Fuel Cells & Industrial Batteries
Each section below relates to the TPT Disclosure Framework principles of Action and Accountability. The below provides further guidance for sub-elements 4.1 and 4.3. The TPT welcomes comments on this guidance to ensure it is as useful as possible for preparers and users. The text is open for comment until Friday, 24 November. Please select the feedback form at the bottom of the page. The final text will be updated in February.
The Fuel Cells & Industrial Batteries industry consists of companies that manufacture fuel cells for energy production and energy storage equipment such as batteries. Manufacturers in this industry mainly sell products to companies for varied energy generation and energy storage applications and intensities, from commercial business applications to large-scale energy projects for utilities.
Note: For the purposes of SASB standards, this industry does not include fuel cells or batteries used in light automotive vehicle applications.
1. Scale mass manufacture of fuel cells and industrial battery technologies2
- increase manufacturing capacity, utilisation rates, and support installation of fuel cells and industrial batteries; and
- collaborate with innovators and other industries for shared R&D and technology integration.
2. Reduce carbon intensity of manufacturing process2
- purchase onsite generation of zero-carbon electricity;
- electrification of low-to-medium heating applications; and
- conduct energy efficiency audits.
3. Decarbonise supply chains7
- encourage the recycling of batteries and fuel cell components to reduce the need for raw material extraction.
4. Minimising product lifecycle impacts through innovation in product design and business practices4
- encourage the use of responsible mining practices for raw materials (e.g. nickel, steel, cobalt);
- promote recycling and circular economy approaches;
- support battery energy storage solutions (BESS) solutions to replace diesel or gas generators; and
- incorporate sustainable design in projects. (e.g. land use optimisation, habitat conservation, water consumption).
5. Support Emerging Battery Technology6
- invest in R&D to enhance the cycle life and energy density of batteries (e.g. flow batteries).
- total energy consumed (GJ)
- percentage grid electricity
- percentage renewable;5
- average storage capacity of batteries, by product application and technology type (specific energy, Wh/kg);5
- average energy efficiency of fuel cells as electrical efficiency and thermal efficiency, by product application and technology type;5
- average battery efficiency as coulombic efficiency, by product application and technology type;5
- average operating lifetime of fuel cells, by product application and technology type;5
- average operating lifetime of batteries by product application and technology type;5
- percentage of products sold that are recyclable or reusable;5
- weight of end-of-life material recovered, percentage recycled;5 and
- batteries sold (units, and total storage capacity of batteries / energy production capacity of fuel cells).5
- Scope 1 emissions from the manufacturing of fuel cell batteries (e.g. from natural gas);4
- Scope 1 emissions from the transportation within entity operations (e.g. movement of materials on-site using entity vehicles);4 and
- Scope 3 emissions from sourcing raw materials (e.g. nickel, steel, cobalt).7
Fuel Cells & Industrial Batteries literature
- Climate Bonds, Electricity Grids and Storage Criteria, 2021
- International Energy Agency, Batteries and hydrogen technology: keys for a clean energy future, 2020
- International Energy Agency, Energy Storage, 2022
- International Energy Agency (IEA), ETP Clean Energy Technology Guide, 2022
- IFRS, [Draft] Industry-based Guidance on Implementing IFRS S2, 2022
- McKinsey & Company, Enabling renewable energy with battery energy storage systems | McKinsey, 2023
- Science Based Targets Initiative, Quick start guide for electric utilities , 2021
The TPT welcomes comments on the Sector Summary to ensure it is as useful as possible for preparers and users. The Sector Summary was open for comment until Friday 24 November and, following consideration of the feedback received, will be updated in February. Thank you to the industry experts who provided comments.