Tuesday, April 16, 2024

Coles’ renewables target on track

Coles will source 100% of its electricity needs from renewable sources by the end of FY25. This week, the last of the power purchase agreements needed to meet the ambitious target were signed.

These renewable electricity agreements for large-scale generation certificate (LGC) agreements are with Origin Energy, ACCIONA Energía, and ENGIE, and mean Coles has secured enough renewable electricity to cover its estimated electricity usage from July 1, 2025.

LGCs will be sourced from renewable electricity generated at wind and solar farms across Victoria, NSW, South Australia and Queensland. This, says the retailer, will propel Coles further in its ambition to become Australia’s most sustainable supermarket, under the Together to Zero focus area of its Sustainability Strategy.

Coles Chief Sustainability, Property and Export Officer Thinus Keevé says he is extremely proud that the business has not only created a clear pathway to achieving its 100% renewable electricity target on schedule but has also set the plan in motion less than a year after announcing the target.

“As part of Coles’ Sustainability Strategy, including Together to Zero, we set the ambitious target to be powered on 100% renewable electricity by end of FY25,” he says.

“The agreements with Origin Energy, ACCIONA Energía, and ENGIE puts us on the path to achieve this.

“We can now say with confidence that Coles will be 100% renewable from July 1, 2025, which is an incredible achievement.”

The significant milestone comes as Coles was recently ranked the second out of 62 food retailers globally for sustainable business practices in the World Benchmarking Alliance’s 2021 Food and Agriculture Benchmark, the highest ranking for an Australian supermarket.

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