Media Releases
CEF in the media Media Releases OP ED Podcasts Radio Interview Videos
AER AGL Aluminium Batteries Battery Budget BYD CATL CBAM China Coal Critical minerals Decarbonisation Diesel DMO Election Electric Vehicle Electricity/electrification electrostate Energy crisis Federal Election Finance Sector & Emissions Gas Green Iron/Steel Hydrogen India & Adani Methane Nuclear offshore wind Oil OP EDS Peter Dutton Podcasts Renewables Solar Tariff Taxes and subsidies US IRA/EU NZIA et al Wind
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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Post MYEFO, There Is No Time To Waste To Step Up The Energy Transition Investment Phase
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Our joint release with the Climate Capital Forum and Smart Energy Council: Incremental funding for Australia’s potential as a renewables driven critical minerals superpower of another $3bn in MYEFO does not come slightly near the scale and speed of investment and policy ambition that Australia needs today.
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MEDIA RELEASE | New report: Chinese Energy Giants’ Investment Flows Supercharge Renewables Revolution in Response to 14th “Five Year Plan”
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CEF’s China energy policy analyst, report lead author Xuyang Dong, tracked investment trends of China’s 5 top State Owned Enterprises, reviewing reporting disclosures and corporate data in the original Chinese. Xuyang Dong said:
“China is decarbonising the world and the Chinese energy SOEs are playing a significant role in this process, as their massive capital expenditure pivot into renewables and cleantech shows. China’s ambition to lead the greening of the world is evident in its energy policies and climate goals, and reflected in energy SOEs’ capex trends, which highlight the possibility of China exceeding its energy goals. ”
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FEDERAL ENERGY MINISTER CHRIS BOWEN TURBOCHARGES AUSTRALIA’S MOVE TO 82% RENEWABLES
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Tim Buckley, director of Climate Energy Finance, today hailed Federal Climate and Energy Minister Chris Bowen’s decision to expand the Capacity Investment Scheme to a targeted 32GW, a huge stepchange in ambition.
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PM Albanese’s $2bn Token Investment Into Australia’s Golden Critical Minerals Opportunity Falls Woefully Short
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CEF and Climate Capital Forum’s response to the PM’s announcement during his state visit to the US of $2bn additional investment into Australian critical minerals. ““This is a mere token response to the US$1 trillion industrial and energy stimulus of the US Inflation Reduction Act – the biggest in US history – and the single biggest opportunity for Australia this generation. It isn’t even a down payment, it is so lacking in courage, conviction and ambition.”
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MEDIA RELEASE | A new $100bn Australian Renewables Industry Package is critical for our future security and prosperity
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CEF joined The call for a ten-year $100 billion Australian Renewables Industry Package to respond to the US IRA, endorsed by partners including the Australian Conservation Foundation, Australian Council of Trade Unions, Climate Action Network Australia, First Nations Clean Energy Network, New Energy Nexus, Rewiring Australia and the Smart Energy Council.
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MEDIA RELEASE | Nsw Coal Royalty Boost Shows Government Standing Up To Coal Lobby To Act In Public Interest
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CEF welcomes and applauds the politically courageous announcement by the Minns government in NSW today that it will increase the state’s coal royalties to generate a total of $2.7 billion for NSW over four years from 2024.
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CLIMATE-WRECKING METHANE BOMB FROM FOSSIL FUELS IS 70% OF EMISSIONS UNDER SAFEGUARD MECHANISM: NEW REPORT
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A new report by eminent environmental scientist Emeritus Professor Ian Lowe, commissioned by Lock the Gate, finds that direct methane emissions from fossil fuel facilities make up ~70% of total greenhouse gas emissions covered under the federal Safeguard Mechanism (SGM), when the global warming impact is calculated over 20 years. The report also finds that the use of carbon credits to offset methane, as allowed under the safeguard, is not technically feasible, and more rigour is urgently needed, such as Zali Steggal’s proposed cap on methane within the scheme,
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