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BHP Boss Calls For Price On Carbon

International mining giant BHP Billiton has urged the Federal government to manage environmental challenges by establishing a clear price signal on carbon as it reviews its emissions trading scheme (ETS).

 In a luncheon hosted by the Australian British Chamber of Commerce in Sydney today, BHP Billiton chief executive Marius Kloppers said that there was no single silver bullet to reducing emissions and the Government has to incorporate a number of variables.

“It is a long-dated problem and the nature of long-dated problems normally means that a single silver bullet does not exist to cure the ills,” he told the audience.

“There are many moving parts, technology being only one of them that will change over time. Instead, governments will need to take incremental steps that build upon each other to create a mosaic of initiatives that collectively achieve the desired result,” Mr Kloppers said.

Mr Kloppers is seeking a predictable and gradual transition to a carbon price, favoring a combination of carbon tax, land use actions and limited carbon trading.



Reporter/Anchor at CCTV America. Covering business and financial news from New York for CCTV's 1 billion viewers globally.