Reports and Analysis
DEVELOPING NEW GAS PROJECTS IS 100% THE WRONG ANSWER: Response to Australian Federal Resources Minister Madeleine King’s address to APPEA conference
As APPEA members and lobbyists gather for the annual gas shills’ jamboree and talkfest, we take a forensic look at Resources Minister Madeleine King’s keynote address, and deconstruct the baseless claim that we need more gas – when what we need is a fast, dramatic and wholesale pivot to value-adding critical minerals and energy transition materials onshore, backed by a landmark injection of public investment. With the world responding to the game-changing $1tn US Inflation Reduction Act, we delay, we lose. And the train is leaving the station. Read more
BNP Paribas policy excluding new oil and gas flags capital shift to decarbonisation
Last week, BNP Paribas (BNPP) released its oil and gas financing policy committing the bank to excluding the financing of new oil and gas fields, and making it the second largest bank in the world, after HSBC, to make such a commitment. This builds on BNPP’s target of January 2023 that by 2030, low-carbon energies would account for 4/5 of the Group’s financing for energy production. Read more
CEF NEWS UPDATE | Our Budget wrap, China renewables surge and more
We take a close look at Budget 2023/24, finding the new $4bn in funding around renewables leaves us short of the capital needed to position Australia as a cleantech superpower and respond to the US IRA, as new figures from China show a staggering surge in RE installs Read more
ANALYSIS | Federal Budget 2023/24
The Federal Budget is a mixed bag for climate and energy with a serious case of underreach on fixing the failed PRRT gas tax, but some good policy and funding progress on a National Net Zero Authority, energy bill relief and home and business electrification, and measures to respond to the global race to renewables, such as $2bn for a green Hydrogen Headstart program – all in the context of a massive surprise $4.2bn surplus. However, we need to see more fiscal ambition to respond to game-changing international policy and funding reforms such as the US Inflation Reduction Act that are turbocharging global energy transition. Read more
MONTHLY CHINA ENERGY UPDATES | China’s Renewable Capacity Expansion to Catch Up with Newly Permitted Coal Power Plants
China continues to lead the world in all aspects of the global development of zero emissions industries of the future, both in terms of domestic deployment and manufacturing supply chains, both for domestic and export purposes. To meet increasing electricity demand, China is deploying both more coal power plants and more renewables. However, renewables are now leading China’s newly added power capacity. Read more
ANALYSIS | In a groundbreaking development, India’s National Electricity Plan is reported to propose no new coal power
An exciting report has emerged that India’s draft new National Electricity Policy (NEP) has proposed that India stop building of new coal-fired power plants beyond those already under construction. Without getting too excited preemptively, this strategic shift is potentially a critical, globally significant milestone in decarbonisation. Read more
OP ED | Penny Wong: Rebuilding World Orders with Australian Multiculturalism
China Energy Policy Analyst Xuyang Dong argues: “Australia is being remade into an active and helpful middle power in its region with its own agency, constructively and strategically navigating its presence in the geopolitics of growing China-US rivalry.” Read more
OP ED | Woodside faces major Safeguard hit as AGM looms
Woodside Energy risks lumping investors with a multibillion dollar bill, says CEF director Tim Buckley. That’s the cost of meeting measures in the newly legislated Federal climate policy, the Safeguard Mechanism. Read more
UPDATED ANALYSIS | Global EV Growth in 1QCY2023
CEF’S Matt Pollard updates his analysis of global EV sales in the first quarter of 2023, to include newly released figures from VW, as momentum accelerates globally. Read more
ANALYSIS | The impact of the Safeguard Mechanism on Woodside’s Burrup Hub gas projects: invest in solutions or cop a multibillion dollar liability
Ahead of gas giant and mega-polluter Woodside Energy’s AGM, we estimate the multibillion dollar carbon liability the company will cop under the critically important Safeguard Mechanism reforms if it fails to abate its emissions and invest in energy transition solutions in line with the climate science, investor pressure and accelerating global momentum Read more
ANALYSIS | Global EV Growth in 1QCY2023
CEF’S Matt Pollard takes a close look at global EV sales in the first quarter of 2023, and finds the industry is booming off the back of a massive acceleration in decarbonisation momentum globally. Read more
OP ED | India has again lifted its ambition on renewables: Global finance is entirely available, now we need to see Indian energy policy delivery
This month, the Government of India announced exciting plans to treble renewable energy tenders to 50GW pa so as to add 250GW of RE by 2027/28. Brookfield of Canada also announced a US$1bn investment in Avaada Energy, which has aggressive solar expansion plans, following a number of significant injections of global capital into Indian renewables this year. We examine the strong momentum building after 3 years of inaction in the country’s energy transformation – traction which now requires government policy ambition and consistency to sustain. Read more