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Tim Buckley, Director of Climate Energy Finance, discussed the growing momentum around carbon pricing in Australia and the need for […] Read more

In a significant development this week, newly re-elected Federal Energy Minister Chris Bowen flagged that Australia is considering imposing a carbon border adjustment mechanism (CBAM) – a carbon tariff. He suggested that they could be introduced this term on imports such as cement, lime and steel, building on the Carbon Leakage Review the government commissioned from ANU expert Professor Frank Jotzo. This is a good start. We hope it signals that the Albanese government intends to use the thumping mandate it just won from the electorate to scale its green superpower agenda. Read more

In Canberra Times and syndicated across 100+ mastheads, The case for Asian carbon border tariffs has been made by think tank Climate Energy Finance days after the federal energy minister signalled openness to charges at the border on emissions-heavy steel and cement. Carbon border adjustment mechanisms, known as CBAMs, can level the playing field for heavy industries subject to domestic carbon pricing. Read more

A report by independent think tank Climate Energy Finance (CEF) argues for a carbon border adjustment mechanism (CBAM) applied by key trading partners to help correct the historic market failure to price carbon that has led to the climate crisis. 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

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. Read more

Australia’s landslide vote for the Labor Party in early May has given the government a clear mandate to tackle climate change as it makes a bid with Pacific countries to host Cop31 in 2026. More public spending to support the renewable energy transition is expected, even as the government conditionally approved an extension to 2070 of one of the biggest liquefied natural gas projects in the world. Australia is one of the biggest exporters of natural gas in the world. Read more

Woodside expects annual sales volumes to be almost 50 per cent higher in the 2030s than they are today but insists the company has not walked away from its “Paris-aligned climate targets”. O’Neill joined as Chief Operations Officer in 2018 and was appointed CEO in 2021, overseeing the $40 billion merger with BHP’s petroleum assets as the mining giant opted to reduce its carbon emissions and increase its exposure to the energy transition. Development of the US$17.5 billion Louisiana LNG (LLNG) project will catapult Woodside into the top echelon by enabling the company to deliver approximately 24 Mtpa from its global LNG portfolio in the 2030s, and operating over 5 per cent of global LNG supply. Read more

Expert view “The Safeguard Mechanism only accounts for Scope 1 direct emissions, and Woodside reports that Scope 3 is 93% of CY2024 total emissions (Scope 1-3). So, the vast majority of the massive nature of the climate bomb that is the North West Shelf is the exported emissions beyond the scope of the Safeguard Mechanism, including the methane burned in the electricity generation for the processing of methane into LNG. Woodside could progressively decarbonise their electricity emissions by incorporating solar, wind and BESS, but there is zero interest from the board or management leadership to do this so far. Read more

MWM has been calling for gas reservation for ten years. The problem is that 84% of gas is exported and, as energy analyst Tim Buckley puts it, “Ridiculously high domestic methane prices also massively drives the Australian energy cost of living crisis, both directly into homes and indirectly by driving up wholesale electricity prices. Gas electricity generators have charged an average A$200/MWh in 1HCY2025, double the $97/MWh NEM average to-date”. Read more

The Highlights * Labor’s re-election * Bradfield recount – a celebration of the integrity of our voting system * Labor’s Residential Battery Program – Minister Bowen re-commits to his election pledge of $2.3bn home and business BESS subsidy * Australia on track to see utility BESS increase 8x to 16GW by end 2027 The Big Story this week * China emissions peaked in March 2024, and now for 12 months have plateaued and marginally declined * 4MCY2025 thermal power generation in China down 3.6% yoy * China installs 46GW of solar in just the single month of April 2025 Read more

The unexpected landslide victory for Australia’s Labor Prime Minister Anthony Albanese for a second term is good news for global climate action and a strong endorsement of America’s move to clean energy and former President Joe Biden’s $1.2 trillion Inflation Reduction Act (IRA), despite efforts by Trump to dismantle it. Read more