Media

China is following what Xi Jinping has called ‘the principle of building the new before discarding the old’. Read more

Last week, BHP announced the axing of 750 jobs across its Queensland coking coal operations, including the mothballing of its Saraji South mine in the Bowen Basin and the strategic review of its FutureFit skills and training academy in Mackay as part of its efforts to alleviate cost pressures. This was the start of a chain reaction, with Anglo American announcing plans to cut nearly 300 jobs across its Queensland coal division, followed by QCOAL’s announcement of the closure of one of its two sites at the Cook Colliery mine in the days following. Read more

The new rules will effectively cancel out the current National Energy Market-wide open access regime, with VicGrid saying it’s creating challenges for developers in choosing where to invest and for communities through uncoordinated development. Consultation will be open until November 5, and VicGrid hopes to have its Victorian Access Regime start in mid-March 2026. Even though the access rules are more prescriptive than anything tried to date in Australia, anything that spells out what the clear expectations are will give greater certainty, says Climate Energy Finance director Tim Buckley. Read more

Tim Buckley, a director of CEF, calculated the Albanese government had pledged $70 billion and states had promised about $6 billion since the start of 2023. This included commitments made last week as part of the federal government’s 2035 emissions reduction target of 62 per cent to 70 per cent on 2005 levels, such as $1.1 billion to develop low-carbon liquid fuels that will assist airlines to reduce carbon emissions and a $2 billion top up to the Clean Energy Finance Corporation. Only about $16 billion of the total has been deployed since December 2024, Buckley estimated. Read more

Caroline Wang, an analyst with the Australian think tank Climate Energy Finance, said the resulting renewables buildout has recently left China’s world-leading coal fleet running at less than half capacity. “They are just leading the world by an absolutely mind-boggling margin,” Wang said. Emissions in China are estimated to have fallen 1% in the first half. Meanwhile, nearly half the passenger vehicles sold in the country last year were all-electrics or plug-in hybrids. Read more

The idea that the state purse might receive a higher rate when prices surge is particularly sensitive for coalminers because they are in a sector that may not have many booms left. “Structural decline in one of Australia’s largest fossil fuel export commodities coupled with rising unit costs are the factors driving these investment and operating decisions, not Queensland’s nation-leading royalty scheme,” says Matt Pollard, an analyst at clean energy consultancy Climate Energy Finance. Read more

The government plans to cut carbon emissions by 62–70% to help stop global warming caused by pollution. Some politicians are against the plan. But expert Tim Buckley says investors might still support it because it encourages new investment. However, the political pushback could make things harder. Read more

This discusses the Australian government’s ambitious target to reduce emissions by 62–70% by 2035, although they had hoped for a 75% target. They highlight that climate risk reports, supported by scientists, emphasise the financial and environmental risks of inaction, with potential costs reaching A$50 billion annually by 2050. The speaker stresses the importance of aligning with global efforts, particularly in North Asia, to ensure future economic stability. They argue that transitioning to cleaner energy will not only benefit the environment but also reduce energy costs and create economic opportunities, despite opposition from some groups. Read more

Tim’s interview starts at 11:18 of the video. Tim Buckley discusses the Australian government’s emissions reduction target of 62–70% by 2035, acknowledging it’s lower than climate science suggests but a significant step up from previous years. He stresses the importance of balancing ambition with economic feasibility, especially with public misinformation. Buckley highlights that a carbon price, similar to Europe’s, would spur financial solutions, particularly for Australia’s resource export industry. He warns against the opposition’s stance on net-zero, calling it economically and morally detrimental. Despite criticism, Buckley remains hopeful about Australia’s potential to become a global exporter of green energy technology, offering significant investment opportunities. Read more

Tim Buckley discusses Australia’s climate targets, emphasising the need for a 62-70% emissions reduction by 2035, though he had hoped for a 70% target. He supports the government’s allocation of funds for clean energy, but questions the long-term viability of coal exports due to global decarbonisation efforts, particularly by China, Japan, and Korea. Buckley highlights China’s massive investment in renewable energy and green technologies, asserting that Australia must pivot towards green exports like green steel and hydrogen. He argues that Australia should focus on aligning with Asian trade partners’ decarbonisation efforts, noting that future growth lies in these green industries. Read more

Tim Buckley from Climate Energy Finance outlines growing urgency for Australia to take decisive action on climate change, highlighting stark risks for the economy and society if current trends continue. Buckley points to the Federal Government’s National Climate Risk Assessment, describing it as a clear signal of the significant economic consequences for Australia if climate science is not appropriately addressed. He calls for a government-wide approach to reforming Australia’s economy and exports, with an emphasis on pivoting the country’s leading mining sector towards value-added products that can support the decarbonisation of major trade partners. Read more

Tim Buckley discusses the inevitability of transitioning Australia’s economy, particularly for regions reliant on heavy emitting industries like the Hunter Valley. He reassures workers that change is coming, but there is time to adapt and seize new opportunities. Buckley stresses the importance of addressing climate science and the risks of inaction, including more frequent extreme weather events. He highlights the massive investment potential in industries like green iron, green aluminium, and electric vehicles, creating thousands of new jobs. Buckley believes the Albanese government’s efforts to rebuild public service capacity are crucial for meeting climate targets and ensuring a strong economy. Read more