The CEOs of Boral and Adbri say carbon emissions will simply be shifted offshore if local manufacturers don’t have a level-playing field.
Boral CEO Vik Bansal says the Federal government needs to guard against ‘carbon leakage’ to other higher emitting countries, and a level-playing field is needed.
The bosses of the biggest ASX-listed cement manufacturers argue the Albanese government needs to beef up protection for local manufacturers under the safeguard mechanism to protect jobs, echoing concerns aired byMr Dutton warned of the prospect of cement manufacturers “leaving our shores” as the costs imposed on them by the safeguard mechanism on the 215 highest emitters in Australia becomes a handicap which would simply transfer carbon emissions to other markets.
Cement makers are among the companies able to buy carbon offsets to help cut their baseline emissions. “We hope that the government and the opposition can work together to implement a carbon border adjustment mechanism as soon as possible for sectors such as ours,” he said. Adbri applauded the move by the government to lift funding for industry transition support to $1 billion.in February was appointed CEO of Adbri for a fixed term until October 2024 after being in the role on an interim basis since October.
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