Original article by Brad Thompson
The Australian Financial Review – Page: 15 : 5-Jul-21
Andrew Forrest has joined a number of well-known billionaires in investing in Breakthrough Energy Venture, a venture capital fund chaired by Microsoft’s co-founder Bill Gates. BEV will focus on emerging greenhouse gas-reducing technologies, and it has made initial investments in 46 companies across sectors such as electricity, transport and construction. The billionaires who have initially invested in BEV all made a minimum investment of at least US50 million ($66 million).
MICROSOFT CORPORATION, BREAKTHROUGH ENERGY VENTURES
Original article by Jared Lynch
The Australian – Page: 16 : 9-Nov-20
BHP will work with Chinese steel producer Baowu to develop low-carbon technologies for the global steel industry. BHP’s memorandum of understanding with Baowu includes provision for an investment of up to $US35m ($48m) in technologies aimed at reducing the industry’s carbon emissions. However, BHP still expects coking coal to remain a key steel-making input for many years. Coking coal accounted for $US1.9bn of BHP’s earnings in 2019-20.
BHP GROUP LIMITED – ASX BHP, CHINA BAOWU STEEL GROUP CORPORATION LIMITED
Original article by Elouise Fowler
The Australian Financial Review – Page: 16 : 5-Feb-20
McKinsey & Company has released a report which argues that although the mining sector has started taking action to reduce carbon emissions, more needs to be done. The report notes amongst other things that the mining industry’s greenhouse gas reduction targets are still generally well below those required under the Paris climate agreement. The global consultant also says mining companies need to take more action with regard to Scope 3 emissions.
McKINSEY AND COMPANY
Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 7-Oct-19
BP’s chief economist Spencer Dale says everyone has a responsibility when it comes to steering the world towards a goal of zero net carbon emissions. He says energy companies like BP have a role to play in achieving cleaner energy, but that they cannot get too far ahead of governments and society. Dale adds that investing in new oil and gas fields is still important in terms of meeting energy demand in developing nations, while he says there is a growing mismatch between current emissions output and the wishes of society.
Original article by Joanna Mather
The Australian Financial Review – Page: 10 : 3-Oct-19
The Climate Change 100+ group has released a new report on the abatement strategies of the 161 companies globally that generate the most carbon emissions. The report notes that 70 per cent of these companies have adopted emissions reduction targets, although just nine per cent have set targets that are consistent with the Paris climate agreement. Australian-listed mining groups BHP and South32 are among relatively few of the 161 companies that have set zero net emissions targets.
CLIMATE CHANGE 100+, BHP GROUP LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32, RIO TINTO LIMITED – ASX RIO, BORAL LIMITED – ASX BLD, AUSTRALIANSUPER PTY LTD
Original article by Brad Thompson
The Australian Financial Review – Page: 15 & 20 : 26-Sep-19
Rio Tinto has signed a memorandum of understanding with China Baowu Steel Group and Tsinghua University to develop strategies aimed at reducing carbon emissions across the steel industry. Steel-making accounts for the bulk of Rio Tinto’s scope 3 emissions, which totalled 536 million tonnes of carbon dioxide equivalent gases in 2018. In contrast, its scope 1 and 2 emissions totalled 28.6 million tonnes. BHP also recently revealed plans to address its scope 3 emissions.
RIO TINTO LIMITED – ASX RIO, CHINA BAOWU STEEL GROUP CORPORATION LIMITED, TSINGHUA UNIVERSITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MARKET FORCES, FRIENDS OF THE EARTH
Original article by Robyn Ironside
The Australian – Page: 1 : 8-Aug-19
Qantas CEO Alan Joyce addressed the annual Centre for Aviation summit on 7 August, stressing that imposing levies on airlines and travellers is not the solution to climate change. The French government recently announced a new tax on airfares, and the Netherlands is considering a similar levy. Joyce argued that the global airline industry is aware of its environmental impact and is taking action to reduce its carbon footprint. He also stressed the economic importance of international air travel in terms of trade and job creation.
QANTAS AIRWAYS LIMITED – ASX QAN, CENTRE FOR AVIATION, AUSTRALIA. BUREAU OF INFRASTRUCTURE, TRANSPORT AND REGIONAL ECONOMICS
Original article by Nick Evans, Perry Williams
The Australian – Page: 19 & 22 : 12-Apr-19
Shareholders at Rio Tinto’s annual meeting in London have been told that progress in achieving greenhouse gas emission reduction targets could be included in its performance bonus system. A revised executive incentive scheme will be put to shareholders in 2021, and chairman Simon Thompson said short-term bonus plans could potentially be linked to its emission reduction targets. He has ruled out setting targets for Rio Tinto’s customers to reduce their own carbon emissions. A resolution on the issue will be put to the Australian annual meeting in May.
RIO TINTO LIMITED – ASX RIO, CLIMATE ACTION 100+, ALUMINIUM CORPORATION OF CHINA LIMITED, BHP GROUP LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, ROYAL DUTCH SHELL PLC
Original article by Nick Evans
The Australian – Page: 19 : 11-Apr-19
Rio Tinto chairman Simon Thompson and CEO Jean-Sebastien Jacques have emphasised its focus on environmental sustainability in their presentations to shareholders at the annual meeting in London. Amongst other things, they committed to increased use of renewable energy across Rio Tinto’s mining operations, as well as developing new targets for reducing the company’s greenhouse gas emissions. Thompson also noted that Rio Tinto is the only major mining company that no longer produces fossil fuels.
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, CLIMATE ACTION 100+
Original article by Glenda Korporaal
The Australian – Page: 22 : 4-Apr-19
Woodside Petroleum CEO Peter Coleman has told the LNG 2019 conference in Shanghai that the industry can take a leading role in reducing global greenhouse gas emissions. Amongst other things, he says LNG can replace fuels that generate higher emissions, including in the road transport and shipping industries. Coleman also argued the case for a global price on carbon, but cautioned that policies aimed at reducing carbon emissions will fail if they are regarded as having a negative impact on jobs and prosperity.
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP GROUP LIMITED – ASX BHP, SHELL COMPANY OF AUSTRALIA LIMITED, CHEVRON CORPORATION, HUDONG-ZHONGHUA SHIPBUILDING (GROUP) COMPANY LIMITED