August 10, 2016

AGL is misleading shareholders and customers about its action on climate change says said that AGL’s sustainability report released today is largely spin that misleads their shareholders and customers about the company’s action on climate change.

Although AGL must be commended for its renewable investments, it remains Australia’s largest carbon polluter and today’s report demonstrates it will likely hold this dishonourable title for a long time to come.

“AGL’s sustainability report released today is a magnificent piece of spin that we are concerned could mislead customers and shareholders about the real impact of the company’s actions on our climate,” Australia campaigner, Josh Creaser said.

AGL is talking the talk, but so far they have failed to take the serious action required to keep the world below 2 degrees.In its sustainability report today AGL flagged it will keep its dirty coal power stations in operation for decades to come. This goes completely against what the science is telling us – we have a very limited carbon budget and need to be out of fossil fuel energy in years not decades.

“The only way for AGL to cut its carbon emissions is to close its coal power generators. These include some of the dirtiest generators in Australia. This must be complemented with a large scale investment in renewable energy projects.

“By continuing to keep these old clunkers running, AGL is crowding renewables out from the electricity market and undermining  a transition to clean power. Currently, any investment by AGL in renewable energy is dwarfed by its overwhelming reliance on coal and gas. The company needs to stop with the greenwash and start coming up with a genuine plan to tackle its emissions.

“AGL has signalled its intention to honour keeping planetary warming to below 2 degrees and it is time the board took responsibility for taking the necessary steps to make this happen. In the lead up to the AGM we will be meeting with the board asking them to put a climate plan on the table. AGL needs to work with the Government to come up with a strategy to rapidly transition Australia’s energy market from coal to renewables.”
Media contact: Cambell Klose 0490 436 948