CLP Holdings Ltd.’s EnergyAustralia — one of the nation’s “big three” energy companies — apologized to customers for the marketing of its carbon offsetting products.
The apology was part of a settlement with advocacy organization Parents for Climate, which launched legal action against the power company in mid-2023 claiming that the marketing of its ‘Go Neutral’ carbon offsetting products was misleading. EnergyAustralia also acknowledged that offsets do not undo the harms of burning fossil fuels.
“Even with carbon offsetting, the emissions released from burning fossil fuels for a customer’s energy use still contribute to climate change,” EnergyAustralia said.
Carbon credits are popular among Australian companies looking to offset their climate footprint but have come under increasing scrutiny because of a lack of global oversight and questions over their efficacy. Several companies in the nation have walked away from the national Climate Active Scheme, a government-run voluntary register that allowed them to claim carbon neutrality if they purchase and report offsets.
EnergyAustralia owns assets including coal-fired power plants at Yallourn in Victoria and Mt. Piper in New South Wales, but plans to install massive batteries at both sites in a reflection of the nation’s rapid transition away from the most polluting fuel.
Regulators in Australia have started to crack down on companies misrepresenting their environmental, social and governance credentials, recently fining companies including Active Super, Mercer Superannuation Australia and Vanguard Investments Australia.
Was this article valuable?
Here are more articles you may enjoy.
Report Shows NYC Helicopter Breaking Apart in Midair Before Crash That Killed 6 
Space War: Marsh Sues Willis Over Aviation Insurance Hires Soliciting Clients 
State Farm VP Apologizes to Homeowner While Allstate Gets Grilled at Senate Hearing 
Markel Insurance CEO Wilson Lays Out Strategy for ‘Bread-and-Butter’ E&S Business 
