Rio tax transparency a defence against Glencore

Rio Tinto’s chief financial officer Chris Lynch says companies must “appropriately” disclose payments to governments around the world, as the miner prepares to use tax transparency as a key defence against possible future approaches from unwanted suitor Glencore, according to the Australian Financial Review.

His comments come as Rio’s latest annual report on taxes paid revealed it paid $US5.7 billion ($7.5 billion) in taxes and royalties to Australian governments last year out of $US7.1 billion globally.

The depth of Rio’s voluntary disclosure of the taxes and royalties it pays is unique in Australia and its global sector.

Next battlefront in the fossil fuel divestment campaign

Home loans have emerged as the new battlefront for the local fossil fuel divestment campaign against the big four banks, with the launch on Monday of a mortgage brokerage website to switch home owners to “clean” lenders, according to the Australian Financial Review.

The new brokerage, Future Home Loans, is the latest project from the team behind Future Super, a superannuation fund set up last year to entice investors to switch from funds invested in coal, oil and gas.

Carbon emissions stop rising for first time in 40 years

The International Energy Agency has revealed that the global emissions were unchanged last year, the first time that's happened amid economic growth in four decades, according to the Australian Financial Review.

Carbon dioxide emissions, which scientists say are responsible for climate change, were stable at 32.3 billion metric tonnes, even as the global economy advanced 3%, the Paris-based agency said Friday in a statement on its website, citing preliminary estimates.

China, the world’s biggest emitter, generated more of its electricity from renewable sources including hydropower, solar and wind and less from coal, the dirtiest fossil fuel, it said.