US IRA/EU NZIA et al
AGL China Coal Critical minerals Decarbonisation Electricity/electrification Energy crisis Finance Sector & Emissions Hydrogen India & Adani offshore wind Renewables Taxes and subsidies US IRA/EU NZIA et al
The Banker | Banks’ role in securing minerals for a low-carbon future
___
The opportunities are enormous for Australia, says Tim Buckley, a director at think-tank Climate Energy Finance in Sydney. “Australia has always been a lucky country. We are blessed. We supply half of the world’s iron ore and lithium. We also have the best wind and solar resources in the world,” he says. Potentially, Australia could not only export the raw minerals and materials needed for the green transition, but also do the value-added processing, Buckley suggests.
However, that hinges on international collaboration with key partners, including China, which not only has the best technology when it comes to solar, but is also the biggest buyer of critical raw materials from Australia. “As the buyer, they want a lower price. We’ve got a disproportionate power relationship,” says Buckley. “China’s got the value-add. Australia needs to reset the bar.”
Read more
MENAFN | Australia PM unveils plan to overhaul economy, invest in green energy
___
Tim Buckley, director of independent public interest think tank Climate Energy Finance, said the act would lay the foundations to make Australia a zero-emissions trade and investment leader and global clean energy “superpower”.
About 27 percent of the Australian economic output came from exports to international partners and this new act would have flow-on effects and help them decarbonise as well, Buckley told AFP.
“State intervention is the new competition. We can’t afford to ‘sit it out’. The Future Made In Australia Act puts Australia into the global race. It is the investment signal and de-risking private capital needs,” he said.
Read more
Canberra’s new plan a winner for investors
___
Albanese’s Future Made in Australia Act is a much-needed signal to promote competition, resiliency, productivity, and attract capital, investors say.
The new on-shore manufacturing laws give the green light for superannuation funds and other institutional investors to reach their billion-dollar climate funding targets, crowding in capital to the nation’s renewable economy. Tim Buckley, director of think tank Climate Energy Finance said the US’s IRA – and China’s response – “change everything”.
Read more
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
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
Welcome to the Prime Minister’s vision of the future – made in Australia
The New Daily
That there is an opportunity, there is no doubt. Tim Buckley, director of think tank Climate Energy Finance and a former managing director of Citigroup, he tells me there is $US4 trillion-$6 trillion ($6.1 trillion-$9.1 trillion) annually of global investment capital looking to find a home in the world’s clean energy and decarbonisation revolution.
But he says, in the face of the US Inflation Reduction Act and the direct stimulation and support that is providing for clean energy investment and the reinvigoration of manufacturing capacity there, “Australia can’t rely on the traditional notion of free markets in international trade and competition”.
Read more
Future Made in Australia Act ‘expands Australia’s opportunity’: Tim Buckley
Sky News
limate Energy Finance Director Tim Buckley says the Prime Minister’s Future Made in Australia Act requires a “whole of government” approach without “overriding environmental consideration”.
This comes amid criticism that the investment into renewables has plateaued and it’s the wrong time to be putting all our eggs in one basket.
Mr Buckley said there are many renewable energy projects in the investor cue “waiting for the right government policy ambition”.
“That’s what we’re getting today,” he told Sky News Australia.
He also pointed out Australia needs to leverage its trading resources and “help our major Asian trading partners decarbonize their economy”.
“It’s about working collaboratively.
“This actually really expands Australia’s opportunity investment set.”
Read more
New Straits Times | Australia PM unveils plan to overhaul economy, invest in green energy
___
Prime Minister Anthony Albanese will unveil the “Future Made in Australia Act” to help compete with global partners who are providing massive subsidies to new industries, according to an advance copy of his speech.
The act, to be passed this year, would mark a departure from Australia’s decades-old free market policies on trade and investment.
“We need to be willing to break with old orthodoxies and pull new levers to advance the national interest,” the centre-left Labor Party prime minister will say.
Read more
Australia PM Unveils Plan To Overhaul Economy, Invest In Green Energy
Barron's
Mining superpower Australia on Thursday announced a US-style scheme to pour public money into manufacturing and clean energy industries, joining the global race to build a cleaner and more resilient economy.Prime Minister Anthony Albanese unveiled the “Future Made in Australia Act” to help compete with global partners who are providing massive subsidies to new industries.
The act, to be discussed by parliament this year, would mark a departure from Australia’s decades-old free market policies on trade and investment.
“We need to be willing to break with old orthodoxies and pull new levers to advance the national interest,” the centre-left Labor Party prime minister said.
Read more
Radio France International | Australia PM unveils plan to overhaul economy, invest in green energy
___
Tim Buckley, director of independent public interest think tank Climate Energy Finance, said the act would lay the foundations to make Australia a zero-emissions trade and investment leader and global clean energy “superpower”.
About 27 percent of the Australian economic output came from exports to international partners and this new act would have flow-on effects and help them decarbonise as well, Buckley told AFP.
“State intervention is the new competition. We can’t afford to ‘sit it out’. The Future Made In Australia Act puts Australia into the global race. It is the investment signal and de-risking private capital needs,” he said.
But he said greater details were needed to ensure that local, state and federal governments worked together on ensuring the act was rolled out smoothly.
Read more
DAILY TELEGRAPH | New, wide-ranging industry support is welcome, but structural problems remain, business says
___
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