Now, I must admit I didn’t have a lot of time for BHP or its boss. Many years ago BHP mined a mountain in remote Papua New Guinea called Ok Tedi. It was a copper mine and BHP obliterated the pristine jungle environment. They were successfully sued by the indigenous inhabitants because of the environmental degradation caused operations, and I think there was really some regret by a new vanguard.
BHP-Billiton is not only a huge mining company (the world’s biggest) but also has gas and petroleum interests. The chief executive of BHP, Marius Kloppers, said last night that Australia's economy would suffer if it did not significantly reduce its carbon emissions in anticipation of a global carbon price. You must read this…..
The opposite argument (ie impact to the economy if we do anything) has been used by the previous governments in Australia. But after a change in government in 2007; and ratification of the Kyoto Protocol; the Labour government went back on its commitment to put in place an effective carbon reduction scheme. It had the opportunity for a double disillusion (based on lack of senate support for an ETS scheme) but was more concerned about its political future than doing the right thing. So, a new election and minority status.
Enter BHP boss (stage right) after this same Australian government was just re-elected (as a minority government). Labour sided with the Green Party to allow it to rule. So, just to kick them into action, Marius Kloppers – leading the world’s largest producer of thermal coal, has waded boldly into the picture to provide huge impetus for change – in the right direction. I’ll let you read the report yourself; but I saw the talk he gave and all I can describe it as was awesome. A step forward for in the right direction and now a sense that industry knows that first mover advantage, in a carbon constrained world, has not only societal benefits but great strategic positioning. Yes, we now have hope and vision in Australia.
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