sydneybillionaire mike cannonbrookes hoping to force greenhousegas emission cuts at australias biggest polluter has bought a stake in the company so he can vote against its current strategy mr cannonbrookes the cofounder of nasdaqlisted software company atlassian corp plc has become the largest shareholder in agl energy ltd with an 1128 stake in the electricity generator he has told the company he will vote against plans to put its coalfired power plants into a separate business that he said will face multiple risks and be unattractive to investors we intend to vote every agl share we control at the relevant time against the demerger and we call on fellow agl shareholders to vote against the demerger to avoid further value destruction mr cannonbrookes said on tuesday the move represents mr cannonbrookess second tilt at shifting policy at agl which the australian governments clean energy regulator says is australias largest emitter of greenhouse gasses agl in march rejected a takeover proposal from a brookfield asset management incled consortium which included mr cannonbrookes that planned to close agls aging coalfired generating assets 10 years ahead of agls 2045 target and replace them with clean energy and storage agl rejected the proposal as too low the following month a unit at agls coalfired loy yang a power station in victoria state was forced offline by an electrical fault agl on monday cut its earnings guidance for the 2022 fiscal year as a result sweating old coal plants which are expensive to runand increasingly break down like were seeing today with loy yang ais not economical or responsible it makes no sense or cents mr cannonbrookes said agl acknowledged that interests associated with mike cannonbrookes had assembled an interest and that the australian entrepreneur had advised he would vote against demerger it said it would press on with the demerger and said that usbased fund global infrastructure partners would take a 49 equity stake in the subsequent generation businesss own lowcarbon projects the board has considered these developments and continues to believe that agls proposed demerger is in the best interests of agl shareholders agl said