Rio Tinto calls for delay in carbon trading


Mining giant Rio Tinto made representations to the Australian Federal parliament yesterday, calling for a slow start to carbon trading to avoid "excessive pressure" on industry. The presentation, billed in some media as a call for carbon trading, in fact outlines a plan to postpone any carbon trading for ten years and then make sure that it has as little impact on industry as possible. The focus of the presentation was on burying carbon dioxide underground.

The ABC reported that: 

Yesterday company representatives addressed a House of Representatives Science committee investigating the reduction of emissions through geosequestration, which involves capturing the pollutant gases and burying them underground.

Rio Tinto’s Alex Zapantis says the Government should invest in carbon capture and storage projects locally and promote them globally.

He says the Government could also start planning an emissions trading scheme now without placing excessive pressure on industry.

"The Australian Government, or any government for that matter, could say there will be a price on carbon, it will commence in 2015 and it will be this amount," he said.

"That will start the industry adjusting immediately without the burden of that price of carbon on the economy."

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