We regularly report on our environmental performance to a wide variety of stakeholders. Our first sustainability report details our key initiatives completed in the last financial year and outlines our future commitments and initiatives. Our key assets, the Waitaki and Manapouri power schemes, are located in areas of outstanding scenic beauty. Our future Meridian Energy is committed to achieving greater gains from the natural resources it uses to generate electricity. With sufficient demand for electricity produced from renewable sources it is possible to reduce the level of emissions from less efficient thermal plant.
Climate change is a topical issue in New Zealand and around the world.
While New Zealand grapples with how it will implement the Kyoto protocol, aimed at world-wide reductions in CO 2 emissions, in a fair and equitable manner, Meridian Energy is making its own positive contribution. Fitting new runners in the turbines at the Aviemore power station will make them significantly more efficient than the current turbines. The second Manapouri tailrace tunnel project involves drilling a second tailrace tunnel to reduce the current head loss from the first tailrace tunnel as a result of friction. In addition to these projects, Meridian Energy is supporting a number of industry initiatives through our Meridian Solutions products and our Target Zero project.