Coles has announced a new partnership that will see it source 90% of its energy in Queensland from renewable sources.
Second 10 year renewable energy deal
The retailer has signed a 10 year deal to team up with CleanCo, a state-owned clean energy provider. Power for 75% of the retailer's business in Queensland will come from Australia's largest solar farm (once built) and one of the largest wind farms in the Southern Hemisphere. The additional 15% of energy will come from other green sources. The move will result in a 20% reduction in Coles' national electicity CO2 emission.
The announcement follows on from Coles' announcement last year to buy renewable energy through another 10-year agreement with global renewable power generation company Metka EGN, which will see it buy over 70% of the electricity generated by three solar power plants in regional NSW.
'Responsible retailing' a top priority for Australia's retailers...
One of our five trends to watch in Australia that we set out at the start of 2020 was the 'rise of responsible retailing'. Over the last year we have seen the major retailers put more focus on sustainable initiatives, such as Woolworths opening its most sustainable supermarket at Burwood Brickworks and Aldi confirming that it plans for 100% of its operations to be powered by a combination of wind and solar power by 2021.
Coles Group CEO, Steven Cain, said, '"The significant increase in renewable energy is a major part of Coles’ commitment to be Australia’s most sustainable supermarket. We have already made changes throughout our business to use energy more efficiently, which has enabled us to reduce our greenhouse gas emissions by 36.5% since 2009, while growing our team member base and store network."