Tim Buckley, director of think tank Climate Energy Finance and a former MD of global investment bank Citigroup said:
“The only thing the Coalition’s resurrection of its moribund joke of an energy policy will achieve is sending Australia back into the energy dark ages and creating massive sovereign risk for investors.
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Tim Buckley, director of think tank Climate Energy Finance and a former managing director of global investment bank Citigroup said “this iteration of the Coalition’s energy policy pamphlet belongs in the bin fire with every previous iteration”.
“This will make the 2028 federal election yet another referendum on whether Australia will stay in alignment with the global consensus of the Paris Agreement and the climate science,” Buckley said.
“This alignment is imperative to ensure Australia’s energy security and prosperity in the emerging net-zero world economy.“
Renew Economy contacted Tehan’s office to clarify whether the Coalition’s latest policies implied a plan to pull Australia out of the Paris agreement.
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The Coalition has proposed scrapping net-zero mandates, lifting the ban on nuclear power and abolishing the Safeguard Mechanism as part of its energy policy. Buckley says the prospect of major policy changes following a change of government could affect investment decisions by increasing uncertainty around the future policy framework. He argues Australia should instead align energy investment with technological developments and the policies of major trading partners.
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“The 2026 intergenerational report showcases why getting the energy transition and economic transformation right today is critical for securing the economic prosperity and stability of future generations,” said Matt Pollard, head of research at Climate Energy Finance.
“Failure to implement intergenerational policies that kickstart clean industries of the future for Australia, while Asian economies and our key trading partners are rapidly electrifying and decarbonising their economies, means the opportunity cost to posterity from inaction grows exponentially every year,” Pollard said.
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Most independent federal MPs, such as Kate Chaney and David Pocock, support a cap on credits for big mining companies, a proposal from the Climate Energy Finance think tank.
Because the Fuel Tax Credit Scheme delivers billions in benefits to big mining companies, the Minerals Council leads a group of industry lobby groups that oppose any changes to the scheme.
Despite a united front in public, the notes from the consultation group meeting suggest that these industry groups are anticipating changes to the scheme.
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Tim Buckley discussed AirTrunk’s proposed Kurri data centre, welcoming its proposed $3.7 billion investment, 350 ongoing jobs and community benefits, […]
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The announcement this week that the Whyalla Steelworks blast furnace would permanently close with the loss of more than 500 jobs, impacting the entire regional community, was a dark day. It has also been a long time coming. Sanjeev Gupta’s GFG Alliance ran this landmark industrial facility into the ground for years, with the South Australian Government accusing GFG Alliance of starving it of investment while defaulting on debts to suppliers and government and on worker entitlements.
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Tim Buckley, director of think tank Climate Energy Finance, a member group of Climate Capital Forum, similarly praised the announcement. “Excellent to see Arena funding being accelerated to stimulate early-stage ventures in the critically important cleantech sectors,” Buckley said. “This will incentivise more innovation to progress new ideas and ventures up the Technology Readiness Level (TRL) curve towards commercialisation.
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Climate Capital Forum has welcomed the Australian Government’s new Launchpad funding program for early-stage climate and renewable energy startups, announced by ARENA alongside the ‘Australian Built 2026’ climate tech showcase in Canberra today.
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“It is a dark day for Whyalla with the decision to permanently close down the Steelworks’ coal-fired blast furnace impacting more than 500 jobs and hence the entire community of Whyalla.
But putting bandaids on an antiquated, beyond end-of-life facility degraded for almost a decade under the watch of Sanjeev Gupta’s GFG Alliance has proven to be simply a waste of taxpayer funds, a delusion that kicked the can down the road and deferred making hard and timely decisions in the best interests of the workforce, the community and taxpayers.
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Tim Buckley, a former investment banker and the director of Climate Energy Finance, said on Monday that “putting Band-Aids on an antiquated, beyond end-of-life facility” had proven to be a waste of taxpayer funds.
“The future for Whyalla lies in an electric arc furnace using electricity powered by renewables to produce steel at a fraction of the emissions of coal-fired blast furnaces, and developing the state’s valuable magnetite iron ore resources,” Buckley said.
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