WA Gas Fracker fined $40k for Greenwashing by ASIC
Black Mountain Energy, which plans controversial hydraulic fracturing to export gas from the Kimberley region in Western Australia, has been fined nearly $40,000 by the corporate regulator ASIC for allegedly false and misleading claims it would achieve net-zero emissions, aka Greenwashing.
The company paid the fine on a 'no-admissions' basis.
The company argues on its website that gas is a transition fuel and is “committed to protecting the environment to achieve long-term sustainable operations. We aim to develop Project Valhalla as an environmentally friendly natural gas operation once in production. The aim is to incorporate environmentally standards where possible in relation to emissions.”
The company received approval from the WA Labor government to export gas in late 2021, from the Valhalla Project in WA's Canning Basin, west of Fitzroy Crossing.
Black Mountain plans to start drilling in 2024 and commence early-stage production in 2026.
The IPCC and IEA say no new fossil fuel projects should be started to meet global climate goals.
The Kimberley region is currently experiencing its worst flood event on record, contributed by rising greenhouse gas emissions by use of fossil fuels.
Story Source: https://www.watoday.com.au/business/companies/kimberley-fracker-fined-for-greenwashing-with-net-zero-claims-20230105-p5cakq.html
Map of the Kimberley region, including lease EP371 held by Black Mountain. Image from Black Mountain website.