Australia should consider delaying climate-change goals, says Glencore
Sydney — Australia may need to consider delaying its goals to combat global climate change in order to prioritise energy security and economic prosperity, according to a senior executive at Glencore Plc. The country’s emerging energy crisis, in conjunction with government-imposed clean-energy targets, has undermined investor confidence and may force businesses to shut or move offshore, the commodity giant’s global coal head, Peter Freyberg, said in a speech on Wednesday in Sydney. "If that means Australia needs to consider a possible delay in meeting its emission-reduction targets under the Paris Agreement in order to prioritise energy security and economic prosperity, then it’s worthy of further discussion," he said, adding that Swiss-based Glencore has invested $20bn in its Australian assets, and last year contributed more than $12bn to the economy. Australia, one of the world’s biggest coal and natural gas exporters, was among more than 150 signatories to the November deal in Par...
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