In a statement to the Australian Stock Exchange on Friday, Coles announced bold new emissions targets that exceed ambitions set under the Paris Agreement.

Under its climate change position statement, Coles has pledged to deliver zero greenhouse gas emissions by 2050.

By financial year 2025, Coles said its entire store network would be powered fully by renewable electricity.

Coles chief executive Steven Cain said the company had already accelerated its ambitions to reduce scope 1 and 2 greenhouse gas emissions targets.

“We have already reduced scope 1 and scope 2 greenhouse gas emissions by 36.5 per cent since 2009 and have been a leader in securing renewable energy.”

The company also intends to reduce scope 1 and 2 emissions by more than 75 per cent over the next decade.

Coles’ pledge follows public moves by rival Woolworths and other major Australian businesses that have set emission target reduction strategies.