[MEDIA STATEMENT] CMI welcomes BP and Shell net-zero initiatives

bradkerin Media Release

CMI welcomes recent initiatives from members BP and Shell in recent days as good examples of business actively managing the transition to net zero emissions with increasing near term actions and commitments towards their 2050 net-zero emission commitments.

Overnight BP has released significant extra detail on its self-described transition from an international oil company to an integrated energy company. Their commitments include a historic target to reduce oil and gas production and to significantly expand investments in renewable energy, hydrogen and bioenergy. 

On Monday Shell announced the purchase of local carbon farming operation Select Carbon. Shell has been a lead investor in nature-based climate solutions in addition to its commitments to broader emission reduction efforts towards its 2050 or sooner net zero emission goals.

We are witnessing expanded private sector interest in Australia’s carbon farming sector which is delivering millions of dollars of investment in regional Australia and extra employment, indigenous and environmental benefits.

Despite the intense pressures of the COVID crisis, many large businesses are deepening their commitments and actions to decarbonisation. It is becoming clear to many that post-COVID there is a need to reboot economies and enterprises and that such renewal must integrate stronger climate action.

CMI will continue to work with its members in its mission to help business manage risks and capitalise on opportunities in the transition to a net-zero emissions economy.

CMI is an industry association and centre of excellence for business and climate action. The CMI has over 75 corporate members and speaks for business leading the transition to a net-zero emissions economy.

To interview CMI CEO John Connor contact Clare Price 0490 252 743 clare.price@carbonmarketinstitute.org