One of Australia’s biggest energy companies, Origin Energy, plans to close closing down its Eraring coal-fired power station by the early 2030s and not invest in fossil fuels anymore.
Eraring is Australia’s largest power station.
Origin will announce the change at the company’s annual general meeting today.
Origin has also become the first energy company in the world to make a commitment to a low energy economy with a series of changes including a carbon price.
Origin has backed a series of business initiatives developed UK environmental not-for-profit group CDP, formerly known as Carbon Disclosure Project, and We Mean Business, a coalition of businesses supporting a low carbon future,
More than 200 companies such as Coca Cola, Nestle, Pepsi and Unilever, and that includes 40 Australian businesses, have backed the initiative which includes putting a price on carbon, having 100 per cent of energy at their operations coming from renewable sources, and reporting climate change information as part of their fiduciary duty,
“Energy production is responsible for two thirds of global carbon emissions, which means energy companies must play a central role in delivering the solutions that will help to reduce emissions globally,” Origin chairman Gordon Cairns told AAP.