Glencore welcomes ARENA reforms
6 August 2021
Glencore welcomes the Federal Government’s reforms to the Australian Renewable Energy Agency (ARENA).
These reforms are focused on the continued reduction of CO2 emissions rather than specific energy sources and position Australia on a pathway to achieve long-term climate outcomes. The changes to ARENA will also give industry confidence to invest in a broader range of low emission technologies including, Carbon Capture Use and Storage (CCUS).
CCUS is a proven technology that can materially reduce emissions from fossil fuels and also support the transition towards hydrogen energy.
The Morrison Government’s changes to ARENA are consistent with the views of the International Energy Agency (IEA) and the United Nations Intergovernmental Panel on Climate Change (IPCC), which both view CCUS as an essential technology if the world is to meet global climate targets.
Glencore has committed to ambitious climate change goals and is focussed on reducing our total emission footprint in a responsible manner. We are among the largest producers of coal, copper, zinc, nickel and cobalt in Australia – all of these commodities are needed to fuel the transition to a low emission future.
Our business supports both renewable energy technologies and other low emission technologies like CCUS, including through the $210 million CTSCo Project in Queensland.
For further information, please contact:
Francis De Rosa
m: +61 417 074 751
e: Francis De Rosa
m: +61 478 228 075
e: Allyn Hamonet
Notes for editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsible-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.
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. Our ambition is to be a net zero total emissions company by 2050.
About Glencore Australia
Glencore produces coal, copper, cobalt, nickel and zinc from 25 mines across Australia. We also operate metals processing assets in Queensland, including a copper smelter, lead smelter and copper refinery.
We employ 17,690 people in Australia and in 2020 contributed over $13.8 billion to the regional, state and national economies. The most significant contribution came from our core business activities: employing people, sourcing from local communities and paying taxes to host governments.
About Glencore's coal business in Australia
Glencore is one of Australia's largest coal producers with 17 operational mines across New South Wales and Queensland.
We provide employment for almost 10,000 Australians and in 2020 managed the production of about 99 million tonnes of thermal and coking coal, predominantly for export.