Glencore’s senior executive Peter Freyberg said that the Finkel Review recommendations do not provide certainty for investors after a decade of policy failure, and that the Renewable Energy Target needs to go.
He also said that the country should ensure heavy industry survives by separating it from climate policy.
What was needed, he said, was a national energy policy that gives exemptions for heavy industries and set a measured target that did not ban more efficient coal-fired power.
Freyberg also said that Australia should have a leading role in promoting higher-energy, lower-emissions plants and carbon capture and storage.
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