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MEDIA RELEASE | Diesel Fossil Fuel Subsidy Must be Slashed to Decarbonise Mining, Boost Productivity; Fortescue Backs Reform
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CEF’s new report finds that Australia’s largest taxpayer-funded fossil fuel subsidy – the diesel Fuel Tax Credit (FTC) Scheme – is entrenching dependence on imported high-emissions diesel to power mining operations, undermining climate targets, damaging productivity and draining tens of billions from the federal budget.
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AUSTRALIA MEDIA RELEASE | NEW REPORT: IN THE MIDST OF A TRADE WAR, THIS IS ONE TARIFF THE WORLD DESPERATELY NEEDS – AND AUSTRALIA SHOULD LEAD
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As Energy Minister Bowen flags a carbon tariff on some imports, Australia well placed to lead development of a path towards a regional Asian Carbon Border Adjustment Mechanism
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GLOBAL MEDIA RELEASE | NEW REPORT: IN THE MIDST OF A TRADE WAR, THIS IS ONE TARIFF ASIA DESPERATELY NEEDS
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Australia is well placed to lead development of a path towards a regional Asian Carbon Border Adjustment Mechanism involving China, Australia, Japan, Singapore and South Korea, as it bids to host COP31. China, as the world leader in decarbonisation and in steel, aluminum and cement, is key.
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NEW REPORT: COALITION’S NUCLEAR FOLLY WOULD COST AUSTRALIAN ECONOMY AT LEAST $4.3 TRILLION BY 2050
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The CEF analysis exposes damaging flow-on costs to the economy for which the Frontier modelling fails to account.
Combined with Frontier’s extreme underestimation of the capital costs of building nuclear reactors, these costs accumulate to $4.3 – 5.2 trillion by 2050, 13-16 times the $331bn price tag for a nuclear Australia assumed by Frontier Economics.
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MEDIA RELEASE | SUPERPOWERING-UP: Accelerating the Electrification and Decarbonisation of the Pilbara
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A new report released today by independent public interest think tank Climate Energy Finance (CEF), SUPERPOWERING-UP, with a foreword by former chief scientist Dr Alan Finkel, finds that failure to act now to electrify and decarbonise WA’s Pilbara region – Australia’s resources engine room and the world’s biggest exporter of iron ore – risks Australia’s biggest single future export opportunity: to potentially double our iron exports to $250bn pa by producing green iron.
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STATEMENT | Gas Strategy Huge Misstep on Australia’s Path to Decarbonised Future
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“It is ridiculous and beyond disappointing that the Australian Government in 2024 is releasing a long-term strategy that centres methane gas in the transition to net zero by 2050. The strategy released today is a massive misstep in the context of the strides the Albanese government has been making in pivoting to our economic future as renewables powered zero-emissions trade and investment leader.
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GREEN (BUILDINGS) WASH? ONLY 7% OF BIG 4 BANKS’ “SUSTAINABLE FINANCE” GOES TO RENEWABLES & DECARBONISING INDUSTRY
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The new analysis is the first to quantify and compare the capital allocations of the Big 4 banks to renewable energy and whole of economy decarbonisation.
It reveals that only 7% of the Big 4 banks’ collective $385bn sustainable finance target (SFT) by 2030 is directed to financing renewable energy and hard to abate industries. The vast majority of their climate-related capital allocations – between 44% and 72% – channelled into the low hanging fruit of BAU ‘green buildings’ that meet minimum energy efficiency regulations.
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REPORT OF FELS INQUIRY FINDS WIDESPREAD PRICE GOUGING & UNFAIR PRICING IN ELECTRICITY MARKET
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The Fels report released today finds There is price gouging in the electricity market and widespread gaming of the system by gentailers, as there has been in transmission, meaning consumers are paying too much and exacerbating the cost of living crisis.
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Green Steel Supply Chains are Australia’s Top Decarbonisation Opportunity
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Allocating taxpayer monies to support BlueScope Steel to invest $1bn to lock in high emissions blast furnace technology for the next 20 years is a missed opportunity according to Climate Capital Forum. Much stronger incentives are urgently needed to reduce – not support new – fossil fuel powered
production.
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