Glencore position on Safeguard Mechanism reform

Media statement
Sydney, Australia

Glencore supports the Australian Government’s increased climate change ambitions and emission reduction targets. 

Our company has committed to global emission reduction targets of 15% by 2026, 50% by 2035 and an ambition of net zero emissions by 2050.

This is an important policy for Australia and at the heart of this reform is a common goal to reduce emissions – we support that goal and have provided constructive feedback on the key issues.

The question is how, while also maintaining jobs and strong industries.

The transition to a low emissions future is unlikely to be linear or uniform across geographies, time or industrial sectors and policy needs to be able to adapt to multiple circumstances.  

The legislative timeline is short and the detail is critical for certainty.

We hope the government continues to engage with companies on the key design elements of its climate policy including price certainty for carbon credit units, baseline setting, treatment of emission intensive trade exposed sectors and abatement technology development. This will provide greater long-term certainty for business.

Download Glencore's submission to the Safeguard Mechanism Taskforce from the Department of Climate Change, Energy, the Environment and Water (DCCEEW) website.

For further information, please contact:

Francis De Rosa
m: +61 417 074 751
e: Francis De Rosa

Notes for editors

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions company by 2050.

Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement.  Our ambition is to be a net zero total emissions company by 2050. In August 2021 we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.

Visit Glencore's website to find out more.

About Glencore Australia

In Australia, Glencore produces coal, copper, cobalt, nickel, zinc, lead, silver and gold from 25 mining operations. We also operate metals processing assets in Queensland, New South Wales, Western Australia and the Northern Territory, including metals smelters, concentrators and refineries.

We are among Australia’s largest producers and marketers of natural resources, connecting Australian resources with industrial customers around the world. Through our diverse portfolio, we responsibly supply the resources that advance everyday life.

We employ 17,300 people in Australia and in 2021 contributed $14 billion to the regional, state and national economies.  This included spend of $9.2 billion with 8,600 businesses across the country, as well as $2.9 billion in government tax and royalty payments.

We are committed to providing a safe, inclusive and respectful workplace for our people, to respecting the environment, to engaging openly and constructively with the Traditional Owners on whose lands we operate and to bringing value to local communities.

Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021 we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.

Learn more about Glencore Australia.