Climate Change Legal Proceedings – update

channelnz.com


NZX RELEASE
7 February 2024

Climate Change Legal Proceedings – update
As previously announced to the market, Channel Infrastructure, formerly Refining NZ, is one of seven named
respondents in proceedings brought in the Supreme Court relating to carbon emissions deriving directly or
indirectly from the respondents’ activities (Michael John Smith v Fonterra Co-Operative Group Limited And
Ors).

The Supreme Court has today allowed the appeal of the decision of the Court of Appeal which had
unanimously struck out this case against the respondents as being legally untenable. This means that
Channel, and the six other respondents would need to go to a full High Court hearing on Mr. Smith’s claim.

Like the other respondents in this case, Channel believes that Parliament, not the courts, is the appropriate
place to determine public policy on matters of significant public interest such as climate change.

Since these proceedings were originally filed in 2019, Channel Infrastructure has already taken significant
steps to decrease the environmental impact of its business through the permanent cessation of refining
activities and transition to an import terminal model, the contracting of long-term renewable electricity supply,
and other on-site initiatives at Marsden Point. As a result of the conversion of Marsden Point to import
terminal operations, the company has reduced its emissions by over 98% (>1 million tonnes of CO2 per
annum) and meeting all our electricity needs from renewable sources would mean that Channel will have
largely eliminated its direct emissions from 2024 - some six years ahead of the company’s target. Channel is
also now actively supporting the transition to lower-carbon fuel options for New Zealand, including through its
ongoing study with Fortescue Future Industries on the potential establishment of a green hydrogen and
eSAF manufacturing facility at Marsden Point to support decarbonisation of the aviation sector.

- ENDS -
Authorised by
Chris Bougen
General Counsel and Company Secretary

Investor Relations contact:
Anna Bonney
investorrelations@channelnz.com

Media contact:
Laura Malcolm
communications@channelnz.com

channelnz.com
About Channel Infrastructure NZ
Channel Infrastructure’s vision is to be a world-class infrastructure company, delivering resilient
infrastructure solutions to help meet changing fuel and energy needs.
Channel Infrastructure’s assets are a critical part of the Northland and Auckland fuel supply chain, supplying
around 40% of New Zealand’s transport fuel demand and all of the jet fuel to the Auckland International
Airport. Utilising the deep-water harbour and jetty infrastructure at Marsden Point, as well as 280 million litres
of storage tanks, and the 170-kilometre pipeline from Marsden Point to Auckland we receive, store, test and
distribute fuel owned by our customers. Channel Infrastructure’s wholly-owned subsidiary, Independent
Petroleum Laboratory Limited, provides fuel quality testing services at Marsden Point and around New
Zealand.
Channel Infrastructure will seek to support New Zealand’s decarbonisation ambitions, by utilising our
strategically-located assets and our expertise in supply chain infrastructure. The Company remains focused
on its future growth opportunities at the Marsden Point site and beyond, including additional fuel storage to
support fuel security and studies underway with partners on hydrogen and sustainable aviation fuel
opportunities.

For more information on Channel Infrastructure, please visit: www.channelnz.com