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June 18, 2007 09:34am
Article from: AAP

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BHP Billiton is committing $US300 million ($360 million) over the next five years to support emissions technology development.
The world's biggest miner today released a revised climate change policy, stating it believed accelerated action was required to stabilise greenhouse gas concentrations in the atmosphere.

BHP said it would commit the $US300 million to support low emissions technology development, "internal energy excellence projects'' and encourage emissions abatement by employees and local communities.

The policy also includes new targets to reduce the energy and greenhouse intensity of its products by a further 13 per cent and 6 per cent, respectively, by 2012.

BHP said it believed action was required to stabilise greenhouse gas concentrations at levels guided by the research of the Intergovernmental Panel on Climate Change.

The company's new targets announced today will build on its previous achievements, which included a 12 per cent improvement in greenhouse intensity in the period from 1996 to 2000.

"BHP Billiton has recognised that our company, as well as society generally, must make real behavioural changes and accelerate technological progress if we are to achieve a meaningful reduction in energy use and greenhouse gas emissions,'' chief executive Chip Goodyear said.

"Our policy is about trying to play our part as best we can and encouraging those we work with to do the same.''

Mr Goodyear said BHP was on track to exceed its current target of a further 5 per cent improvement by the end of this financial year.

He said the company had also contributed significantly to research and development in clean coal technologies and had implemented several related programs across its business.

BHP said it would use its experience to assist governments and other stakeholders on the design of effective and equitable climate change policies, including emissions trading schemes.