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Media

Decarbonisation

CEF in the media  |  Apr 18, 2024

Government Told To ‘Hold Its Nerve’ On Clean Tech Push

Canberra Times

Australian Associated Press – Clean energy companies and investors called on the federal government to “hold its nerve” and deliver an ambitious and coordinated package of budget incentives to accelerate the transition away from fossil fuels. In a joint statement, they urged Treasurer Jim Chalmers to use the May budget to encourage investment, as rival economies throw trillions of dollars into renewable energy and clean tech to secure their national interests. “We urge the government to hold its nerve and deliver an ambitious and coordinated package of budget incentives,” Mr Buckley said. Read more
CEF in the media  |  Apr 18, 2024

Funding green buildings risks greenwashing accusations

FS Sustainability

Climate Energy Finance (CEF) says buildings are the “low-hanging fruit” that make up the lion’s share of the big four banks’ sustainable finance target (SFT) of $385 billion by 2030 – while just 7% flows to financing clean energy and hard-to-abate sectors. There is a green financing shortfall across key sectors including energy, transport and cleantech, the independent think tank says. Report author, CEF analyst Nishtha Aggarwal says the banks’ current strategies rely on investing in “business-as-usual” real assets that “meet minimum energy efficiency regulations” – leaving the banks “open to accusation of greenwashing”. Read more
CEF in the media  |  Apr 18, 2024

Australia Can’t Afford To ‘Sit Out’ Clean Energy Race

The Australian Financial Review

Responding to criticism of Prime Minister Anthony Albanese’s Made in Australia Act, a group of energy and finance leaders joined forces on Thursday to call for the scale of budget support required for decarbonisation. Australia could not afford to “sit out” the accelerating global transition and needed taxpayer support to unlock the private capital needed for zero-emissions economic opportunities, they said. Read more
Media Releases  |  Apr 18, 2024

PM slammed for labelling Gary Banks a flat earther

The Australian Financial Review

The story quotes CEF partner – the Clean Energy Investor Group, representing developers and investors with a combined $38 billion renewable energy portfolio and a project pipeline of almost 50 gigawatts, welcomed the policy, saying it could unlock significant investment through the superannuation system. Read more
CEF in the media  |  Apr 18, 2024

“Hold your nerve:” Australia urged to deliver ambitious package to stay in clean energy race

Renew Economy

The clean energy industry is urging the federal government to “hold its nerve” and deliver an ambitious and coordinated package of budget incentives to win back investors. Responding to criticism of Prime Minister Anthony Albanese’s Made in Australia Act, a group of energy and finance leaders joined forces on Thursday to call for the scale of budget support required for decarbonisation. Climate Energy Finance think tank director Tim Buckley said the “ambitious and visionary” Made in Australia Act sets the nation up for the speed and scale of investment for a place in the global net-zero economy. “We urge the government to hold its nerve and deliver an ambitious and coordinated package of budget incentives,” Mr Buckley said. This would enable Australia to pivot from the “historic over-dependence on fossil fuels” to a zero-emissions global trade and investment leader, he said. Read more
CEF in the media  |  Apr 18, 2024

Real Estate Business | Are green buildings all that green?

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Nishtha Aggarwal, an analyst at the independent think tank Climate Energy Finance (CEF), has roundly criticised Australia’s big four banks for touting sustainability rhetoric without following through with meaningful action. “Trumpeting climate action based on the low-hanging fruit of financing minimally green-rated buildings is not enough, and leaves them open to accusation of greenwashing,” said Aggarwal. “They must put ‘their’ money where their mouth is.” An analysis of the major banks’ sustainable finance target (SFT) allocation to date found that a massive 44 per cent of funding was allocated to green buildings. Read more
CEF in the media  |  Apr 16, 2024

Japan “fossil fuel dinosaur” launches 20GW global renewables platform

Renew Economy

Japan’s largest power company and one of the largest thermal power producers in the world has announced the launch of a major new global renewables business, becoming the latest fossil giant to act on the existential threat of net zero to its business model. On balance, however, Buckley and Aggarwal say the transition of another “fossil fuel dinosaur” into offshore wind adds to mounting evidence that they are “belatedly starting to react to the existential threat of net zero to their business models.” Read more
CEF in the media  |  Apr 15, 2024

OP ED | Future Made in Australia Act puts country in global cleantech race

The Australian

The Act could be the foundation for our future as a zero-emissions trade and investment leader and global clean energy superpower, as we inevitably pivot from our historic dependence on carbon exports. Read more
CEF in the media  |  Apr 14, 2024

Future Made in Australia Act puts country in global cleantech race

The Australian

By BLAIR PALESE and TIM BUCKLEY To capitalise on the advantages of our strongly export-oriented economy and our excellent relationships with our partners in an increasingly complex and dynamic global geopolitical context, the government’s Future Made in Australia is focused on collaborating with our Asian trade partners. The government has acknowledged the need for better understanding and tools to determine how Australia encourages and develops an international green premium price signal for trade in decarbonised products. Read more
CEF in the media  |  Apr 11, 2024

DAILY TELEGRAPH | New, wide-ranging industry support is welcome, but structural problems remain, business says

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In practice a production tax credit would generate a tax credit of perhaps 10 per cent, which could be offset against a company’s tax bill for qualifying downstream processing activities, or received as cash if the company was not generating profits. The head of the Climate Energy Finance think tank, former Citigroup managing director Tim Buckley said the government’s assertion that state intervention “is the new competition’’ was correct. “We can’t afford to ‘sit it out’,’’ Mr Buckley said. Read more
CEF in the media  |  Apr 11, 2024

ABC Drive Illawarra | A Uniquely Australian Opportunity

ABC Radio

We need to get on the bandwagon or get left behind. The transition is happening. The world is moving on. If we don’t move with everyone, Australia will languish and stagnate. So what’s in this plan? Founder and director of Climate Energy Finance Tim Buckley is here. G’day, Tim. Good afternoon Jake. So how would you describe this plan in simple terms? This plan. is definitely Australia’s uniquely Australian response to the US Inflation Reduction Act. Without doubt. Read more
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