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Coles hoists white flag on petrol

Carbon emissions shifting is becoming a feature of the Australian economy as companies make choices between going green or staying carbon-heavy.

Coles Group’s sale of its fuel and convenience business for $300 million to Viva Energy shows a supermarket striving for stronger green credentials dumping about 33 million tonnes in annual scope 3 carbon emissions.

Coles chief executive Steven Cain is handing over to Viva’s Scott Wyatt the equivalent of all the carbon created by Chinese steel mills from the burning of BHP’s metallurgical coal in one year.

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com

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    Original URL: https://www.afr.com/chanticleer/coles-hoists-white-flag-on-petrol-20220921-p5bjqh