Ethical Performance
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Australian energy giant joins climate change body

May 2007

Australia’s largest energy company is to join the Chicago Climate Exchange, the world’s first emission registry and reduction and trading system for all six greenhouse gases.
AGL, whose activities include generation and sales of gas and electricity to 3.6 million customers, will be the first big Australian company to join the exchange.

AGL hopes membership will provide a focus for its efforts to cut its greenhouse gas pollution in Australia and help the company to expand its renewable energy operations, including the building of the largest wind farm in the southern hemisphere. The installation, at Macarthur in Victoria, will power about 190,000 homes.

The company has invested almost A$2billion ($1.65bn, £830million) in renewable energy in the past 12 months.

Members of the exchange make a voluntary but legally binding commitment to cut emissions. By December last year all members had reduced direct emissions to four per cent below a baseline figure registered for 1998-2001. By 2010 they will be required to reduce emissions to six per cent below that baseline.

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