Australia's Coles targets net-zero greenhouse emissions by 2050

Credit: REUTERS/DANIEL MUNOZ

March 19 (Reuters) - Coles Group COL.AX aims for net-zero greenhouse emissions by 2050 as part of efforts to address global climate change, Australia's No.2 grocer said on Friday.

Companies across the world have laid out emission reduction and decarbonisation targets under pressure from investors and consumers seeking more transparency.

Coles said it would be entirely powered by renewable electricity by the end of 2025, adding it would work on reducing its combined scope 1 and 2 greenhouse gas emissions by more than 75% by the end of 2030.

The emission targets committed Coles to a greenhouse gas reduction strategy that "exceed climate change ambitions of the Paris Agreement", Chief Executive Steven Cain said in a statement.

In September, Coles agreed to source more than 90% of its Queensland electricity requirements from state-owned energy generator CleanCo, three-quarters of which would come from renewable sources. (https://bit.ly/2NyFDNi)

(Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj Kalluvila)

((Soumyajit.Saha@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.