Our role in public policy making
We believe that the corporate sector has an important role to play in the process of developing climate change policy, and can make a valuable contribution towards the development of effective, efficient and equitable climate change policy.
Glencore actively engages in public policy discussions with a range of stakeholders on issues related to energy, carbon and climate change. We also have a range of technical experts who are able to assist policymakers in the development of complex regulations through governmental technical working groups.
Climate change policy
Glencore monitors the evolution of climate change policy at the international and national level. While we anticipate that some countries will move faster in establishing their climate change regulatory frameworks, we expect others may find it difficult to achieve their targets without significant financial and technical support.
We continue to play an informed and constructive role in the public policy development process on climate change across our different commodity businesses and in multiple jurisdictions. We work with policy makers directly and through trade associations, on issues related to clean energy, carbon reporting and carbon pricing.
Carbon pricing mechanisms
Glencore supports a pragmatic and practical global approach that prioritises a least-cost, logical transition towards lower global emissions. Glencore supports policy mechanisms aimed at achieving cost-efficient emissions reductions without compromising the development goals of nation states.
Market mechanisms are a sound tool to regulate carbon emissions, provided that they are designed to be equitable. In relation to pricing carbon, we support the following principles:
- Clear policies to allow a predictable and measured transition to a long-term price for carbon
- Using revenues from carbon pricing to manage the transition to a low-carbon future
- Maintaining international trade competitiveness across sectors and preventing carbon leakage
- Broad-based application across sectors
- Policies that are simple and effective to implement
- Support for low-emission technology development (including for fossil fuels)
- Ensuring that the price of carbon flows through to users at the end of the supply chain
Glencore is a member of a number of industry organisations at a national and international level, which provide valuable input into public policy development. These include: