Wind farm turbines on the water

Media

US IRA/EU NZIA et al

CEF in the media  |  Nov 19, 2023

OP ED | Big Super shouldn’t block Brookfield’s bid for Origin Energy

The Australian Financial Review

As Tim Buckley asks: What kind of game is AustralianSuper, the country’s biggest super fund, playing with Origin Energy? It is shaping up to scuttle a bid by Canadian fund manager Brookfield et al to acquire Australia’s largest power company, gentailer Origin Energy, and transition it to renewables and storage with a ~$30bn investment – a mammoth capital injection that will be transformative for Australian decarbonisation. What is AustralianSuper offering as its alternative plan? Higher electricity prices, slower decarbonisation and more climate destruction? If it kills the deal, will it step up and guarantee a $30bn commitment to decarbonising Origin? If not, why not? If it has no legitimate answer to these questions, it should get out of the way. Read more
CEF in the media  |  Nov 2, 2023

Australia could miss emissions targets without drastic change

ABC Radio National PM

Treasurer Jim Chalmers warned Australia could fail to meet its emissions targets without drastic change, and green refining of minerals before shipping overseas could be part of the solution. Tim Buckley told ABC that we need to get out of the mentality of Australia’s traditional dig-and-ship model. Now is the perfect opportunity to permanently rebuild manufacturing and refining capacity onshore. And we need to move faster with more ambition. We should build out capacity within the coming decade instead of 2050, before other countries have already established their own supply chains, or we will permanently miss out. Read more
CEF in the media  |  Nov 2, 2023

VIDEO: The Drum Thursday 2 November

ABC TV The Drum

Tim Buckley told ABC TV that we need to find alternatives to our dig and ship model, eg. do more value-adding refining of our resources onshore. By doing so, Australia can help our trade partners by exporting embodied decarbonisation. Buckley also said Jim Chalmers’ major address on Australia’s green energy and energy transition materials opportunity was overly cautious, and Australia’s response to the IRA should be tailored by Australia’s context and the huge scale of opportunity we have here to lead the world. Read more
CEF in the media  |  Nov 2, 2023

IRA ‘response’ delayed due to skills shortage, approval red tape

The Australian Financial Review

The Albanese government has dumped plans to release a comprehensive US-style green energy industrial policy this year. Instead of meeting a pledge in last May’s budget to develop a plan before Christmas, Labor ministers are now working to a revised timeline that would see a more comprehensive response to Joe Biden’s Inflation Reduction Act (IRA) around the 2024 budget, in about six months. Tim Buckley told AFR that “they need to provide a policy framework. At the end of the day, when America throws $1 trillion on the table in subsidies, and you’re competing against China, when you leave it to the free market you miss out.”“We need to get more projects off the ground, faster.” “The government is moving in the right direction but not fast enough, and they don’t have the political mandate to act with the courage they really need.” Read more
CEF in the media  |  Oct 27, 2023

Albanese’s pittance for critical minerals means Australia’s golden opportunity goes begging

Renew Economy

Our op ed on PM Albanese’s state visit to the US. While the visit was touted as a platform for major announcements on investment into an Australian response to the game-changing Inflation Reduction Act, there was a lot of talk, but only $2bn for Australian critical minerals – entirely insufficient relative to the scale of our opportunity to lead the world in processing of minerals onshore. Read our full analysis. Read more
CEF in the media  |  Oct 26, 2023

PM Albanese’s state visit to the US – report card.

Sky News

Tim Buckley wraps PM Albanese’s state visit to the US and the need for a more ambitious strategic public capital commitment to leverage the opportunities of the US IRA, noting the $2bn additional commitment to critical minerals announced is insufficient relative to our massive opportunity as the world’s #1 exporter of lithium and does not adequately respond to the scale and pace of global decarbonisation. Read more
CEF in the media  |  Oct 25, 2023

Tim Buckley on ABC News: Australia joins the critical minerals race

ABC Radio National Drive

Tim Buckley told ABC News that the $2bn announcement by the Prime Minister Anthony Albanese into the sector through low-interest loans for miners and processors is a token response. The US has put US$1,000bn on the table to drive investment in the decarbonisation. Australian government needs to place $100bn public capital support to crowd in the decarbonisation sector, as we need to respond at the speed and scale to the size of the opportunity. Read more
CEF in the media  |  Oct 25, 2023

Extra $2b to finance critical minerals ‘lacks ambition’

AAP

Tim Buckley, director of independent public interest think tank Climate Energy Finance, said $2 billion was “a mere token response” to the Biden administration’s $US1 trillion ($A1.6 trillion) industrial and energy stimulus – the biggest in US history. “It isn’t even a down payment, it is so lacking in courage, conviction and ambition,” Mr Buckley told AAP. Read more
CEF in the media  |  Oct 14, 2023

Energy bills to fall as gas and coal prices drop, renewables go ballistic

Michael West Media

A profound investment surge in renewables, heat pump, batteries and EV manufacturing capacity globally is underway, with annual global manufacturing capacities of each due to double every 24 months at the current run rate, Tim Buckley of Climate Energy Finance (CEF) told MWM. Read more
CEF in the media  |  Sep 13, 2023

Canberra Times: New alliance calls for $100b clean energy package

Canberra Times

The Biden administration’s package includes generous tax incentives for clean energy and other key technologies and has triggered a global investment race. The alliance – including the Australian Council of Trade Unions, the Australian Conservation Foundation, Climate Energy Finance and the Smart Energy Council – is calling for a $100 billion sum over 10 years. Read more
CEF in the media  |  Sep 13, 2023

Tim Buckley on AusBiz: $100bn new capital in renewables & a diesel rebate cap to reinvest in mine haulage electrification

AusBiz

Tim Buckley told AusBiz that CEF calls for a new $100bn new capital and direct budget investment in renewables and energy transition over the next decade, as a response to Biden’s IRA, with half to focus on domestic electrification and decarbonisation, another half to focus on value-added energy transition materials exports. Part of this could be funded by a cap on the diesel rebate to mining. Read more
CEF in the media  |  Sep 11, 2023

Investors and unions press Labor to invest $100bn to compete in global green economy

The Guardian

At the Australian Renewables Industry summit in Canberra on Monday unions, the renewable energy sector, community and investor groups will call for the package to respond to massive investment overseas including the US’s Inflation Reduction Act (IRA). Climate Energy Finance’s founder, Tim Buckley, said, “we need a far more integrated and ‘big picture’ approach to encourage greater investment, commensurate with the scale of this massive renewables and critical minerals and metals embodied decarbonisation export opportunity for Australia”. Read more
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