28 Apr AGL makes call for emissions reduction targets
In its Climate Policy AGL stated that it will close all existing coal-fired power plants by 2050 and include carbon pricing in each capital investment decision related to its electricity generation assets. It will continue to invest in new renewable or near-zero emission technologies, and supports Governments setting binding medium and long term emission reduction targets.
In addition to releasing its Climate Policy, AGL also released a Climate working paper in which it stated that to date Australia’s climate change policy had been erratic and unfocused at best, and that the policy can’t continue to swing wildly from one setting to another. Instead, the policy needs to be sensible and clearly communicated to both investors and capital markets. If allowed to continue, the uncertainty would result in increased capital premiums, potentially questionable investment decisions and ultimately, higher energy costs for consumers.