ACCR Company Engagement AGL Energy Ltd

AGL is an integrated essential service provider operating Australia’s largest electricity generation portfolio.

AGL operates Australia’s largest electricity generation portfolio, which accounts for approximately 20% of the total generation capacity in the Australian electricity market. It is a major participant in the gas and electricity wholesale markets, providing energy to 3.7 million customers. Additionally, AGL is the largest ASX-listed investor in renewable energy.

ACCR has engaged with AGL Energy (AGL) for many years on its management of climate risk, decarbonisation strategy and governance of industry associations.

Updates

  1. Media release

    Majority of AGL shareholders demand alignment with the Paris Agreement

    Comment on the results of AGL Energy’s (ASX:AGL) annual general meeting, at which ACCR’s shareholder resolution calling for Paris-aligned targets was supported by 52.56% of shareholders.

  2. Briefing note

    Investor briefing: Shareholder Resolution to AGL Energy Ltd on Paris-aligned goals and targets.

    Supporting brief to our Shareholder Resolution to AGL Energy Ltd on Paris-aligned goals and targets.

  3. Media release

    AGL says it won’t adhere to Paris Agreement

    Unfortunately for AGL shareholders, the market will take care of replacing that capacity, which will make AGL’s coal-fired power stations unprofitable and destroy even more shareholder value.

  4. Media release

    Tomago going green is the nail in the coffin for AGL’s Bayswater

    Tomago aluminium smelter will switch to predominantly renewable energy by 2029. It is the final nail in the coffin for AGL's Bayswater coal-fired power station.

  5. Media release

    AGL’s Say on Climate commitment welcome, Paris-aligned targets still needed

    Despite saying that AGL couldn’t commit to Paris-aligned targets for the proposed demerged companies, as that would be a matter for the new boards, it has now made this commitment to ‘Say on Climate’.

  6. Media release

    AGL must set Paris-aligned targets for demerged companies

    Recent meetings with members of the Board suggest AGL is not prepared to set Paris-aligned targets, despite that now being a clear expectation of emissions intensive companies.

  7. Shareholder Resolution

    ACCR Shareholder Resolution to AGL Energy Ltd on Paris Goals and Targets

    ACCR has filed a Shareholder Resolution to AGL (ASX: AGL) on the disclosure of the proposed demerged companies’ Paris goals and targets.

  8. Media release

    AGL demerger plans underwhelm, ignore climate concerns

    Investors continue to be frustrated by AGL’s continued denial of the need to bring forward the closure dates of its Bayswater and Loy Yang A coal-fired power stations.

  9. Media release

    Fresh thinking needed at AGL

    “Spending years attempting a demerger will not absolve AGL of its responsibilities to its investors and the communities in which it operates.”

  10. Media release

    AGL abandons responsibility on coal closure

    Following a halving in AGL’s share price over the last year, CEO Brett Redman is attempting to sell the demerger as a win for shareholders

  11. Media release

    AGL must lead the energy transition

    AGL is Australia’s largest emitter, responsible for approximately 8% of annual emissions. Its actions will have a real impact on Australia’s emissions trajectory.

  12. Media release

    AGL and Origin writedowns: stranded assets in real time

    “This is a problem largely of the companies’ own making, having acquired the coal-fired power stations from state governments in the last decade, knowing full well the risks embedded in emissions intensive assets”.

  13. Media release

    AGL AGM: Blackrock support demonstrates Australian investors lag foreign peers

    “Blackrock’s support for this resolution embarrasses Australian super funds and asset managers who voted against the resolution.”

  14. Shareholder Resolution

    ACCR Shareholder Resolution to AGL Energy Ltd on closure dates of Bayswater and Loy Yang A coal-fired power stations

    ACCR Shareholder Resolution and supporting statements to AGL Energy Ltd (ASX:AGL), requesting the company bring forward the closure dates of its Bayswater and Loy Yang A coal-fired power stations.