9 May 2022

CLIMATE POLITICS

Albo finds his mojo in push for green metals and EV batteries (Renew Economy): Federal Labor leader Anthony Albanese has pitched a vision of a revived Australian manufacturing sector and a resources sector able to move past fossil fuels as he ‘officially’ launched the party’s election campaign in Perth over the weekend. The launch on Sunday sought to position Labor as the party embracing Australia’s potential as a global supplier of ‘green’ materials used in the production of clean energy technologies, as well as boosting Australia’s own manufacturing capacity.

Charity boss: Governments should be ‘horsewhipped’ over energy policy (Sydney Morning Herald): Smart Energy Council chief executive John Grimes has rejected complaint by the government that his organisation is acting politically and instead accused the federal government of committing an “economic crime” against the Australian people by blocking the renewable energy industry.

Farmers want climate clarity from major parties (Australian Financial Review): The role of farmers in climate change was barely mentioned when the Agriculture Minister and his opposite number debated a few weeks ago. Agriculture contributes almost 15 per cent of Australia’s emissions (mostly from livestock), the fourth most by sector behind electricity, stationary energy and transport.

Aust climate summit could win back Pacific (The West Australian): Australia could rebuild ties with the Pacific by co-hosting international climate talks in 2024 with its smaller and most vulnerable neighbours. A report issued by the Australia Institute on Friday suggests hosting the event could ease diplomatic rifts, tackle climate change on the frontline, and bring economic benefits from tourism. Richie Merzian, a director at the independent think tank, said partnering with neighbours on the United Nations’ largest event would demonstrate solidarity over the impact of climate change in our region. Labor has pledged to bid to host the UN climate conference in Australia in 2024 if it wins the election, and a decision could be made as soon as November this year.

Greens join push to kick gas, with $235 million “electrify everything” pilot (Renew Economy): The Australian Greens have become the latest to embrace a plan for electrifying energy use, saying Australian households and businesses can cut energy costs and slash emissions by switching to renewable electricity. Australian Greens leader Adam Bandt announced details of the Greens’ $235 million “electrify everything” pilot plan, providing funding for an entire residential suburb and a regional town to shift all of its energy use onto electricity, at the Smart Energy Expo in Sydney.

Will we be saying goodbye to petrol? What the major parties are planning for electric vehicles (ABC News): Soaring petrol prices across Australia have sparked fuel security concerns. But that's not the only thing. It has also sparked hope in Australians — hope that their future government will invest in a transport system that isn't reliant on oil, but electricity.?Here, we break down what the major parties are offering around electric vehicles.

Coalition climate target consistent with more than 3C global heating, research says (Guardian Australia): The Morrison government’s climate change commitments are consistent with more than 3C of global heating, bordering on 4C, a level that would lead to catastrophic damage across the planet, according to a new analysis. Labor’s climate target was found to be consistent with about 2C of heating above pre-industrial levels. Both would be expected to lead to the loss of tropical coral reefs, including the Great Barrier Reef, and a significant rise in the number of extreme heat events in Australia, assuming other countries took equivalent action.

CARBON MARKETS

Woodside sweeps up carbon offsets for 2030 target (Australian Financial Review):? Woodside Petroleum has acquired nearly all carbon emission offset credits it needs for its 2030 emission reduction target, chief executive officer Meg O’Neill said, batting away allegations about the company’s commitment to meeting its net zero by 2050 commitment. Woodside shareholders will within weeks vote on the proposed $41 billion scrip-based merger deal with BHP Petroleum, a deal that climate advocates have attacked for the company’s planned oil and gas expansion.

‘Aussie carbon credits heading for $US100’ (Australian Financial Review):?Veteran fund manager Tim Samway has tipped Australian carbon credits to surge to US$100 ($141) a unit as his cattle station and carbon farming platform Packhorse Pastoral Company acquired its third property and kicked off a $62 million equity-raising to fund further acquisitions.?“Everything that I have read, and in meetings I have held with institutional investors, tells me the carbon price will be $US100 a unit in years to come, not $US30,” Mr Samway, chairman of $10 billion fund manager Hyperion Asset Management, told The Australian Financial Review. ?

Think tank calls for complete overhaul of troubled Emissions Reduction Fund (Renew Economy): There are renewed calls for an overhaul of the troubled Emissions Reduction Fund, after the Morrison government’s flagship climate policy was plunged into crisis by a series of surprise government interventions and questions about the credibility of the carbon offsets it issues. The call has come from the progressive think tank The Australia Institute. Its executive director, Ben Oquist, told the Smart Energy Expo in Sydney that whichever party formed government after the election needed to commit to a substantial review of the Emissions Reduction Fund. Oquist says that while The Australia Institute has sought to support improvements to the design of the Emissions Reduction Fund, a much more comprehensive reform overhaul was now needed.

CORPORATE SOCIAL RESPONSIBILITY

‘Globally irresponsible’: Billionaire Cannon-Brookes to fight AGL coal split (Sydney Morning Herald): Tech billionaire Mike Cannon-Brookes has become power giant AGL’s biggest shareholder and declared he will use his stake to vote against the company’s plans for the future which would see it continue to burn coal for another 20-plus years. In a letter addressed to the board of directors and circulated among shareholders on Monday night, Cannon-Brookes said he had acquired more than 11 per cent in the nation’s largest power company because “we fundamentally believe there can be a better future for AGL”.

Companies brace for scope 4 emissions, but this time it’s good news (Australian Financial Review): Australian businesses are waking to the reputational opportunity presented by reporting on the loosely defined concept of “scope 4” carbon emissions, but experts say it is a distraction from meaningful carbon accounting. The addition of a fourth “scope” to the global system of carbon accounting has been debated for almost a decade by those who create emissions standards. The measure refers to emissions avoided thanks to the company’s products.

McArthur River Mine representatives sat on government tender panel that chose new independent monitor (ABC News): A massive lead and zinc mine at the centre of numerous environmental scandals had a hand in the appointment of its own independent regulator, according to confidential documents obtained by environmentalists.

The revelation is contained in tender documents released to the Environment Centre NT (ECNT) under Freedom of Information laws. They relate to the appointment of the McArthur River Mine's new independent monitor — an environmental oversight body that assesses the mine and the government department regulating it, the Department of Industry, Tourism and Trade (DITT).

Australia’s biggest industrial players are focusing on climate solutions – why isn’t the political debate? (The Guardian): One of the most striking statements on climate change during the election campaign has come from an unlikely source – the owner of the country’s most power-hungry industrial plant. Tomago Aluminium, near Newcastle, consumes about 11% of all power generation in New South Wales. For years, its management has warned about the economic impact of policies to cut Australia’s greenhouse gas emissions. In the past, Tomago’s chief executive, Matt Howell, argued that a shift away from coal would push up prices and could lead to blackouts and the closure of the smelter. His argument that Australia would stop “making things” if it did not have baseload fossil fuel power was published on the front of the Daily Telegraph and praised by right-wing commentators including Peta Credlin and Ray Hadley. But times, and opinions, change. This week, Howell issued what was effectively a challenge to Australia’s biggest emitter, AGL Energy, to embrace renewable energy much more rapidly, and declared that Tomago was prepared to give up coal-fired power by the end of the decade.

Tasmania slowed logging and became one of first carbon negative places in the world (WA Today): In 2011, two Australian environmentalist millionaires, Wotif.com co-founder Graeme Wood and Kathmandu clothing brand founder Jan Cameron, bought themselves what was then the world’s largest woodchip mill and infuriated both the state government and local forestry industry by closing it down. Wood was unapologetic. “I think it is time to move on. I’m interested in the future, I’m interested in economic development [and] Tasmania needs it badly,” he told the ABC at the time. “I see this as the most effective way of achieving that.” What he might not have known was that their decision to shutter the Triabunna Mill brought about a “profound and unheard of miracle”, one of Australia’s most acclaimed scientists told the Herald and The Age yesterday.

“Not aligned to Paris:” AGL concedes coal exit plans don’t meet climate goals (Renew Economy): AGL Energy has conceded its controversial demerger plans are not consistent with Paris climate goals, despite a majority of shareholders indicating last year they would supporting a demerger only if it met climate targets. The company’s scheme of arrangement – a 350 plus page document outlining the details of the proposed company split – appears to support many of the arguments pushed by tech billionaire Mike Cannon-Brookes, who is fiercely opposing the demerger. The centrepiece of the strategy for the newly formed Accel Energy, which will operate the remaining coal generators, is to keep the Bayswater coal generator in NSW running until 2033, and the Loy Yang A brown coal generator as late as 2045.?

GREEN PROJECT AND INITIATIVES

Danish giant reveals details of giga-scale renewable hydrogen plans in Murchison (Renew Economy): Details have emerged of the Murchison Hydrogen Renewables project proposed for near Kalbarri in Western Australia, including more than 5 gigawatts of wind and solar, a big battery, a 3GW electrolyser and the production of roughly 2 million tonnes a year of green ammonia. The huge project, initially proposed by Hydrogen Renewables Australia in 2019, is now being led by Copenhagen Infrastructure Partners, to produce renewable hydrogen and ammonia for domestic and export uses.

Massive big battery and solar farm proposed for NSW coal country (Renew Economy): Australian renewables developer Maoneng has unveiled new plans for a massive 400MW, four-hour battery, which the company hopes to build alongside a 550MW solar farm in the New South Wales Upper Hunter region, a centre for coal mining. Maoneng, which recently gained planning approval to build what could be South Australia’s biggest battery, says the plans for the near gigawatt capacity renewable energy hub are in the first stages of the State Significant Development assessment process. And despite having not yet submitted a development application, the company says it expects to have competed the project as early as 2025, with construction of the solar and big battery expected to take 18 months and create up to 500 full-time equivalent jobs.

Minister’s mission to Europe to focus on renewable hydrogen (Media Statement – The Hon Alannah MacTiernan MLC): Western Australia's renewable hydrogen industry and rapidly growing global demand for clean energy is the focus of a WA Government mission to Germany and the Netherlands. Hydrogen Industry Minister Alannah MacTiernan is in Europe to promote WA's renewable hydrogen potential and identify opportunities related to the Joint Declaration of Intent that was signed between the Australian and German Governments in 2020. The WA Government's comprehensive Renewable Hydrogen Strategy, combined with the Joint Declaration of Intent, means WA is well placed to benefit from Germany's escalating demand for green hydrogen. As part of the mission, the Minister will participate in the World Hydrogen Summit 2022 in the Netherlands, focused on global hydrogen supply chains, and use the opportunity to present the WA Government's Renewable Hydrogen Industry Prospectus.

Fortescue urges joint “Green Pilbara” vision of giga-scale wind, solar and hydrogen (Renew Economy): Fortescue Future Industries, Andrew Forrest’s highly ambitious green energy play, has hinted at joining forces with other parties to create a single “green Pilbara” vision for giga-scale projects of wind, solar, battery storage and green hydrogen. Fortescue’s stated ambitions for green hydrogen over the next decade are unparalleled anywhere in the world, but it is just one of a number of parties proposing projects of unprecedented scale in the wind and solar rich Pilbara region. Forrest has declared a remarkable target of producing 15 million tonnes a year of green hydrogen by 2030, an effort that would likely require some 200GW of wind and solar and other renewable sources.

Renewable hydrogen target to be investigated for Western Australia (Media Statement – The Hon Bill Johnston MLA): The McGowan Government is supporting the growth of a renewable hydrogen industry in Western Australia by investigating the implementation of a Renewable Hydrogen Target. This approach would set targets for retailers in the South West Interconnected System (WA's main electricity grid) to procure a certain percentage of electricity fuelled by renewable hydrogen, creating a local market which would support emerging hydrogen projects and improve grid stability. The design of the Renewable Hydrogen Target will draw on the elements of the Commonwealth Government's Renewable Energy Target, which has successfully incentivised investment in renewable energy since 2001.

Fortescue to fund new solar factory as it lays bet on thin-film solar (Renew Economy):?Fortescue Future Industries has tipped new funds into Dutch thin-film PV maker Hyet Solar, in a move to fast-track the delivery of a Netherlands-based factory that aims to produce at least 40MW of low-cost solar modules a year. FFI said on Tuesday that it has joined Dutch investment fund Teslin Participates in providing an undisclosed sum of “new growth capital” to Hyet Solar, the PV and hydrogen tech specialist in which FFI owns a majority stake. The move is the latest by the green energy arm of Andrew Forrest’s Fortescue Metals Group to shore up a ready supply of low-cost, easy to deploy solar modules, which will be a crucial ingredient of FFI’s plans to produce 15 million tonnes of green hydrogen a year by 2030.

OTHER MATTERS OF INTEREST

Climate Council finds 25pc of homes in Nicholls electorate will be uninsurable by 2030 as flood risk climbs (ABC News): With every year that passes, John Pettigrew worries more and more for his neighbours on the banks on the Goulburn River. Living in the federal electorate of Nicholls in northern Victoria, the chair of the Goulburn Valley Environment Group has long been campaigning for climate action and it is front-of-mind during the federal election. But as well as the effects of climate change, the region could be one of the worst hit by an insurability crisis experts say is looming across the country.

‘Older people destroying our future’: Geelong gas terminal plan sparks strong opposition (WA Today): It’s not that Millie Forwood and Dan Tadmore spend all day talking about global heating or species extinction. But, like many 17-year-olds, neither of these Geelong Grammar students want to ignore the urgency for greater action on the climate crisis. “My parents say to me, ‘When I was your age, I was kicking the footy and worrying about minor things – now you guys have to fight for your future in between school work and seeing friends.’ It’s just crazy how serious it’s getting,” said Forwood, who, like Tadmore, is a year 12 student at the prestigious private school. Both are members of the school’s Environmental Action Team and part of strong community opposition to a proposal to build a large, floating gas-import facility in Corio Bay, in Geelong. The team has made a video to share their concerns.?

The rush to renewable energy means a new mining boom. But first, Australia needs to make some tough choices (ABC News): Electric cars, solar panels, large batteries and wind turbines — the technology needed to go green relies on what can be a dirty industry. "It's absolutely ironic, but to save the planet we are going to need more mines," says Allison Britt, director of mineral resources at government agency Geoscience Australia. The need for one of the biggest increases in mining the world has ever seen is forcing some tough choices and redrawing old battlelines between environmentalists and miners.

Rio, energy users fret over coal power replacement (Australian Financial Review): Rio Tinto chief executive Jakob Stausholm says Australia is not building renewable energy fast enough to remove coal-fired power from the electricity grid in the smooth manner required.

The battle around the future of AGL Energy has thrust the pace of coal-fired power exits into the election campaign and Mr Stausholm said the rate of coal closures would ultimately be set by Australia’s commitment to investing in renewables.?