Corporate Emissions Reduction Transparency report consultation paper

AGL Energy (AGL) welcomes the opportunity to comment on the proposed changes to the 2023 Corporate Emissions Reduction Transparency (CERT) report.

The importance of transparent climate action

In recent years, AGL has sought to play a leading role in the way business engages on the critical issue of climate change, and we have been a proud leader in corporate climate disclosures. We have given serious consideration to the physical and transitional risks and opportunities associated with climate change and the transition towards a low-carbon economy.

AGL has been a leader in providing detailed climate-related disclosures in our annual corporate reports and associated sustainability reports.

Most recently, in September 2022, AGL released its inaugural Climate Transition Action Plan (CTAP) under the Say On Climate initiative, which clearly states AGL’s updated ambition for decarbonisation.

Each of these reports and disclosures has provided critical information for stakeholders to understand AGL’s commitments in relation to acting on climate in a comprehensive and transparent manner.

We support efforts to improve the quality and transparency of corporate climate disclosures and agree that a general principle of standardisation and simplification of disclosures is helpful for stakeholders, as long as necessary contextual detail is not misrepresented through these efforts. With that in mind, we note that the CERT may always be somewhat imperfect as individual corporate climate disclosures are very complex and will necessarily vary between different corporate entities due to a wide range of factors. Nevertheless, we look forward to continuing to engage with the CER on the CERT initiative and will continue to support improved climate disclosure processes for the benefit of all stakeholders.

A copy of AGL’s submission to the 2023 CERT report consultation is available here.