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A pan-Asia Pacific carbon border adjustment mechanism (CBAM) taking in the wealthiest industrial nations covering steel, cement, and aluminium is the best and cheapest way to reduce emissions from these hard-to-abate sectors while preserving margins and industries, an Australian think tank argued in a report Thursday. 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

Republished from RENEW ECONOMY, 7 May 2025 Tim Buckley, from Climate Energy Finance, says that with Labor returned to government, it is time to “grasp this moment of policy certainty” and use it to build investor confidence, crowding-in domestic and foreign financial capital at scale to underpin our transition. Read more

“Without customers, suppliers and governments working together to a common time-frame, these projects aren’t going to get built, and that’s why we’ve seen so many announcements in the press of companies going bankrupt because they can’t do the capital raising anymore, or projects being slowed right down” Read more

China has emerged as the global leader in clean technology, making significant strides in renewable energy technology, manufacturing, domestic deployments […] Read more

Hoping to avoid 25% tariffs, Japanese and European officials have agreed to deals analysts are describing as financially questionable. Meanwhile, […] Read more

Under the plan, METI will evaluate submissions by automakers on their low-emission steel procurement and allocate subsidies based on the percentage of green steel being used, according to Matt Pollard, an analyst at clean energy consultancy Climate Energy Finance. “In the broader context, it is important for METI to publicly release the carbon accounting methodologies, green product definitions and emission thresholds it will use to determine products and producers that will benefit from the models approved under the new subsidy scheme,” Pollard said. Put simply, how all this works is likely to determine whether it is actually successful. Read more

Industry figures fear wariness at the Foreign Investment Review Board about Chinese-linked investment is hindering the flow of capital needed to advance Australia’s energy transition, slowing progress on new wind and solar farms and stalling acquisitions. A $813m deal by a unit of energy major BP to sell five solar farms to Beijing Energy International Holding is close to collapse as the buyer seeks to secure foreign investment approval. Read more

Some of the key highlights from this report are: Need for a clear embodied decarbonisation price signal in international trade, extending the EU ETS and CBAM with an Asian CBAM Iron ore and met coal exports from Australian mines in FY 2024 generated gross profit of A$120bn from the Asian Steel Sector, plus A$10 bn pa of royalties to each of WA and Queensland state governments. Read more

Despite being the hottest year on record, 2024 saw a cooling in attitudes towards climate action, with the realpolitik of corporate profits sidelining environmental, sustainability and governance concerns. For some companies, the reality of taking steps to achieve their green targets was shoved into the “too hard”, “too expensive”, or “just plain irrelevant” baskets. Read more

The suspension of the group came just days after its biggest member, BlackRock, said it would quit the organisation. In a letter to its clients, the New York-headquartered asset management giant said membership of the net zero initiative had “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials”. Read more