Australia’s biggest carbon emitter, energy company AGL, has walked back from controversial plans to split its business.

AGL’s plan to break up its retail and power generation operations into separate entities came under relentless pressure from tech billionaire Mike Cannon-Brooks and others.

They argued splitting the business would leave it in a poorer position to accelerate the closure of coal-fired power stations in Victoria and NSW.

AGL’s chief executive, chairman, and two independent directors fell on their swords on Monday. The remaining board members announced they would undertake a strategic review into the future of the company.

Today on Please Explain business reporter Nick Toscano joins Bianca Hall to discuss the future of AGL, and how the market could drive Australia's transition to a clean-energy powerhouse.