Under Australian company AGL Energy’s first climate transition plan, closing one coal-fired power station a decade early will avoid 200 million tonnes of greenhouse gases.
AGL catches up to peers with climate plan
Australia’s biggest greenhouse gas emitter AGL Energy has released its first climate action plan as it fast-tracks the closure of one of its coal-fired power stations.
AGL says it has been at the forefront of energy innovation in Australia for 185 years, from lighting the first gas street lamp in Sydney in 1841 to becoming the nation’s largest private investor in renewable energy.
But Australia’s largest electricity generator has faced a shareholder revolt led by billionaire Mike Cannon-Brookes for going too slow in exiting coal and gas, before mapping out a new future in a strategic review and climate transition action plan released on Thursday.
The closure of Loy Yang A power station has been brought forward by a decade to 2035, which AGL said would avoid up to 200 million tonnes of greenhouse gases being emitted compared to previous timelines.