Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Dyno Nobel (formerly Incitec Pivot) exhibits both positive and negative engagement with science-aligned climate policy, yet its recent transparent engagement appears to be largely limited to top-line messaging on climate policy. Dyno Nobel is a member of several industry associations engaging negatively with climate policy, including the Chamber of Minerals and Energy of Western Australia, the Minerals Council of Australia, the National Mining Association, and the Queensland Resources Council.
Top-Line Messaging on Climate Policy: Dyno Nobel’s top-line messaging on climate policy is largely positive. The company has repeatedly supported the Paris Agreement and the Nationally Determined Contributions of the countries in which it operates, for example in its March 2025 Climate Change Policy. While the company appeared to support a price on carbon in the same document, its position on the need for other forms of climate regulation is unclear.
Engagement with Climate-Related Policies: InfluenceMap has not found evidence of transparent engagement by Dyno Nobel with climate-related policy in recent years. However, in its September 2022 consultation submission on the Australian Government’s Safeguard Mechanism reforms, the company called for several exceptions that risked undermining the climate ambition of the reforms, including the extension of multi-year monitoring periods to 10 to 15 years, without referencing the risk of this delaying emissions reductions until after 2030. Yet, in the same submission, Dyno Nobel broadly supported the development of an economy-wide transition plan in Australia to reach the country’s 2030 GHG emissions reduction targets.
Positioning on Energy Transition: Dyno Nobel’s recent positioning on the energy transition is very limited. However, in a December 2024 interview in The Australian, Chief Executive Mauro Neves de Moraes emphasized concerns around the economic feasibility of a move away from fossil gas in the energy mix, stating that the energy transition should not be at the expense of the local economy and jobs.
Industry Association Governance: Dyno Nobel has disclosed a review of its alignment with its industry associations in its Climate Change Report 2024, however its disclosure appears to exclude its membership to the Chamber of Minerals and Energy of Western Australia (CME). In its review, the company found partial misalignment between its positions on climate and the climate-related advocacy of eight of its industry associations, including Manufacturing Australia, the Minerals Council of Australia (MCA), the National Mining Association (NMA), and the Queensland Resources Council. Dyno Nobel retains membership to several associations that display oppositional climate policy engagement, including the CME, which advocates for a prolonged role for fossil gas in the energy mix.
A detailed assessment of the company's review of its climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2025.