- There has been a growing awareness about climate change in the world
- A lot of companies are at forefront of this battle against invisible enemy
- The companies with focus on climate are future ready, thus making them more valuable
Global warming, a consequence of climate change, is a cause of huge concern across the world. The fears are that it may submerge most of coastal cities and countries as sea levels continue to rise, and consequently lead to the world’s largest refugee crisis.
While many businesses have been criticised for being nonchalant towards the climate change, yet there is a gamut of companies that have been at the forefront of the climate change battle. Let us take a look at four such companies in Australia:
- AGL Energy Limited (ASX:AGL): Australia’s largest coal power generator – AGL – has detailed out its vision to move away from coal. The company that saw a management reshuffle today morning, is focusing on five key areas with the aim of bringing down net emissions to zero by 2050. The five commitments include: option of carbon neutral prices across the product range; to support the transition in voluntary carbon markets; transparency; investing in new sources of energy; and transition in the energy portfolio.
That is not all: in 2015, AGL committed not to extend the life of its coal-driven power units as part of its Greenhouse Gas Policy. The company’s shares closed at AU$8.80 per scrip on Thursday.
- Coles Group Limited (ASX:COL): Leading the way, this Australian retail major was one of the first firms to sign a renewable purchasing-power deal in 2019. On Thursday morning, the company upped its targets on the climate change in three different areas – no greenhouse gas emissions by 2050; the whole group to use 100% renewable electricity by FY2025 end; and a massive cut in greenhouse gas emission in this decade. The company’s shares closed at AU$15.84 per scrip on Thursday.
- Qantas Airways Limited (ASX:QAN): The airliner, in 2017, decided to synchronise its climate change-related disclosures with the recommendations made by the Taskforce on Climate-related Financial Disclosures (TCFD). After this commitment, the airline is said to have been working out a strategy to implement this across all the elements of climate-related disclosures: governance, strategy, risk management, and metrics and targets. The company’s shares closed at AU$5.01 per scrip on Thursday.
- Telstra Corporation Limited (ASX:TLS): The telecom services provider had committed to be carbon-neutral by the end of 2020. It achieved this target way ahead of the self-set deadline – by July 2020 itself. The company has also set ambitious targets of reducing its absolute emissions by a minimum of 50% by the end of this decade, along with shifting completely to the renewable sources of energy by end of 2020. The company says it is on course to achieve its mission. The company’s shares closed at AU$3.40 per scrip on Thursday.