The number of big businesses already moving towards 100% renewables and emissions reduction targets directly contradict Business Council of Australia claims that a 45% target would be “economy wrecking”, according to new research from The Australia Institute.

 Key Findings

• At least 14 BCA members have committed to 100% renewables, including IT giants like Google and Microsoft that consume vast amounts of power.
• Seven members have ‘science based targets’ for emission reductions, including News Corp, while another 59 Australian big businesses have targets beyond government policy.
• Big industrial companies are buying large amounts of renewable power including BlueScope Steel and CUB.
• BCA members are stopping finance to coal and pressuring companies to take more action on climate change including NAB and JP Morgan.
• CSIRO and several universities researching climate are BCA members.
• At least 16 BCA members are part of investor initiatives on climate, including seven companies who expect businesses to stop their lobby groups from undermining the Paris Agreement, or from lobbying at all on climate issues, where members’ interests are not aligned.

“Despite the actions taken by its members, the BCA continues to argue against stronger climate policy,” said Richie Merzian, Climate & Energy Program Director at The Australia Institute.

 “The BCA is divided on the issue of climate action, with its reckless claims being driven by a climate and energy committee dominated by fossil fuel companies.

 “With Governments being held back by lobby groups like the BCA, many big businesses are getting on with clean energy and climate action in their own operations.

 “We are seeing action from corporations as diverse as Google, NewsCorp, McDonalds, Carlton United Breweries, global banks, consultancies, steel companies and power companies.

 “Yet while its members take action, the BCA continues to stoke unfounded economic fears.

 “This could be why we have seen companies with strong climate credentials leave their BCA memberships behind over the last year.”