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Building on the federal government’s $2 billiion Aluminium Production Tax Credit announcement to decarbonise the energy demand of the nation’s aluminium smelters – the largest source of emissions in the aluminium supply chain – the $1bn Green Iron Investment Fund leverages strategic public capital to crowd in private investment into value-added green iron projects. Comparatively, iron is the largest source of emissions in the steel value chain, with blast furnaces accounting for up to 87% of traditional, coal-based steel emissions. Read more

Tim Buckley from Climate Energy Finance joined Melinda James this morning on Illawarra Breakfast on ABC Illawarra to discuss the latest developments in the steel industry and green energy. Tune in for insights! Tim’s exclusive interview can be heard at this link from 2:15:00 to 2:23:35” Read more

The state government embraced that plan and promised $600 million to fund a 250 MW green hydrogen electrolyser and a 200 MW hydrogen power plant – both among the largest in the world – to support the steelworks, other customers, and the state’s own plans to reach 100 per cent net renewables by 2027. That Hydrogen Jobs Plan is now likely delayed, and its future uncertain, given the developments around the steelworks. Malinauskas, who has visited Whyalla recently and is reportedly on the way again on Wednesday, has refused to commit to those funds because of the financial uncertainty. Read more

In a joint statement federal Treasurer Jim Chalmers, Climate Change and Energy Minister Chris Bowen, Future Made in Australia Minister Tim Ayres and Resources Minister Madeleine King said benefits would flow to local workers, industries and communities, creating “well-paid local jobs” while also “strengthening economic resilience” and decarbonising industries. 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

Australia could miss out on $70 billion a year in export revenue if it does not pivot quickly enough to “green iron” as countries like China decarbonise their supply chains, a new report claims. By becoming a world leader in green iron, Australia could double its export revenue to $250 billion, according to the Climate Energy Finance (CEF) think tank. Read more

As the world’s top exporter of iron ore, Australia risks losing up to 50% of its $138 billion annual export revenues unless it invests in green iron production, according to a report by Climate Energy Finance (CEF). The report, Green Metal Statecraft: Forging Australia’s Green Iron Industry, argues that the shift towards decarbonisation in key markets such as China demands urgent action to maintain Australia’s role in the global steel supply chain. Read more

Distributed widely via AAP | Australia risks a catastrophic halving of its iron ore export revenues from a failure to invest in the emerging green iron industry, a think tank warns. In a peer-reviewed report aimed at Treasurer Jim Chalmers, the Climate Energy Finance think tank warns Australia will lose its global lead in iron ore, with devastating economic consequences, unless it quickly offers incentives to kickstart green iron exports. Australia’s top export iron ore could double to more than $250 billion annually if it went green and switching to exporting green iron could also reduce global emissions by one billion tonnes per year, the report found. Read more

Top global iron ore exporter Australia could lose as much as half its revenue from the sector if it fails to start producing green iron fast enough, as other countries start making steel using renewable energy, a think tank said on Friday. To avoid what could be “devastating economic consequences”, Australia needs “a suite of strategic national-interest policy and investment incentives to kickstart a green iron export industry”, the report said. Read more

Independent clean energy think tank Climate Energy Finance has called for a $20 billion Future Fund mandate to enable renewables-powered processing of green metals and for measures to accelerate investment in firmed renewable energy at scale. CEF Net Zero Transformation Analyst and lead author on the report Matt Pollard said Australia’s world leading iron ore producers have extracted huge returns on investment as China prioritised expansion of its steel mills. Read more

Australia accounts for 56% of seaborne iron ore trade, according to government figures. To avoid what could be “devastating economic consequences”, Australia needs “a suite of strategic national-interest policy and investment incentives to kickstart a green iron export industry”, the report said. “In the global race to green iron exports, Australia has numerous competitive advantages – such as abundant and cheap renewables – that we must capitalize on,” said Marilyne Crestias at Clean Energy Investor Group (CEIG). Read more

Australia, the world’s largest iron ore exporter, could see its export revenues plummet by 50 per cent unless it makes an urgent shift to green iron production, according to a new report by think tank Climate Energy Finance. The report, Green Metal Statecraft: Forging Australia’s Green Iron Industry, warns that as global steelmakers transition to low-emission practices, demand for traditional, high-emission iron ore is likely to fall sharply. This shift could cause Australia’s $138 billion iron ore revenue to halve, affecting the nation’s economy and global market standing. Read more