As a WA MP accuses ASIC of failing to properly investigate a collapsed coal mine threatening the state’s energy supplies, Tim Buckley says it was inexplicable that ASIC failed to scrutinise the company despite obvious red flags.
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Though his wealth was built from coal mining and other heavy industries, early on Adani recognized the promise of renewable energy, says Tim Buckley, who has been tracking investments in renewables in Asia for decades.
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Tim Buckley notes that while Adani doesn’t really think about climate science — he does understand the geopolitical and economic interests of India and he positions himself to solve that problem for his own and India’s benefit. Adani Green is what he will want to be his legacy.
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Tim Buckley comments for German and Swiss media on the Australian coal quality certificate falsification scandal, noting that while the allegations are valid, the offences are not easy to prove as the coal industry had acted skilfully, with data only slightly changed and direct bribes avoided.
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In this op ed one day ahead of the Victorian election, Tim Buckley
notes that the Labor government has ambitious new policies that will put Victoria in a world-leading position of 95% RE and 80% emissions reduction by 2035, driving lower electricity prices, gas substitution and decarbonisation.
The LNP targets 50% emissions reduction by 2030, but with no policies to deliver on this – and a commitment to turbocharging gas, which will drive the climate crisis and do nothing to address the price crisis.
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Tim Buckley says that QLD’s new tiered coal royalty regime structured to capture windfall profits will net $6.4bn more this FY than under the state’s previous royalty regime, while coalminers would still get 80% of QLD’s coal export bonanza – up to $62bn in revenue and record profits of more than $30bn before interest and corporate tax – making the industry campaign against the regime hot air.
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Tim Buckley comments that public opposition has the potential to undercut the burgeoning critical minerals industry unless governments enforce “sensible regulations” early, including recycling, processing facility efficiency and carbon standards and pollution.
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Tim Buckley speaks to the scale and significance of the coal export over-invoicing scam, noting it’s been going on for 13 years, and affects billions of tonnes of coal and potentially a trillion dollars worth of exports to our most valued trading partners including Japan, South Korea, China and India.
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Tim Buckley, who has studied the allegations over the last two years, said the coal testing scam which falsifies coal quality documentation was a significant issue for Australia, and could affect exports in the hundreds of billions of dollars.
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Tim Buckley said, “Shareholders lost $10 billion of wealth as a result of [the previous leadership’s] failing to realise the magnitude of change that was coming and act on the climate science”. The AGM coup is “a win for the rejuvenation of AGL. We now have the board majority with a very clear mandate to actually work on behalf of all shareholders.”
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“Tim Buckley, a prominent renewable energy advocate said the importance of preventing methane emissions should not be underestimated. ‘It is literally a quarter of the world’s greenhouse gas emissions every year’.”
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