Guest essay by Eric Worrall
The Minerals Council of Australia has released a climate action plan which pleases nobody.
Minerals Council slammed for “woefully inadequate” Climate Action Plan
Some six months after being named on a list of the world’s top 10 most powerful climate policy opponents, the Minerals Council of Australia has unveiled its very own Climate Action Plan, in what it describes as part of an “ongoing commitment” to decarbonising Australia’s economy.
In a statement on Monday, the MCA said the plan outlined how the peak industry body and its members were taking action on climate change, and the minerals sector’s collective commitment to the Paris Agreement and its goal of net-zero emissions globally and in Australia.
The plan’s three core objectives, the MCA said, were to enable the potential of technology to decarbonise the minerals sector, to increase transparency in reporting from member companies, and to share practical knowledge on climate responses.
And according to the Australasian Centre for Corporate Responsibility (ACCR), the MCA’s failure to articulate any tangible steps for its Climate Action Plan suggests that nothing much has changed.
In a scathing review of the plan, the ACCR points to the lack of any firm commitment to carbon pricing or any broader policies to decarbonise; any tangible dates and milestones for full decarbonisation, specifically beyond operations and regarding Scope 3 emissions from their products; any detail regarding the emissions from coal mining, and; any mention of phasing out coal mining or coal-fired power.
…Read more: https://reneweconomy.com.au/minerals-council-slammed-for-woefully-inadequate-climate-action-plan-15333/
Investment groups are also unimpressed by the Minerals Council effort.
Big investors unimpressed by MCA’s climate pledge
James Fernyhough ReporterJun 22, 2020 – 1.40pm
A group of major investors have demanded the Minerals Council of Australia (MCA) provide more information on how its members will reach net zero carbon emissions, saying the lobby group’s climate action plan was too vague.
The $878 billion UK giant Aberdeen Standard Investment questioned its reliance on carbon capture and storage technology, which it said was a last resort, and criticised the MCA’s failure to include scope 3 emissions in its net zero pledge.
“It doesn’t address scope 3, it doesn’t directly address lobbying, and there is quite a lot of talk of net zero, but it doesn’t seem from what I can see to have any steps to encourage members to become net zero carbon emitters,” said an Aberdeen executive, Danielle Welsh-Rose.
…Read more: https://www.afr.com/policy/energy-and-climate/minerals-council-adopts-net-zero-but-not-on-exports-20200622-p554wr
The original Minerals Council press release is available here.
I suspect this latest in a series of efforts to surrender to the climate activist community is not going to lead to a good outcome for Australia’s extractive industry. Greens smell blood in the water, they’re not going to be appeased by a few scraps and token gestures.