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Climate activist forces Australian energy giant to its knees

Climate activist forces Australian energy giant to its knees

Mike Canon Brooks © Reuters

Australian energy company AGL, which emits most of the country’s greenhouse gases through its coal business, has halted plans to split the group. It was announced on Monday that the CEO and Chairman of the Board of Directors will be resigning. The shift follows resistance from climate activist Mike Cannon-Brooks. According to Bloomberg News, it is “one of the most aggressive but also the most successful examples of climate action.”

GVsource: BELGA

AGL Energy wanted to divide its activities into a production and retail branch. It was intended that the coal-fired power plants would continue to produce for another two decades. The electricity producer will only become climate neutral by 2047.

The proposal was due to be voted on at the general meeting next month, but the company announced on Monday that the plan had been delayed due to a lack of shareholder support. Climate activist Mike Cannon-Brooks led the protest, becoming a major contributor to AGL this month.

Cannon Brooks is a billionaire who uses his fortune to campaign against global warming. He thinks AGL should shut down its coal plants much sooner. Earlier, he also challenged Tesla CEO Elon Musk to set up a large battery project in South Australia.

AGL’s future plans are uncertain, with CEO Graeme Hunt and Chairman Peter Botten announcing on Monday that they are resigning, as have two other directors. There will also be a review of the strategy. There should be more clarity by September.

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