Tim Buckley speaks with Jaynie Seal about the newly released bogus costings for the LNP’s nuclear plan, which the CSIRO confirmed last week would cost twice the price of firmed renewables
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Tim Buckley comments for this Washington Post feature on China’s extraordinary energy transition progress and the implications for emissions.
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In the light of Trump’s election in the US, Climate Energy Finance director Tim Buckley framed China’s dominance in clean technology manufacturing as an opportunity rather than a threat. “China wants to partner with us,” Buckley said, noting that Australia’s status as China’s leading trading partner provides a strong foundation for technology transfer and manufacturing collaboration.
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The stock market reacted quickly to the SEC’s allegations of bribery and fraud against Adani Green and Azure Power. “This is a major historic event,” commented Tim Buckley, founder and director of Climate Energy Finance. “The Hindenburg research accusations of two years ago labelled this ‘the single biggest corporate fraud in world history’. I think that is right.”
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Trump is expected to reduce the US’ commitment to his predecessor’s landmark Inflation Reduction Act, which funnelled billions of dollars into clean energy.
“This opens up strategic opportunities for cooperation for many countries, including both Australia and India,” said Tim Buckley, director of the Sydney-based Climate Energy Finance think tank.
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Tim Buckley speaks to David Chau at ABC TV’s Close of Business about COP29 and how effective it is as a forum for global action on climate in the face of the election of Trump in the US and China’s staggering global leadership on decarbonisation. Tim notes that Australia’s $50m commitment to helping developing nations deals with the impacts of climate change is a tiny number compared to the $150bn in gross profits Australia’s fossil fuel exporters made in the last financial year, highlighting our hypocrisy as one of the world’s top 3 fossil fuel exporting nations.
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Australia could miss out on $70 billion a year in export revenue if it does not pivot quickly enough “green iron” as countries like China decarbonise their supply chains, a new report claims.
By becoming a world leader in green iron, Australia could double its export revenue to $250 billion, according to the Climate Energy Finance (CEF) think tank.
“However, failure to overcome the technical and economic challenges of green iron would mean Australia risks the reality that our iron exports could halve, as traditional importers restructure and decarbonise supply chains, and prioritise regions of high-quality iron ore and low-cost ironmaking,” CEF said in its report.
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Trump has expressed his determination to roll back President Joe Biden’s push to accelerate the US economy’s transition to low-emissions technology. And that may leave a green iron and green steel hole in global trade that Australia can step into. “Potentially, the emerging market could add $250 billion each year to national revenue. If we don’t capitalise on it, a new report from Climate Energy Finance states the nation could face a $69 billion budget black hole.
“This is brilliant for Australia, and if we don’t do it, we’re going to look like absolute morons in a decade’s time with Oman, Saudi Arabia, Brazil and Guinea having eaten our lunch,” report co-author Tim Buckley said.
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