Torquay business makes net-zero pledge, as Labor outlines manufacturing plan

TORQUAY snow wear company XTM has outlined plans to reach net-zero carbon emissions by 2040 in response to climate challenges that pose direct threats to its core business.

The commitment has earned praise from federal Labor MPs, who would support high-tech producers with a $15 billion manufacturing investment fund if their party wins the upcoming federal election.

XTM, short for Cross The Mountain, achieved carbon-neutrality in 2009 through a combination of green initiatives and carbon offsets and will take its environmental commitment further after joining a worldwide industry pledge to reduce global climate impacts.

Its founder, Peter Forass, is a former Olympic alpine skier who moved to Torquay in 1999 to form the company, which specialises in ski apparel and accessories.

XTM now sells its products globally and is the official accessories supplier for Australia’s Winter Olympic team and the event’s local broadcaster, Channel Seven.

The company has grown while remaining committed to using natural fibres including Australian merino wool and said it had continued adapting with developments in climate science since its foundation.

“We realised the Earth’s in trouble if we keep going the way we’re going,” Mr Forass said.

“It was such an overwhelming thing to work out, like it is for all of us.

“But I decided I’ve just got to look after my own stuff, because that’s the only place you can start.

“We took the early decision to go carbon-neutral, and that set a whole lot of things in motion.”

XTM outlines its commitment to climate goals to visitors of its faux ski chalet-designed Torquay head office, with past and future milestones printed on the wall beside the main staircase.

The company last year joined a snowsports industry pledge to reach net-zero by 2040, in response to climate impacts which threaten alpine environments.

Its local head office already has a roof’s worth of solar power generation, plus a Tesla storage battery and rainwater tanks.

The company will aim to have all company cars electric, become landfill-free and transition suppliers in line with its net-zero goals by 2024.

XTM aims to slash its current carbon output by half by 2030 before reaching its ultimate end goal within the following decade.

Corangamite MP Libby Coker and Corio MP Richard Marles, the Opposition deputy leader, visited XTM last week to learn more about the Torquay business’s initiatives.

The Labor members indicated that the high-tech business could be a prime candidate for investment through the proposed National Reconstruction Fund, which would provide up to $15 billion in investment for industries that would make Australia competitive in global markets.

XTM currently outsources its manufacturing to China, with the production line and resulting shipping-related pollution acting as a handbrake toward its net-zero ambitions.

Ms Coker said a Labor Government would support businesses like XTM to bring their manufacturing back to Australian shores.

“XTM has already shown that it’s an innovation and progressive world-leading business. They care passionately about the environment and have an impressive plan to transition to net zero emissions.”

“By partnering with the private sector, Labor’s National Reconstruction Fund will support companies like XTM to develop further, and for new innovative industries to grow, creating more jobs here and across Australia.

“If there’s anything that COVID has taught us, it’s the need to make more things here in Australia. By getting access to loans, equity, co-investment and guarantees local companies will be better able to do that.

“Proud Australian businesses such as XTM deserve to be supported to prosper.”