Climate change
As one of Australia’s largest companies, we understand our responsibility to minimise our environmental footprint, as well as to mitigate the environmental and social impacts of climate change.
Our
Climate Change Position StatementOpens in new window
details our ambitions and approach.
Coles Group has the following commitments:
- to deliver net zero greenhouse gas emissions by 2050;
- for the entire Coles Group to be powered by 100% renewable electricity by the end of FY25, building on the progress already made towards this target through renewable power purchase agreements, onsite solar and agreements with renewable electricity generators; and
- to reduce combined Scope 1 and 2 greenhouse gas emissions by more than 75% by the end of FY30 (from a FY20 baseline).
Climate change governance
The Board oversees the effectiveness of Coles’ environment, sustainability and governance policies and retains ultimate oversight of material environmental and sustainability risks and opportunities, including those related to climate change. The Audit and Risk Committee assists the Board in fulfilling its responsibilities.
Coles’ Sustainability Steering Committee, a management committee, is responsible for overseeing Group-wide identification and response to sustainability risks, including climate change.
Our climate change agenda and program are coordinated by a Climate Change Subcommittee which oversees Coles’ climate change approach and reports to the Sustainability Steering Committee and its Chair.
Climate change risks and opportunities
Climate change presents an evolving and dynamic set of risks and opportunities for Coles. Our approach to managing and mitigating the impacts of climate change is holistic, grounded in science and informed by our risk analysis. As supporters of the Task Force on climate-related Financial Disclosures (TCFD), we will work towards a holistic and integrated approach to managing and reporting climate-related risks and opportunities.
Climate-related risks and opportunities are generally classified as risks related to the physical impacts of climate change (physical risk) and those related to the transition to a lower-carbon economy (transition risk). These risks and opportunities are detailed in the
Coles Group Annual ReportAnnual Report, file size 15.3MB, Opens in new windowOpens in new window.
More information on how we are managing the impacts of climate change is also available in the
Coles Group Sustainability ReportSustainability Report, file size 7.1MB, Opens in new windowOpens in new window.
