Media

CEF’s analysis shows Queensland’s reformed royalty structure – which applies tax rates in three tiers based on the coal price, topping out at 40% on prices exceeding $300/tonne – is expected to generate $5.4bn in 2025-26, with more than $1bn in additional windfall revenues likely over FY2025-26 under current prices elevated by the US/Israel war on Iran. This could be repeated over 2026-27 if elevated prices are maintained. The royalty scheme already delivered an all-time record $18.2bn to Queenslanders in FY22-23 alone. Read more

New CEF report warns Australia’s dig-and-ship economy faces a clear and present threat as China systematically diversifies away from Australian supply across lithium, iron ore and critical minerals. Read more

New CEF report maps China’s vertically integrated green industrial strategy, and finds resource-rich nations increasingly forming win-win partnerships with Beijing. Read more

“It is disappointing to hear Origin Energy plans to continue the Eraring coal-power plant life till April 2029. This reflects a total failure of planning by Origin to protect its customers. Origin Energy has failed to build any replacement generation capacity despite knowing for decades Eraring is due for closure. “CEF applauds the Albanese Government’s Cheaper Home Batteries program that has underpinned the installation of 200,000 new home batteries with an amazing combined capacity of 4.7GWh in just over six months. That is the speed and scale of action that is being supported by Australian residences. We just need to focus on the cost-competitive solutions at hand to permanently solve our fossil fuel addiction and the resulting energy-related cost of living crisis.” Read more

CHINESE CLEANTECH INVESTMENT INTO AUSTRALIA HAS COLLAPSED, PUTTING AT RISK THE COUNTRY’S NET ZERO & INDUSTRIAL DECARBONISATION GOALS A new report released today by independent think tank Climate Energy Finance (CEF), Rising Tide: China’s Outbound Cleantech Capital Surge Drives Global Collaboration Toward Net Zero, finds that Chinese firms have committed more than US$180bn of outbound foreign direct investment (OFDI) in cleantech since the start of 2023 – up 80% since CEF’s Green Capital Tsunami report a year ago. Read more

Tim Buckley, Director, Clean Energy Finance said: “With China playing strategically to win in all zero emissions industries of the future – and putting margin pressure on Australia’s refineries and smelters – Australia must act differently if we want to protect our industrial assets. A public private collaboration is needed. Leveraging our exceptionally strong Federal balance sheet to lower the cost of capital on renewables infrastructure can deliver low priced zero emissions firmed electricity sufficient to keep facilities like Tomago competitive.” Read more

South Korea has committed at the COP30 climate summit to join the Powering Past Coal Alliance (PPCA) and ending coal-fired power by 2040. This has major implications for coal-exporting Australia. South Korea pledged not to build any new unabated coal plants as part of its membership and reaffirmed its plan to shut down 40 existing coal-fired units by 2040. Tim Buckley, director of think tank Climate Energy Finance and former MD of global investment bank Citigroup said: “South Korea is Australia’s third largest coal market and the world’s fourth largest thermal coal import nation, importing 91Mtpa in 2024. As such, it is brilliant to see South Korea join the Powering Past Coal Alliance at COP30, moving strongly to align with its Paris Agreement commitments to slash emissions. Read more

“Today’s new US$8.5bn United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths could well deliver a US/Australia secured supply chain for critical minerals and rare earths, building demand and providing strategic financial support for value-added new projects in core materials indispensable to national capabilities in clean energy tech, computing and defence. Substance and follow through over words will be key to the credibility and real-world impacts of this new announcement. Assuming the framework materialises into action, it should provide a strong additional impetus and foundation to diversify and improve the resilience of global supply chains. Read more

China lead at independent public interest think tank Climate Energy Finance (CEF), Caroline Wang, said: “This sends a strong signal to the international community about China’s sustained commitment to addressing climate change in line with the Paris Agreement. China has not only built the largest and fastest growing renewable energy system in the world, but through its clean technology exports and investments in zero emissions energy infrastructure is helping other nations especially in the Global South to cut emissions and bolster energy security. Read more

“The target range for Australia’s 2035 emissions reduction target has today been set at 62-70%. Clearly the government has gone more for practical deliverability than ambition and alignment with the climate science. Australia’s 43% emissions reduction by 2030 target requires an annual 1.7% cut nationally since 2005, but the step up required is better benchmarked against the 1.5% annual reduction of 29% delivered so far over 2005-2025. Read more

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. Read more

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 Read more