Assessment 2: Sustainability Report
Qantas Airlines have been holding major business with customer transport using complementary airline brands of Qantas and Jetstar. The company has been operating under regional, domestic or the international services. The airline involves business transport of customers through brands operating with loyalty programs that undertake different activities with earning points and including the retail partnership as well. The discussion is about Qantas Sustainability Report which highlights on adopting to impression management strategies and how the strategies are being used in an effective manner. We will also be discussing about the changes that are possible for the change to impression management practices with improvement on strategies and also being consistent to the guiding principles or goals for GRI too.
Table of Contents
Considering the current company situation, it is seen that one needs to primarily understand about being involved in sustainability framework. The airline tends to commit for the net zero emissions by 2050, where there are updates on Corporate Strategy Framework in reference to sustainability. The Qantas Group works on the different corporate strategy with valuing planet or enabling people or connecting the customers or communities too for supporting vision. It is for driving the complete sustainability for protecting the future travel too. The strategic plan of Qantas has been about a strong, ethical business to provide and service customers or community to align towards growth of Asia. The investment are in customer, brand or the focus is on people, culture or leadership too. The valuing of planet includes enabling people or sustainability framework for connecting customers or communities along with enhancing diversity which is in respect to human rights, or the Aboriginal and Torres Strait Islander Partnership (Qantas Sustainability Report, 2022).
As per the analysis on Qantas 2022 Sustainability Report, the firm has been able to make a major progress for the different areas that relates to sustainability over the past financial market period. It includes reduced emissions of carbon along with improving standards of waste management practices and increased use of renewable energy as well. Considering this, there are terms related to emissions of carbon where Qantas has been able to achieve 9% of reduction per passenger kilometre from 2010. As per the initiatives, it includes that there is a more efficient aircraft with the use of biofuels which includes offsetting of emissions through programs of carbon offset majorly. Qantas has been able to set target for reaching towards the net zero emission by the year of 2050. It is about handling the waste management and then working over achievement of 63% of reduction of waste to landfill from 2010 (Higham et al., 2022). The initiatives includes introduction of sustainable packaging or then using recycled materials, or there are diversions of food wastes to handle compositing and the feeding programs of animal too. Qantas set to achieve target with the zero waste that is for landfill with 2030, and then there are renewable energy where Qantas has increased through used forms of renewable energy. It is from 2% which is in 2010 in 20% in 2020. This is then driven through initiatives with installing panels of solar and then there are purchase related to energy credits which is renewable too. Qantas set to target panels with 50% of renewable energy by the year of 2025.
The climate change strategy includes the acknowledgment for operational and efficiency of fleet, with embracing for new and low emission technology. There are zero emission technology that includes hydrogen propulsion, and the hydrogen cell fuel and the electrical powered aircraft which are available. The sustainable aviation fuels are related to working with government, industry or business that helps in determining and advancing for non-biogenic and synthetic produced from carbon dioxide (el Moussaoui, 2021).
The natural capital and biodiversity is about Australia unique natural environment with the tourism that is for understanding the natural capital which includes management of risks. The disclosure framework is for organization to evolve and then work on the nature related risks to support and handle valuing of nature or the recommendations through certain kind of innovative solutions. The offset strategy is for investing and protecting environment of Australia, with credible and nature based solution.
Qantas Sustainability Report includes the comprehensive report with covering a broader range of topics that relates to environmental company or social impact. The report includes standards of the company environmental standards and report related to carbon footprint of Qantas, and water usage or management of waste too. The report includes the discussion of progress for Qantas towards sustainability goals with target for carbon neutral by 2050. The report is well-written includes easy to understand process, with lot of data and information which is then presented clear and concise manner. The report includes comprehensive covering wider range of topics that relates to impact of sustainability. The report include positive impact on company practice of accounting (Abdi et al., 2022).
The climate action strategy is about the ambition, action or enablers which are for targeting and focusing on reduced environmental footprint with increased cost of operation and efficiency of fuel at the average. The Sustainable Aviation Fuels (SAF) includes the investment with ability to work with industry on step change of technology. The actions are the initiatives with fleet modernization or constellation flight planning, that is for handling ground transport, and experience customer for developing sustainable options for products of customers and the services. The governance is about the enablers focusing on allocation of capital and other financial work that includes internal carbon pricing and the climate risks or policies. The analysis include the improvement and understanding future strategy where the physical risks assessment are important to be considered with change of frequency and intensity for different events of climate (Vilén, 2020). The changes are applicable for the global scenarios with key physical risks findings that include 15% of the percentage increase which are related to disruptions of weather by 2050. The natural capital and diversity is also for understanding the Financial Disclosures and handling the opportunities related to degradation too.
The examples are related to the climate scenario analysis where the Group works on updating the data and the analysis include certain regulatory changes. The other change s about the frequency and intensity for different change of climate and then this is modelled through applied Group historic weather delay and the cancellation of data with assessing to the changes as well. The analysis is about the risks of transition along with the outlining of strategy to work on mitigating exposures and investing on the offset of carbon projects with forward purchasing on a higher offsets of integrity. The procuring of offsets is from the project of carbon which is accredited and verified through working for the suppliers and verify on the quality of the credits purchased too (Kim et al., 2021).
The company Qantas work on strategic approaches with maximised response to lead domestic positioning through the dual brand strategy. One needs to leverage home market strength and the dual brands working on building an international business or aligning to Qantas and JetStar for the growth of Asia. The diversified opportunities involve growth or Qantas loyalty with investing in customer or the brand date and digital forms too.
The other example is about the reduction of waste which involves COVID 19 health and safety measures which needs to handle sustainable design for products and services. The waste reduction includes working with employees, suppliers or customers to drive on reduction of waste initiatives which include the minimization of waste and the efficient inflight or operations of ground too. The introduction of innovative forms include packaging alternatives with removing single use plastics and reducing the wastes for landfill too.
GRI includes helping business and government with identifying and communicating effects on issues with sustainability for changed climate too. This is for human rights, governance or social well-being that allows action for bringing social, environmental or the economic benefits. The GRI sustainability reporting standards include true contribution where there are multiple stakeholders that are involved with rooting for interest of public. GRI works on vibrant globalized society that elevates over mankind and then strengthen resources over life dependency and purpose for GRI too. The authorised decisions is for bringing, social, economic or environmental benefits for all. GRI reporting includes voluntary standards in Australia with business following G4 guidelines and the new Global Framework for Reporting too (Wills, 2022).
The focus is on FY23 which will include Qantas working over introduction of new initiatives and promoting tourism which is a major part for better strategy. The development of natural capital and the framework of diversity is on strategy that focus on the areas about high impact and influence. The recommendations are for drafting and informing on the nature related materiality impacts or dependencies which will help in addressing to risks and opportunities. The focus is on achieving a green tier rewards and recognition which is set at the sustainable level, with better lifestyle and reducing impact and ensuring a proper commitment with safety.
As per the Global Reporting Initiative Standards, there is a alignment of UN Global Compact with UN Sustainable Goals which is for the handling of sustainability Framework. The focus is on enhanced diversification for environmental solutions where Group extends focus on lens of carbon emissions along with handling ocean water quality. The enhanced assessment is for better opportunities for carbon offset which includes procurement or investment on carbon projects. The maintaining focus is on current programs that is for low carbon economy and helping Qantas Group to meet CAP commitments with reaching net zero emissions by the year of 2050. The GRI is about the Sustainability Strategy Plan with serving customers and community too. It includes inspiring challenges or opportunities that focus on people, culture or leadership.
The focus is on current programs with offsetting and being a key lever for global transition of aviation transition to a low carbon economy. This is set on building a network that is set for handling sustainability along with managing new ideas through collaborative innovation or action. The reduced waste comes through circularity with addressing impact through initiatives on waste reduction, innovation or the waste management improvement. Qantas approach is about responsible, respectful and resident approaches which are set to build a unique set and incorporating parts of employees. The safety is core which involves support by the comprehensive governance process with monitoring and managing performance or risks. The focus is on COVID 19 where FY22 includes Fly well program includes temporary and other existing measures for safeguard travel at the time of pandemic.
For understanding the F23, there are increased removal or the substitution over single use plastics that are set to work with employees. The suppliers and waste service providers tend to implement improved elimination of waste and diversion initiatives to reduce wastes to landfill under 2030 target. The engagement of customer includes green tier with recognition and rewards initiative which is designed to encourage and then recognize the Frequent Flyer Members for a sustainable choice. The customer engagement includes green tier with announcing a recognition or the rewards initiative which is designed over offset of flights and it includes the opting of offset with flights purchased. The working is based on making easy approaches for members to offset flights that include offset for flights purchased. Here, the working is with partners to expand the areas where the members can easily complete the activities that are sustainable towards the change of supporting behavioural standards.
The sustainability governance is for designing and enabling creation, protection or the protection of shareholder value that comes with responsible, ethical or the sustainable forms of practices from business. The approval of strategic directions is for Qantas Groups which can lead to overseeing environmental, social and governance policies as well. The report includes Sustainability Management Board that highlights on Safety, Health, Environment and Security Committee. The integration is for considering the financial framework where Qantas tend to align for the growth over the cycle. The optimal capital structure and the return is on the capital which is invested and it is also for handling competitive advantages or driving better value.
Abdi, Y., Li, X., & Càmara‐Turull, X. (2022). How financial performance influences investment in sustainable development initiatives in the airline industry: The moderation role of state‐ownership. Sustainable Development, 30(5), 1252-1267.
el Moussaoui, F. (2021). How has sustainability shaped communication and marketing in aviation industry?: A comparative case study.
Higham, J., Hanna, P., Hopkins, D., Cohen, S., Gössling, S., & Cocolas, N. (2022). Reconfiguring aviation for a climate-safe future: Are airlines sending the wrong message?. Journal of Travel Research, 61(6), 1458-1473.
Kim, H., & Son, J. (2021). Analyzing the Environmental Efficiency of Global Airlines by Continent for Sustainability. Sustainability 2021, 13, 1571.
Qantas Sustainability Report (2022). DRIVING SUSTAINABILITY TO PROTECT THE FUTURE OF TRAVEL. Reference at:< https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgyw/file/annual-reports/QAN_2022_Sustainability_Report.pdf>
Vilén, E. (2020). Biofuels, carbon offsetting, climate-related financial disclosures and materiality in sustainability reporting in the airline industry.
Wills, C. A. (2022). Towards a sustainable airline business model: addressing the forces impacting on European based airlines.