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Energy transition presents ‘massive’ investment opportunities for Australia
Sky News
Climate Energy Finance Director Tim Buckley says Australia must embrace the massive investment, employment and export opportunities that the energy transition presents. Director Tim Buckley says Australia needs more strategic partners like South Korea to tackle the climate crisis. “South Korea is the number one investor into the American battery market, they are moving at an unbelievable speed,” he told Sky News Australia.
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OP ED | How Australia can join forces with South Korea to build batteries onshore
Renew Economy
An Australia-South Korea Compact across value-added critical mineral industries, and scaling of the capacity and cooperation of our respective export credit agencies, should be a strategic federal priority for Australia. Such a Compact would bring material gain to both economies as Australia seeks to move beyond its dig and ship history and capture value further downstream by value-adding and building batteries onshore.
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Does Australia have a battery production future?
AusBiz
Tim Buckley, from Climate Energy Finance, emphasizes Australia’s opportunity to play a more significant role in the full electrification of various sectors. Tim notes Australia’s position as a significant global exporter of lithium, iron ore, and coke coal, and the need to capitalise on this status to usher in the transition to electric vehicles.
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Australia has been urged to use its raw materials to be a globally competitive battery manufacturer
Canberra Times
Australia has been urged to ink a battery supply chain pact with leading car maker South Korea to kickstart local industry. A globally competitive battery manufacturing capability onshore in Australia could be part of a critical minerals compact with the country’s top three trading partners, a think tank said in a report released on Thursday.
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How much will Australia realistically achieve with its critical minerals?
PV Magazine
Buckley of Climate Energy Finance pointed out Australia could also have an opportunity when it comes to heavy haulage electric trucks, since as a nation we command much of the market via our mining industry. “In heavy haulage vehicles, Australia is number two,” he said.
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OP ED | Critical minerals strategy needs to dig a little deeper
Canberra Times
With the world racing ahead with huge subsidies attracting massive capital inflows, the $500m commitment in the new federal Critical Minerals Strategy released this week is a drop in the ocean, and fails to take advantage of Australia’s unique position in the energy transition as a potential critical minerals value-adding superpower.
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OP ED | Missed opportunity: Critical minerals strategy falls drastically short on funding
Renew Economy
Australia has the potential to secure its position as a world leader in value-added critical minerals supply that underpins the energy transition. However, while the new Australian Critical Minerals Strategy 2023-2030 released by the federal government this week rightly foregrounds leveraging international supply and value chain partnerships, the new funding of $500m to NAIF fails to invest in Australia’s minerals boom at a scale commensurate with the opportunity – and is an inadequate response to the capital investments of our partners and competitors in the global decarbonisation race, such as the US IRA.
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President Biden seeing a ‘huge surge’ in employment activity
Sky News
Climate Energy Finance Director Tim Buckley says United States President Joe Biden is seeing a “huge surge” in employment activity after the country invested in manufacturing.
“The US has the inflation reduction act, and we are seeing investors piling in,” Mr Buckley told Sky News Australia.
“There’s a bit of trade war that’s emerged between America and China and America’s response is to invest in manufacturing capacity in America, and so President Biden’s seeing a huge surge in employment activity.”
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China and America investing in climate crisis solutions
Sky News
Climate Energy Finance Director Tim Buckley says China and America are investing in solutions to solve the climate crisis which include solar power.
“It is staggering to see how much manufacturing activity is actually underway in 2023 and it’s been led by China,” Mr Buckley told Sky News Australia.
“It’s great in many respects, we’ve got a climate emergency, but it’s great both China, America even Europe, Japan, Korea, India they’re all piling in, they’re all responding and they’re investing in solutions at a scale that actually could solve the climate crisis.”
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OP ED | “Truly momentous:” Solar is changing everything, and Australia must seize the occasion
Renew Economy
CEF’s new Solar Pivot report sees unprecedented trade and investment opportunities, in the order of hundreds of billions of dollars, for Australia to “ship sunshine”, embodying decarbonisation in its exports by using its solar and wind energy to process its world-leading critical minerals reserves, and to power manufacturing of energy transition materials.
Australia has a once in a century opportunity for investment in renewables, exports, technology and employment, including in solar. It should seize it.
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OP ED | Five bold reforms needed now to boost Australia’s climate finance in a rapidly decarbonising world
Canberra Times
Janaline Oh of Diplomats for Climate Action and Tim Buckley argue that to take full advantage of the opportunities afforded by Australia’s wealth of renewable energy and critical minerals, we must mobilise our own considerable domestic public financial capital to support national decarbonisation objectives, so as to de-risk and “crowd in” private investment, presenting 5 key reforms to do this.
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‘Huge subsidy fest’: Australia has the critical materials, but can it compete in the manufacturing race?
PV Magazine
Speaking at the Renewables and Critical Minerals Superpower webinar hosted by the Smart Energy Council on Tuesday, Tim Buckley outlined the fierce competition flooding into the clean energy space, especially around manufacturing.
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