If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Rio Tinto Likely To Receive Free Carbon Permits Worth $462M in 2010

steel.jpgRio Tinto is likely to be the biggest recipient of public support under the Australian Federal Government’s carbon trading scheme. Free carbon permits worth $462 million are expected to flow to the company in 2010, the Sydney Morning Herald reports.

Under the scheme, the steel and cement industries, along with aluminum smelters, are eligible to cover 90 percent of their carbon emissions with free permits.

The scheme will allocate about $3.5 billion, if carbon permit price is $25, to emissions-intensive, trade-exposed industries during the the scheme’s first year of operation. The total value of free permits allocated to Australia’s heaviest polluters is expected to rise to $5.3 billion in 2015 if the carbon permit price reaches $35.

Don Henry, the executive director of the Australian Conservation Foundation told the paper that “These huge levels of public support mean the Government has bent over backwards for the biggest polluters…It risks entrenching in our economy the emissions-intensive activities that we are supposed to be trying to stamp out.”

In January, Rio Tinto was named one of the 100 most sustainable companies by Corporate Knights Inc. and Innovest Strategic Value Advisers.

Environmental Leader Product and Project Awards 2016
Sponsored By: Environmental Leader

Merging Industrial Air and Water Pollution Solutions Provides Better Results, Lower Cost
Sponsored By: Anguil Environmental Systems

Just the Facts: 8 Popular Misconceptions about LEDs & Controls
Sponsored By: Digital Lumens

Top 10 Steps for a Successful EMIS Project
Sponsored By: Sphera Solutions


Leave a Comment

Translate »