Australia’s largest energy company is to join the Chicago Climate
Exchange, the world’s first emission registry and reduction and trading
system for all six greenhouse gases.
AGL, whose activities include generation and sales of gas and
electricity to 3.6 million customers, will be the first big Australian
company to join the exchange.
AGL hopes membership will provide a focus for its efforts to cut its
greenhouse gas pollution in Australia and help the company to expand
its renewable energy operations, including the building of the largest
wind farm in the southern hemisphere. The installation, at Macarthur in
Victoria, will power about 190,000 homes.
The company has invested almost A$2billion ($1.65bn, £830million) in renewable energy in the past 12 months.
Members of the exchange make a voluntary but legally binding commitment
to cut emissions. By December last year all members had reduced direct
emissions to four per cent below a baseline figure registered for
1998-2001. By 2010 they will be required to reduce emissions to six per
cent below that baseline.
