The Business Council of Australia has written to institutional investors to hit back against claims by climate change activist groups that the corporate lobby group is blocking changes to tackle global warming.
In a letter to institutional investors sent this week, BCA chief executive Jennifer Westacott and president Grant King said they wanted to clarify that the group “supports strong action on climate change”.
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| Grant King and Jennifer Westacott have written to institutional investors to clarify the group's position on climate change. Wolter Peeters |
Activist
groups such as the Australasian Centre of Corporate Responsibility
(ACCR) and Australian Conservation Foundation, both registered
charities, have been “naming and shaming" firms including AGL, BHP,
National Australia Bank, Origin Energy, Qantas, Rio Tinto, Santos,
Westpac and Woodside Petroleum over their membership of industry groups
and their level of support for climate change action.
Energy companies have also been slammed for using coal-fired power stations.The ACCR has filed resolutions at shareholding meetings and pressed institutional investors such as superannuation funds to demand the companies quit or review their memberships of the Business Council of Australia, Minerals Council of Australia and Australian Petroleum Production and Exploration Association.
Member
companies, particularly consumer-facing businesses which have minimal
emissions and are committed to strong action on climate change, such as
Telstra and the big banks, have been unnerved by the campaigns.
Ms Westacott and Mr King said in the letter to big investors the BCA is being targeted "because we have sought to be transparent about the costs and trade-offs required in the necessary transition to a low-emissions economy."
“This is a longstanding policy position and represents a pragmatic approach to a global issue.
“The BCA and its members believe this transition should take place at the lowest possible cost to ensure that Australia’s standard-of-living is not put at risk.
"Australian businesses and households must have access to energy that remains reliable, secure and affordable as the sector progressively decarbonises.”
The BCA has long supported a market-based price signal to limit carbon emissions and was a strong backer of the Turnbull government’s proposed National Energy Guarantee for the electricity sector, which was derailed last year by Coalition conservatives.
It backs Australia’s 26-28 per cent emissions reduction target by 2030 under the Paris international climate accord.
Industry representative groups are increasingly under pressure over climate change, as their disparate range of members clash over the level of proposed emissions cuts, coal, renewable energy and other energy policies.
BHP in 2017 delivered an ultimatum to the Minerals Council to stop lobbying governments to fund new coal-fired power stations or risk losing the company as a member.
BHP played a pivotal role in ousting Brendan Pearson as Minerals Council chief executive over his advocacy for "clean coal" after BHP revealed it had "material differences" of opinion with the MCA, the World Coal Association and the US Chamber of Commerce.
Mr Pearson is now a senior trade adviser to Prime Minister Scott Morrison.
The Australian Financial Review reported in April that Rio Tinto had threatened to walk away from the Minerals Council over climate change, though today it remains a member of the council.
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Ms Westacott and Mr King said in the letter to big investors the BCA is being targeted "because we have sought to be transparent about the costs and trade-offs required in the necessary transition to a low-emissions economy."
“If
we are to finally achieve a durable climate policy, we must have an
open and honest debate about the impact of the changes required to
become a lower emissions economy,” they wrote.
“We support strong
action on climate change combined with solutions to curtail the rapid
growth in energy costs and measures to improve the reliability of
electricity supply in Australia.“This is a longstanding policy position and represents a pragmatic approach to a global issue.
“The BCA and its members believe this transition should take place at the lowest possible cost to ensure that Australia’s standard-of-living is not put at risk.
"Australian businesses and households must have access to energy that remains reliable, secure and affordable as the sector progressively decarbonises.”
The BCA has long supported a market-based price signal to limit carbon emissions and was a strong backer of the Turnbull government’s proposed National Energy Guarantee for the electricity sector, which was derailed last year by Coalition conservatives.
It backs Australia’s 26-28 per cent emissions reduction target by 2030 under the Paris international climate accord.
Industry representative groups are increasingly under pressure over climate change, as their disparate range of members clash over the level of proposed emissions cuts, coal, renewable energy and other energy policies.
BHP in 2017 delivered an ultimatum to the Minerals Council to stop lobbying governments to fund new coal-fired power stations or risk losing the company as a member.
BHP played a pivotal role in ousting Brendan Pearson as Minerals Council chief executive over his advocacy for "clean coal" after BHP revealed it had "material differences" of opinion with the MCA, the World Coal Association and the US Chamber of Commerce.
Mr Pearson is now a senior trade adviser to Prime Minister Scott Morrison.
The Australian Financial Review reported in April that Rio Tinto had threatened to walk away from the Minerals Council over climate change, though today it remains a member of the council.
Links
- Australian business 'lagging' on science-based emissions cuts
- Morrison stands alone in Pacific fight over coal
- ASIC names climate change 'systemic risk' in rulebook
- Daggers drawn as Morrison fights to water down climate pact
- Airports go green as frequent flyers shamed
- PM's $500m climate package fails to placate Pacific
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