Wind farm turbines on the water


Taxes and subsidies

CEF in the media  |  Sep 6, 2023

Billions to bolster NSW budget with coal tax hike


Climate Energy Finance founder Tim Buckley said the northern state ran the preferred model, which delivered major windfalls at times of high prices while easing pressure on producers when prices were low. “(We have) long been calling for a progressive NSW coal royalty scheme to generate revenues for alleviation of cost-of-living pressures and energy poverty in the state, following the leadership of Queensland,” he said. Read more
Media Releases  |  Sep 6, 2023

MEDIA RELEASE | Nsw Coal Royalty Boost Shows Government Standing Up To Coal Lobby To Act In Public Interest


CEF welcomes and applauds the politically courageous announcement by the Minns government in NSW today that it will increase the state’s coal royalties to generate a total of $2.7 billion for NSW over four years from 2024. Read more
CEF in the media  |  Jul 27, 2023

Climate Energy Finance says Hunter communities would be the major beneficiaries of progressive coal royalties

The Newcastle Herald

Hunter communities undergoing unprecedented social and economic upheaval due to the clean energy transition would be the main beneficiaries of a progressive coal royalty system, Tim Buckley argued. The NSW government is investigating increasing mining royalties as part of an effort to boost the state’s bottom line when the temporary cap on coal prices implemented to curb soaring electricity prices expires. This could involve the introduction of progressive royalties, which would require coal companies to pay more as the coal price increases. Read more
CEF in the media  |  Jun 16, 2023

OP ED | A coal royalties revamp delivered a record surplus in Queensland. Here’s why NSW must follow suit

The Guardian

Tim Buckley writes that it’s about time NSW reflected QLD’s progressive coal royalty regime which has just delivered a stunning dividend to the people of the state. Read more
CEF in the media  |  May 12, 2023

Got Gas: Will the Government’s PRRT reform make any real changes?


Tim Buckley comments on the PRRT changes in the budget: “This looks very pedestrian relative to the LNG export industry’s windfall war-profiteering and oversized contribution to Australian domestic energy price hyperinflation. The far too modest PRRT reforms in this budget are a missed opportunity to deliver a substantial social dividend to the Australian people, limiting the government’s capacity to fund critically urgent social and energy transition programs, and undercutting the government’s claims to fiscal balance and responsibility.” Read more
CEF in the media  |  May 10, 2023

Clean energy takes centre stage in federal budget: industry reactions

PV Magazine

Tim Buckley: “$4 billion in new funding to make Australia a renewable energy superpower, takes total funding to $40 billion including the previously announced programs,” but this is well below the cumulative $100 billion of public capital Climate Energy Finance considers is required to crowd-in $200-300 billion of private capital investment to position Australia as a global leader in energy transition and ensure our energy security and independence.” Read more
CEF in the media  |  May 10, 2023

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. Read more
CEF in the media  |  May 8, 2023

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. Read more
CEF in the media  |  May 7, 2023

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. Read more
CEF in the media  |  Feb 13, 2023

Carbon Counter: Big oils’ profits see return to “core business”

ABC Radio National Drive

The world’s five biggest oil companies: BP, Chevron, ExxonMobil, Shell and Total Energies; collectively made almost USD $200 Billion in profits last year. Tim Buckley breaks down this extraordinary profiteering for RN Drive Read more
CEF in the media  |  Feb 1, 2023

Our climate challenge is our greatest opportunity: So how do we get it right?

Renew Economy

The newly formed Climate Capital Forum – a coalition of financial experts, investors, philanthropists, industry bodies and NGOs – this week launched a policy roadmap detailing bold reforms to position Australia as a superpower in zero-emissions trade and investment. Tim Buckley outlines the key policy asks. Read more
CEF in the media  |  Dec 30, 2022

ExxonMobil sues EU in attempt to stop a new windfall tax

ABC Radio National Breakfast

Exxon Mobil is trying to sue its way out of a windfall war profits tax (33% levy on profits in excess of average profits over last 4 years) to tackle soaring energy prices claiming it will deter investment. Tim Buckley undoes the spin, pointing out Exxon will make $60bn profit this year and would be paying only $2bn of this under the windfall tax, and similar taxes (eg in WA and Norway) have not deterred investment. Read more

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