Latest news with #IanLearmonth
The Advertiser
10 hours ago
- Business
- The Advertiser
Lower energy use just the beginning for retail giant
Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said. Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said.
Perth Now
10 hours ago
- Business
- Perth Now
Lower energy use just the beginning for retail giant
Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services. Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia's specialist climate investor. It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. These installed or upgraded facility changes are expected to be in effect by the end of 2025. "We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment," Wesfarmers CFO Anthony Gianotti said. A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope. Adopting these initiatives is a "practical and speedy" way to cut the organisations carbon footprint, the climate investor's CEO Ian Learmonth said. "Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities," he said. "At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning." Australia's retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation's greenhouse gas emissions. Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said. Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. "This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers' efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use," he said.
The Guardian
19 hours ago
- Business
- The Guardian
Australian government loans $100m to install EV chargers and solar panels at Bunnings and Officeworks stores
Wesfarmers has secured a $100m loan with the government's Clean Energy Finance Corporation to install more solar panels, batteries and EV chargers at its Bunnings and Officeworks stores. The chief executive of the CEFC, Ian Learmonth, said he hoped the financing package at the high-profile stores would help create a 'ripple effect' through the commercial sector, where the uptake of rooftop solar has been slower than across residential properties. The financing package, to be paid back by Wesfarmers over seven years at a competitive interest rate, would help accelerate the group's decarbonisation plans, Learmonth said. 'As a leading Australian company with these household brand names, we can provide them with competitive finance that's allowing them to meet a business case to deliver roof top solar, battery storage, various energy efficiency initiatives and putting EV chargers in,' he said. Sign up for Guardian Australia's breaking news email 'There is potential growth in the commercial and industrial sectors. When people see Bunnings and Officeworks doing this, it adds a ripple effect where other large companies can be influenced by seeing what these companies are doing, and seeing their car parks with EV chargers.' He said large industrial roof spaces had not been as well utilised with solar panels as households, sometimes because either structurally the roofs were not strong enough, or agreements were complicated between tenants and building owners. He said: 'This is a great opportunity where we have the owner and operator – Wesfarmers – that we can work with.' The CEFC, with access to $32bn of government money, is a green bank that provides financing and loans to accelerate decarbonisation. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Australia's retail sector accounts for half of the energy use of all commercial properties and 5% of the country's emissions. CEFC said the solar and battery installations could also help to stabilise the country's electricity grid. Storing solar electricity in batteries to use in evening peaks, for example, can help even out power demand at times of higher electricity use. The executive director at the CEFC, Richard Lovell, said: 'By focusing on using its existing building assets to support renewable energy generation and energy storage, which are crucial for energy demand management, Wesfarmers continues to execute its active decarbonisation strategy to reduce its direct emissions.' Bunnings, Officeworks and WesCEF all have targets to reach net zero direct emissions by 2030, and to use 100% renewable electricity by the end of 2025. Wesfarmers will also use part of the CEFC finance to fund a study at its chemicals, energy and fertiliser business, WesCEF, into decarbonising the production of sodium cyanide – a chemical used in gold production. Work to install and upgrade facilities at Bunnings and Officeworks sites is expected to be completed by the end of this year. Wesfarmers chief financial officer, Anthony Gianotti, said the company welcomed the backing of the CEFC. 'We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment.'
