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Labor’s budget is good for climate and renewables – and great for the gas cartel
Renew Economy
Our detailed Federal Budget 2023 wrap: we find that overall it’s sensible and measured, with serious attention to fiscal repair and capacity building. The energy bill relief is essential, there is strong decarbonisation progress – including the Net Zero Authority, $2bn for green hydrogen and home and business electrification packages – but more funding is needed to supercharge the transition. The marginal reforms to the PRRT are a case of serious policy underreach, and the lack of attention to corporate tax and diesel rebate reform are disappointing.
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Budget lacks sufficient ambition to leverage the once in a century decarbonisation
AusBiz
Tim Buckley in an extensive interview on AusBiz discusses the good, the bad and the ugly in the 2023/24 Federal Budget
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Labor’s changes to gas tax will deliver little if any extra revenue, analysts say
The Guardian
Tim Buckley says the federal government’s marginal budget reforms to the PRRT are a massive missed opportunity: “Those deductions that don’t get allowed this year just get delayed,” Buckley said. “It’s absolutely a pull forward … it might be no increase at all” in total revenue.
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Budget 2023/24 preview – what can we expect?
Sky News
Tim Buckley previews the Federal Budget, including mooted PRRT reforms, and calls for a fiscal approach that responds to the scale and challenge of the energy transition and global policy developments, including the game-changing trillion dollar Inflation Reduction Act in the US.
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At last we’ve got a Net Zero Authority
Fifth Estate
Tim Buckley says the national Net Zero Authority is a key piece of policy and administration architecture to support and accelerate Australia’s decarbonisation pathway while looking after workers’ and communities’ interests.
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“About time:” Net Zero Authority to guide just transition from fossils to renewables
Renew Economy
Tim Buckley says a national transition authority is exactly what Australia needs to ensure the national interest is at the heart of energy and climate policy framework.
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Investors welcome New National Net Zero Authority
FS Sustainability
Tim Buckley: “The national transition authority will be really important in ensuring Australia’s workforce and communities are best placed to pivot from the fossil fuel focussed industries from the past to the clean energy and critical minerals and value adding opportunities of the future.”
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Is Snowy Hydro 2.0 worth cost and delays?
ABC Radio National PM
As the cost and timeline of Australia’s biggest renewable energy project, Snowy Hydro, blows out further, Tim Buckley says long duration storage is a critical part of enduring grid reliability. As we see a massive boom in battery installs for short to medium duration storage, absent Snowy Hydro we are going to have to find other solutions to meet our long duration storage needs.
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Lithium might be down but it’s far from out
AusBiz
What’s happening in the global lithium space? Climate Energy Finance director Tim Buckley explains in detail, including the growing geo-political interest in processed lithium. He affirms growth trends for lithium suppliers and producers, despite short term price weakness.
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Australia’s Woodside Could Face А$63B Carbon Gas Bill By 2050 – Report
Carbon Herald
The international Carbon Herald reports on CEF’s independent modelling that shows production major Woodside Energy and its partners may have to pay a carbon bill of up to A$63 billion from their gas fields by 2050 following the latest Safeguard Mechanism reforms, with Tim Buckley noting that “this is a clear commercial signal for Woodside to invest in decarbonisation.”
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The science is clear: gas is a dangerous fossil fuel and the more we burn the worse climate change will become
ABC NewsRadio
Glen Walker head of advocacy and strategy for Greenpeace Australia Pacific responds to the address at the National Press Club yesterday by the Woodside Energy CEO Meg O’Neill. 49% of Woodside shareholders last year voted against the climate report, with the board and leadership completely dropping the ball on addressing climate change and managing climate risk. Glenn cites the CEF report, which quantifies a $63 billion Safeguard liability for Woodside’s gas projects.
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Woodside Energy faces billions in liability costs thanks to Safeguard Mechanism, as AGM climate revolt looms
Carbon Pulse
Carbon Pulse reports on CEF’s new analysis which finds Woodside will face a massive Safeguard liability if it fails to decarbonise.
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