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Shell Says Australia Must Move on Climate With ‘Clock Ticking’

Australia should introduce a cap- and-trade system to reduce greenhouse-gas emissions and act “earlier rather than later” to tackle climate change, Royal Dutch Shell Plc (RDSA) said.

“The clock is ticking,” Ann Pickard, chairman of Shell’s operations in Australia, said today in a speech in Sydney, according to an e-mailed copy of her presentation. “I do think that it’s in our interest for Australia to be an example to the rest of the world.”

Australia, which has about A$200 billion ($214 billion) of proposed liquefied natural gas projects targeting Asian demand for the fuel, also needs “well thought-out policies on labor and immigration” to deliver a skilled work force, she said. A surging Australian dollar has made labor “even more important to solve,” she said.

Shell, Europe’s largest oil company, expects to invest about $30 billion during the next five years on oil and gas developments in Australia, it said in May. The company plans to pioneer the use of floating LNG technology to develop the Prelude project off northwest Australia and is Chevron Corp. (CVX)’s partner in the proposed Gorgon LNG project.

To contact the reporter on this story: James Paton in Sydney jpaton4@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.

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