Reports and Analysis
The US IRA one year on: a quickstart guide to how Australia should respond
Tim Buckley of CEF and Blair Palese, founder of the Climate Capital Forum, review the key impacts of the game changing US Inflation Reduction Act, which is turbocharging the green transition, one year after its introduction, and set out the 5 key things Australia should to respond and leverage our huge opportunities renewables powered processing of world leading critical minerals and energy transition materials. Read more
CBA’s oil and gas policy ratchets up shift of finance away from fossil fuels and meets the minimum global standard
CBA released a landmark fossil fuel financing policy that rules out project finance for new (greenfield) oil and gas (O&G) extraction and for expansions of existing (brownfield) O&G extraction. CBA will also require fossil fuel clients to commit to verifiable transition plans by 2025 encompassing Scope 1, 2 and 3 emissions and aligned to a Paris Agreement “well below 2 degrees” pathway. Read more
COMMENT | AEMO Quarterly Energy Dynamics Report – fossil fuel hyperinflation moderating, emissions down, renewables buildout must now be expedited
June quarter wholesale electricity prices are down 59% year-on-year., a major relief after 18 months of unprecedented fossil fuel hyperinflation. There is a record 30GW of new renewable energy capacity now in the connection pipeline, but just 3GW was completed in financial year 2023. We need to see the rate of completions double to replace end-of-life coal power station capacity inevitably and predictably coming offline. Read more
OP ED | Epic Fail: The Productivity Commission’s Arguments Against Public Investment in Australia’s Massive Cleantech Opportunity Entirely Miss the Mark
We review the PC’s recent report which completely fails to understand the scale and urgency of Australia’s opportunity to invest public capital in leveraging our world-leading energy transition resources, attract private capital and respond effectively to unprecedented global policy interventions that are re-drawing the geopolitical landscape as the world decarbonises. Read more
MONTHLY CHINA ENERGY UPDATES | China Stays on Track: Declining Hydro, but Stable Variable Renewables Growth
While the drought and heatwaves are testing China’s climate resilience, China’s renewable scaling up remains strong during the first half of CY2023. Countering climate change requires efforts from all. We call for China to go even faster in accelerating its decarbonisation process, as well as call for concerted effort from the developed world economies. Read more
REPORT | The Lights Will Stay on: Nsw Electricity Plan 2023-30
CEF’s new modelling shows that on-schedule closure of Australia’s largest coal power station, Eraring, in August 2025 is entirely doable with accelerated transition to rooftop solar and utility scale renewables plus storage – there are more than enough projects in the pipeline to replace capacity and the capital is ready and willing. Delay would cost the people of the state $200-400bn in compensation to Eraring owner Brookfield, money which should be spent on distributed solar and the RE buildout. NSW energy minister Penny Sharpe just needs to stand firm and deliver the enormous benefits of decarbonisation to NSW. Read more
REPORT | A Value-Added Critical Minerals Bilateral Agreement for Australia and South Korea
Australia’s imperative to create a mutually-beneficial bilateral agreement with South Korea, leveraging the US Inflation Reduction Act to complement Korea’s battery industry and value-add onshore. Read more
MONTHLY CHINA ENERGY UPDATES | As climate change-driven heatwaves and drought impact China’s “dual carbon targets”, longer-term energy transition intact
China Energy Policy Analyst Xuyang Dong argues that, despite the declining hydropower caused by climate change-led drought and heatwaves in China, China’s ambition and determination on energy transition remains intact. China showed heavier reliance on coal in May, while continues renewable expansion at the same time. Read more
