Media

The QLD state budget released on 23 June forecasts a $6.2bn operating deficit in 2026-27, consistent with the mid-year fiscal and economic review (MYFER), a $3bn improvement from the net operating deficit forecast in the previous budget. The 2026-27 forecast would represent a marked improvement from the $8.8bn deficit estimated in the current 2025-26 period. Read more

New South Wales Treasurer Daniel Mookhey delivered the state budget for 2026-27 today. NSW’s operating position continues to improve under the Minns Labor Government since it was elected in 2023. From the $10.6bn deficit in 2022-23, the 2026-27 budget forecasts a $2.3bn deficit, returning to a $1.1bn surplus by 2027-28 and continuing in surplus through 2029-30. Read more

After substantial recent investment in accelerating Australia’s renewable energy transition and green industrialisation – principally via the Albanese Government’s flagship Future Made in Australia (FMIA) program – the 2026 Federal Budget released last night lacked any big-ticket new commitments to grow our national ambition to become a renewables superpower and zero-emissions trade and investment leader, and featured some reduction of previously announced funding. The Budget saves $1.3bn over 10 years from redirecting part of the $19.7bn 2024–25 Budget measure for FMIA, and $1.9bn is rightly cut from Hydrogen Headstart. Read more

A new report by independent think tank Climate Energy Finance tracking policy, investment and technology trends in the global green iron and steel industry finds decarbonisation and electrification of the industry is undergoing structural recalibration, from speculative optimism and green hydrogen hype to incremental, halting and sporadic progress at a pace misaligned with the climate science. Steel production accounts for 7-9% of global emissions. Read more

A new report by independent think tank Climate Energy Finance (CEF) tracking policy, investment and technology progress in the global green iron and steel industry warns that Australia’s opportunity to leverage its comparative advantages to lead in low-emissions iron and steel production is narrowing rapidly, and increasingly time limited. Read more

New analysis by independent think tank Climate Energy Finance (CEF) reveals Australia’s 18 major diesel consumers pocketed Fuel Tax Credit (FTC) refunds of $3.36bn in FY2025, as ordinary Australians now face a cost-of-living crisis driven by surging oil prices. The beneficiaries of the FTC Scheme are overwhelming big multinational miners extracting huge profits from our finite sovereign assets. Read more

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