Carbon Capture and Storage essential to achieve Queensland’s new climate goals
Media statement
Brisbane, Australia
Glencore notes Queensland’s increased emissions reduction target of 75% below 2005 levels by 2035.
Glencore supports action on climate change and has adopted global climate change targets for our business. The recent COP28 climate change talks have specifically called out the need for carbon capture and storage (CCS) technology for hard to abate sectors and low emission hydrogen production.
The new Miles Government will be expected to be transparent with Queenslanders about what it will cost taxpayers to achieve the 75% emissions reduction target but also what impact this will have on electricity prices.
CCS must be one of a suite of low emissions technologies Queensland should deploy if it is to achieve its emissions reduction goals, otherwise Queenslanders will be paying even more for their electricity. CCS policy is supported by the Federal Government and the legislative framework already exists in Queensland.
Glencore’s CTSCo Project in the Surat Basin is the most advanced onshore CCS project in Queensland and is currently awaiting an approval decision for its Environmental Impact Statement from the Department of Environment and Science.
“CCS in the Surat Basin has the potential to materially reduce carbon emissions from hard to abate sectors, while supporting the State’s hydrogen industry and helping reduce the costs of emissions reduction for all Queenslanders”, said Darren Greer, General Manager of Glencore’s CTSCo Project.
The CTSCo Project is seeking approval for injection testing of around 100,000 tonnes per year of food grade carbon dioxide (CO2) at depths of 2.3 kilometres in the Surat Basin in Queensland for three years. Our scientific data shows this CO2 can be stored safely and securely, with no adverse impacts on any local or regional agricultural producers.
“Key aspects of the CTSCo Project have been independently reviewed by third-party independent experts”, said Mr Greer. “These include the Australian Government Independent Expert Scientific Committee (IESC), the Office of Groundwater Impact Assessment (OGIA) and CSIRO.
CCS has been repeatedly recognised by the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA) as a critical technology for mitigating emissions and necessary for contributing to a global clean energy transition and the achievement of Net Zero by 2050.
For further information, please contact:
Francis De Rosa
m: +61 417 074 751
e: Francis De Rosa
Nikki Accornero
m: 0417 779 631
e: Nikki Accornero
Notes for editors
About Glencore
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With around 140,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
We recognise our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement by decarbonising our own operational footprint. We believe that we should take a holistic approach and have considered our commitment through the lens of our global industrial emissions. Against a 2019 baseline, we are committed to reducing our Scope 1, 2 and 3 industrial emissions by 15% by the end of 2026, 50% by the end of 2035 and we have an ambition to achieve net zero industrial emissions by the end of 2050.
For more information, visit our Publications page to see our 2022 Climate Report.
About Glencore Australia
In Australia, Glencore produces coal, copper, cobalt, nickel, zinc, lead and silver from 23 mining operations. We also operate metals processing assets in Queensland, New South Wales, Western Australia and the Northern Territory, including metals smelters, concentrators and refineries.
We are among Australia’s largest producers and marketers of natural resources, connecting Australian resources with industrial customers around the world. Through our diverse portfolio, we responsibly supply the resources that advance everyday life.
We employ 18,190 people in Australia and in 2022 contributed nearly $20 billion to the regional, state and national economies. This included spend of $10.4 billion with 7,370 businesses across the country, as well as $7.5 billion in government tax and royalty payments.
We are committed to providing a safe, inclusive and respectful workplace for our people, to respecting the environment, to engaging openly and constructively with the Traditional Owners on whose lands we operate and to bringing value to local communities.
Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021 we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.
Learn more about Glencore Australia.