AGL Energy 'We Mean Business'

In an earlier wire on AGL Energy's upcoming 2015 AGM on 30 September 2015, (VIEW LINK) I identified a shareholder requisitioned resolution seeking to insert climate change related disclosure obligations in the constitution. AGL Energy's announcement today of its signing onto the We Mean Business Coalition (VIEW LINK) is a step in the right direction. With commitments to (A) responsible corporate engagement on climate policy (B) reporting climate change information in mainstream corporate reports and (C) aligning with the UN Global Compact's Business Leadership Criteria on Carbon Pricing (VIEW LINK) AGL Energy is moving someway towards what the shareholder requisitioners are seeking...except there is still no mention of quantitative targets. With a promise of 'more to come' in its 2016 Sustainability Report including a detailed scenario analysis of how AGL will achieve an emissions profile consistent with limiting global warming to 2 degrees, there is an element of trust involved. I note the FY2015 sustainability report has not been released when I checked AGL Energy's website today. (VIEW LINK)