Ten of Australia’s top companies lack clear plans to stop using or supporting fossil fuels, report says

(The Guardian, 19 Feb 2024) UTS researchers say firms including Coles, Woolworths, Telstra, Rio Tinto and Qantas have no ‘comprehensive, independently verified and fully costed plan’ to reduce emissions.

Ten of Australia’s best-known corporations – including Coles, Telstra, Woolworths and Qantas – have no clear plans to stop using or supporting fossil fuels despite having targets to reach net zero greenhouse gas emissions, according to a report.

The companies were also failing to report clearly the impact of their businesses on the climate warming caused directly or indirectly from land clearing.

The report, from the University of Technology Sydney’s Institute for Sustainable Futures, examined in detail the climate plans and disclosures of Coles, Woolworths, Telstra, Rio Tinto, Qantas, BlueScope Steel, Origin, AGL, Cleanaway and South 32. The companies were selected as major emitters in their respective industries.

Commissioned by a new Australia-based advocacy group, Climate Integrity, the report said none of the 10 Australian companies had a “comprehensive, independently verified and fully costed plan for reducing their emissions” that was in line with a scientifically credible pathway to decarbonise quickly enough to keep global heating to 1.5C.

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The Guardian, 19 Feb 2024: Ten of Australia’s top companies lack clear plans to stop using or supporting fossil fuels, report says