Energy and Mines


South32 backs carbon pricing

South32 backs carbon pricing
September 15
09:43 2017

Photo by Dori (Own work) [GFDL or CC BY-SA 3.0 us], via Wikimedia Commons.

Perth-based mining company South32 announced its support for carbon pricing today, asserting that pricing is an effective mechanism for efficiently reducing emissions. It supports pricing carbon across all industries and all sources of carbon emissions. The firm is the latest in a string of Australian business to advocate for such a policy.

“We support carbon pricing that is globally competitive and broad-based, covering all industry sectors and all possible carbon emission sources,” the company said.

Citing the need for economic stability and regulatory certainty, South32 says it envisions a system where the revenue raised from carbon pricing will support the transition to a low-carbon economy.

“We support policy that helps us meaningfully transition to a low carbon economy, because sharp policy change to avoid climate change and the cost of inaction could impact value for shareholders in the long-term.”

The company has already reduced its emissions by three per cent in 2017 compared to last year, according to CEO Graham Kerr.

“We need a smooth transition to a world that manages to avoid more than two degrees of warming and we are committed to playing our part.”

Read the full article in The Australian.

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Kate Dougherty

Kate Dougherty