Thursday 20 March 2008

One risk too hot for insurance

Summaries - Australian Financial Review
Friday 14/3/2008 Page: 12

Rio Tinto says geosequestration, the process of burying carbon dioxide underground, is the one area where government should intervene to ensure industry is covered against compensation claims or other insurance risks. In a submission to Ross Garnaut's climate change review, Rio says the insurance sector should indemnify all other risks arising from climate change. Rio also says the Federal Government's 20 percent renewable energy target should embrace all clean technologies to reduce the cost of tackling climate change.

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