Sign up to receive occasional updates on major climate and energy finance news and developments, and notification of new reports, presentations and resources.
"*" indicates required fields
Read our privacy statement here.
Tim Buckley, energy analyst and director of Climate Energy Finance, says Western Australia’s coal industry is a long-running financial and structural failure that should have been addressed over a decade ago. He argues the government must ensure energy security and reliability while managing an orderly transition, and that new clean energy must be built before existing coal assets are shut down. Griffin Coal and Bluewaters are heavily indebted, foreign-owned and financially distressed, leaving taxpayers exposed to repeated bailouts.
Buckley says private markets have failed due to vested interests, fossil fuel subsidies and the lack of a carbon price, meaning the government must now lead. He supports a merger of loss-making coal assets, strong government intervention and a clear five to ten year roadmap with ambitious decarbonisation targets. He also stresses the need for experienced investment bankers alongside unions and environmental experts to protect workers, taxpayers and energy security.
He rejects nuclear power as too slow and expensive, arguing that renewables, storage, grid upgrades and some gas peaking are the quickest and lowest-cost solution. Buckley says global investment trends, climate science and major energy authorities all agree that renewables are the path forward, and that WA has a major opportunity to build future industries such as green iron and green steel if it moves quickly.
Source: ABC Perth Drive