Australian Business & Climate Group
A group comprising Santos and eight other leading companies has called for an urgent strategy on low emission technology to help reduce greenhouse gas emissions.
The group of influential Australian companies called the Australian Business and Climate Group (ABCG) has said that urgent development of a National Low Emission Technology Strategy is required to complement an Australian emissions trading scheme.
The ABCG comprises nine companies from the resource, energy, infrastructure and finance industries and comprises Deloitte, Anglo Coal, BP Australia, Mirvac, Rio Tinto, Santos, Swiss Re, VicSuper and Westpac.
In a report released at the 3rd Australia-New Zealand Climate Change and Business Conference in August 2007, the ABCG recommended the development of a National Climate Change Response to address five main elements: global action, emissions trading, complementary measures, low emissions technology strategy and an adaptation strategy.
‘We strongly support the introduction of an emissions trading scheme but it won’t work without a National Low Emission Technology Strategy,’ the group says.
In the report, Stepping Up: Accelerating the Deployment of Low Emission Technology in Australia, the companies collaborated to specifically review and recommend mechanisms needed to drive the development of transformational technologies critical if future emissions targets are to be met – the Low Emission Technology Strategy.
The group says Australia cannot afford a fragmented approach. Government and business needs to work more closely to drive essential technological change, otherwise we risk business not making the necessary investment.
‘Fundamental changes to the way Australia produces and uses energy are necessary and radical transformation of the energy sector must happen in a relatively short timeframe – much faster than the usual commercial development,’ said Susie Smith, Principal Sustainability Adviser, who represented Santos in the ABCG.
‘Natural gas is a lower carbon intensive energy source and can play an integral role in Australia’s transition to a lower carbon economy,’ she said.
‘Santos is also uniquely positioned to develop world leading geosequestion facilities – the permanent storage of carbon dioxide in depleted oil and gas reservoirs or aquifers.’
This collaboration provided an excellent opportunity for Santos to work with industry leaders to discuss regulatory, technical and commercial hurdles for the development and deployment of low emission technology and prepare a paper as a catalyst for discussion between all stakeholders.
Visit the Australian Business & Climate Group website