Coal mining companies say they will raise $A1 billion ($US824.75 million) for research into clean coal technology to combat climate change.
The Australian Coal Association today said the funding would be used for research, development and demonstration of such technology.
The money would be raised over 10 years through an industry levy, ACA executive director Mark O’Neill said in a statement.
Mr O’Neill said this was the biggest financial commitment of its kind in the world and reflected the industry’s growing confidence in the role technology could play in reducing greenhouse gas emissions.
It also came in response to the increasing emphasis governments were placing on climate change and the role of clean coal technology, he said.
Business in Asia Today – May 11, 2007
published by Asia Pulse