to his departure, Mr Morrison said the pandemic and climate would be at the top of his agenda during his time overseas.

“These important international meetings come as the world has reached a critical point in our health response and economic recovery from the Covid-19 pandemic, and our collective effort to address the challenges of climate change,” Mr Morrison said.

“COP26 will be crucial in the global effort to address the challenges of climate change.

“I look forward to supporting Prime Minister Johnson, as host of COP26, to achieve our Paris Agreement objectives and collaborate to collectively deliver net zero emissions by 2050.”

Also on Mr Morrison’s agenda will be his pitch to leaders to thwart the power of social media giants.

“We need to fully harness the benefits of digitalisation, but in doing that, making sure the rules that apply in the real world, apply in the digital world,” he told reporters earlier on Thursday.

“I will continue to press, as Australia always has, and show the leadership on this issue globally that we must hold social media platforms to account.”

After a turbulent week in parliament, the arrival of the COP26 summit will bring little relief to Mr Morrison, who is set to face calls to lift Australia’s climate targets beyond his 2050 pledge.

In the days since his policy release, Mr Morrison has copped criticism for the strategy, which lacks a solid 2030 commitment.

Instead, Mr Morrison will take projections to Glasgow, which, if reached, could reduce Australia’s emissions by 30 to 35 per cent by 2030.

He’s also set to be reunited with former colleague Mathias Cormann, who is likely to press Australia to adopt stronger climate targets – including a carbon pricing scheme.

In a statement overnight, Mr Cormann said progress across G20 nations remained “uneven”.

“G20 economies are lifting their ambition and efforts, including through the explicit and implicit pricing of carbon emissions,” the Organisation for Economic Co-operation and Development secretary-general said.

“However, progress remains uneven across countries and sectors, and is not well enough coordinated globally.

“We need a globally more coherent approach which enables countries to lift their ambition and effort to the level required to meet global net zero by 2050, with every country carrying an appropriate and fair share of the burden while avoiding carbon leakage and trade distortions.

“Carbon prices and equivalent measures need to become significantly more stringent and globally better coordinated to properly reflect the cost of emissions to the planet, and put us on the path to genuinely meet the Paris Agreement climate goals.

OECD analysis found Australia ranked 11th out of 18 countries for carbon pricing, which Australia imposes through fuel excise.

Australia does not have a carbon pricing scheme following the repeal of the Gillard government’s carbon tax in 2014.

Mr Cormann will also attend the G20 talks and COP26 climate summit.

The Prime Minister has previously said he will not introduce a carbon pricing scheme.

Originally published as Scott Morrison departs for Glasgow armed with a net zero commitment but without modelling

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‘Secret’ modelling underpinning Scott Morrison’s net zero policy still in spreadsheet form

Scott Morrison has been under fire for not releasing the modelling underpinning his major net zero commitment, but there’s a good reason why.

The modelling underpinning Scott Morrison’s strategy for a carbon neutral future cannot be published because the department tasked with the job has yet to finish the report.

The Prime Minister has been under pressure to release the modelling that shaped the net zero commitment he is set to take to a UN climate summit in Glasgow next week.

But officials from the Department of Science, Industry, Energy and Resources (DSIER) on Thursday revealed the report had not been finalised and work continued while Mr Morrison’s plan was deliberated in cabinet on Monday evening.

“We will make that material public within the next few weeks, and indeed, I can confirm that we are finalising the writing up of that work,” Deputy secretary Jo Evans told a Senate estimates hearing.

“You can appreciate that it’s quite a complex set of material, and as the plan was only finalised on Tuesday, we need to make sure we have written that technical work up.

“The actual modelling of course had been finalised at that point, but the write up of it, we just need to take a little bit of extra time.”

Ms Evans stressed the modelling work had been completed and the report needed additional time to ensure it was accessible to the public.

“We will publish it when we put it into a form that is suitable for putting to the public domain so that it’s understandable,” she said.

Asked what format the work was currently in, Ms Evans said: “Spreadsheets and finalised and technical reports that are designed for an audience that is more sophisticated in terms of how it will understand results.”

DSIER insisted the modelling would be released in the coming weeks in line with the promises made by Mr Morrison earlier in the week.

Asked about Ms Evans’ comments in question time, Mr Morrison stuck to his “technology, not taxes” lines.

“That document will be released in the next few weeks and it will be there, and they will be able to see it and they will be able to see that what it does through the plan that we are putting in place with technology, not taxes, with respecting people’s choices,” he said.

The nation’s chief economic forecasters on Wednesday told estimates they had provided limited advice on the impact of a net zero target but two staff had been seconded to DSIER to assist with its modelling.

Treasury secretary Steven Kennedy also conceded his department hadn’t undertaken any modelling on the economic costs of climate change in the “last few years”.

“I don’t know whether it is eight years – but we haven’t done it at least for the last few years,” he said.

Under Mr Morrison’s plan to reach net zero, more than $20bnwill be invested in low emissions technologies, including carbon capture and storage.

Mr Morrison also unveiled new projections, which if reached, could reduce Australia’s emissions by 30 to 35 per cent by 2030.

Originally published as ‘Secret’ modelling underpinning Scott Morrison’s net zero policy still in spreadsheet form

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Climate Change COP26: Kevin Rudd critical of Prime Minister Scott Morrison

Kevin Rudd has warned world leaders will see through Scott Morrison’s plan to achieve net zero emissions by 2050.

Former Prime Minister Kevin Rudd has described Scott Morrison as a “C-grade Boris Johnson” and warned world leaders at the COP26 conference will see through his plan to achieve net zero emissions by 2050.

Under Mr Morrison’s plan announced on Tuesday, more than $20bn will be invested in “low emissions technologies”, but the modelling will not be released until later.

Mr Morrison will soon travel to Glasgow for the United Nations Climate Change Conference, but Mr Rudd warned the Prime Minister would likely face some criticism from other leaders.

“I think, for example, you could rely upon the European Union and probably the United States to finger Morrison for, frankly, this duplicitous,” he told the Democracy Sausage podcast.

“The 2050 carbon neutrality debate is a done deal. The real action is what governments are now committing to by way of their renewed, redefined, near-term carbon reduction targets for this decade 2020 through until 2030.

“That’s where the rubber hits the road … most governments are in the business of advancing reductions of around about 50 per cent against 2005 levels of their current greenhouse gas emissions.

“That’s certainly where the Americans have gone, that’s where most of the other majors have gone … so right now, we are a shag on a rock in terms of 2030.

“The illusion being created … is somehow there’s been a Damascus Road conversion and there’ll be garlands of flowers thrown out on the path as Morrison makes his way to the conference centre in Glasgow — nothing could be further from the truth.”

Mr Rudd also hit out at the Nationals, describing the party as “quite corrupt”.

“They’ve ceased to be a party for anything or anybody other than themselves,” he said.

In a wide-ranging interview, Mr Rudd also spoke about Australia’s nuclear-powered submarine deal with the UK and US, scrapping its previous arrangement with France.

“The net consequence of what’s happened, I think is … it’s not just alienating the French, but you’ve actually turned the French into a hostile agent against Australian interests regionally and globally,” Mr Rudd said.

“(Also), you’ve established a reputation sovereignly for Australia as a country which doesn’t honour its contracts — not good.

“I think most critically … we have now at present the illusion of nuclear-powered subs arriving in this country sometime in 2030s, possibly not until the 2040s, and us being left strategically naked on the way through.

“I find that the most absolutely irresponsible element of this entire equation … I wonder where the grown ups in the room have been during these discussions.”

Originally published as Kevin Rudd criticises Scott Morrison’s plan to achieve net zero emissions by 2050

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Angus Taylor questioned over Morrison’s climate change emissions reduction plan for net zero

Energy Minister Angus Taylor has come under fire over several potential shortcomings in the Morrison government’s net zero emissions plan.

Energy Minister Angus Taylor appeared unable to name a single new emissions reduction policy contained in the Morrison government’s climate change “plan” during an interview on Tuesday night.

Prime Minister Scott Morrison earlier announced Australia would commit to achieving net zero carbon emissions by 2050, following much internal division within the Coalition caused by disagreement between the Liberals and the Nationals over the target.

Under the plan announced by Mr Morrison, more than $20bn will be invested in “low emissions technologies”, including carbon capture and storage, by 2030.

But the plan will not be enshrined in law and its specifics, including the modelling which supports it, will not be released until a later, unspecified date.

Mr Morrison said projections show Australia is on track to cut emissions by 30 to 35 per cent by 2030, but the formal target of a 26 to 28 per cent reduction on 2005 levels would remain.

ABC7.30 host Leigh Sales grilled Mr Taylor over the plan, asking him: “How is this an ambitious plan when none of the policies in it are new, when it’s not legislated and when there are no short-term benchmarks against which to measure progress?”

Mr Taylor told the ABC the government had been developing policies to support the plan for several years and rattled off a list, including investments in the Australian Renewable Energy Agency and the “technology investment road map” it released last September.

“That plan today made the point that those policies will get us within range of net zero by 2050,” Mr Taylor said, appearing to concede there are no new policies involved.

The Prime Minister is days away from flying to Glasgow for the crucial United Nations COP26 climate change summit, where he is expected to unveil Australia’s plan for net zero after facing significant international pressure.

Ms Sales asked Mr Taylor if Mr Morrison would be going to the conference to say Australia is “not going to do anything extra or new”.

Mr Taylor replied: “We have been doing much new in recent times”.

He said Australia could achieve net zero by investing in a technology portfolio that would curtail emissions while strengthening traditional industries such as agriculture, manufacturing and resources.

In the Morrison government’s plan, 15 per cent of the planned emission reduction is earmarked for technologies that haven’t been invented yet.

Originally published as Energy Minister Angus Taylor grilled over new emissions reduction ‘plan’

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Scott Morrison’s late night climate promise

Scott Morrison has sought to alleviate concerns over his newly announced net zero target in a late night interview.

Scott Morrison has used a late-night interview to pitch his newly-released climate plan, rejecting concerns the government has broken a promise not to increase climate targets.

Mr Morrison on Tuesday outlined his plan to reach net zero ahead of his trip to a major UN climate summit in Glasgow. Under the plan, more than $20 billion will be invested in low emissions technologies including carbon capture and storage.

The Prime Minister also unveiled new projections, which if reached, could see Australia reduce emissions by 30 to 35 per cent by 2030.

Speaking with Sky News, the Prime Minister declared “nothing has changed” and insisted the shift towards a carbon neutral future was consistent with his rhetoric at the 2019 election.

“Well in 2019 there was two plans. There was Bill Shorten’s plan which he said he wanted to reduce emissions by 2030 by 45 per cent and there was our plan to reduce it by 26 to 28 per cent, ” Mr Morrison said.

“Now that’s what we’ve gone ahead with. The 45 per cent plan was rejected.”

Seeking to assure voters, Mr Morrison insisted the government had not backflipped on previous proposals and the and the last election was decided on 2030 targets, not net zero.

“Nothing has changed at all,” he declared.

“There was no discussion of net zero by 2050 at the last election. That wasn’t the debate … It was a choice between those two 2030 plans.”

Mr Morrison said he couldn’t shield the country from climate change – or the global fallout from perceived policy inaction.

“I said I would only ever contemplate (net zero) if we had a plan that enabled us to achieve it,” he said.

“We can’t just pretend these things aren’t going to happen from overseas. These things are occurring.

“And as Prime Minister I need to protect Australia from those impacts, decisions being made in other parts of the world, gonna have an impact here.

“Our plan helps us both protect Australians from that and realise the opportunities so we can succeed as we have all along.”

Addressing the concerns of the “quiet Australians”, Mr Morrison vowed Australia would keep mining and farming.

“We‘re not asking anything to be closed down. We’re going to keep digging, we’re going to keep mining, we’re going to keep farming,” he told Sky News.

“We’re going to keep doing all of these things, and nothing in our plan is about shutting any of those things down.”

Earlier, Mr Morrison dismissed comments he had been forced to this position by the United States and the United Kingdom.

He also denied the signing of the AUKUS agreement was contingent on adopting more robust climate targets.

“We decide what our policy is here, and this is in Australia‘s interest to do this,” he told 6PR.

“That said, of course, they have some strong views on this but their plans are different to ours, they’re going down a different path.”

On nuclear power, Mr Morrison told Sky News he would not subject Australians to the debate, considering it did not have bipartisan support.

“Right now there’s a moratorium on nuclear (energy) here in Australia and the Labor Party are totally opposed. And I’m just not going to put Australia through the argument,” he said.

Originally published as Scott Morrison pitches climate plan in late night interview

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