“Coal, oil and gas companies in Australia give the impression that they are major contributors to the Australian economy, but our research shows that they are major recipients of government funds,” said Rod Campbell, Research Director at The Australia Institute.
“From a climate perspective this is inexcusable and from an economic perspective it is irresponsible. The major subsidies are Commonwealth tax breaks that mean the largest users of fossil fuels get a refund worth $7.8 billion on a tax that the rest of the community has to pay.
Report claiming global temperature rise will top 1.5C by 2030s divides scientists | The Guardian
It says Australia, to do its fair share, needs to effectively triple its emissions reduction target to 75% on 2005 levels by 2030 and achieve net-zero emissions by 2035.
'Every choice matters': can we cling to hope of avoiding 1.5C heating? | The Guardian
In what it described as a landmark report, the Australian Academy of Science painted a picture of what could happen to the country under 3C of global heating, including ecosystems made unrecognisable, food production being compromised and people’s ability to exist and survive in hotter and longer heatwaves regularly tested.
We can’t wait for this government. Let’s beat emissions together | The Sydney Morning Herald
The people who dig up, transport, sell and burn fossil fuels are the proud beneficiaries of this subsidy-through-omission. An aggressive union of vested interests has created a haven for those who want to profit from an industry incompatible with human life.
Absolute Decoupling of Economic Growth and Emissions in 32 Countries | The Breakthrough Institute
there is increasing evidence that the world is on track to absolutely decouple CO2 emissions and economic growth — with global CO2 emissions potentially having peaked in 2019 and unlikely to increase substantially in the coming decade. While an emissions peak is just the first and easiest step towards eventually reaching the net-zero emissions required to stop the world from continuing to warm, it demonstrates that linkages between emissions and economic activity are not an immutable law, but rather simply a result of our current means of energy production.
Alan Kohler: The climate spin can't go on forever. Net zero must be our aim | The New Daily
Most other countries have already made that commitment, and just about every other Australian organisation and state government has done it as well, but Scott Morrison’s current wording is that he wants to achieve net-zero emissions “preferably” by 2050.
Rosberg and Button face off at Extreme E Desert X Prix - in pictures | The Guardian
Green motorsports - finally here!
NASA just released the first direct evidence that humans are causing climate change | ZME Science
“This is the first calculation of the total radiative forcing of Earth using global observations, accounting for the effects of aerosols and greenhouse gases,” said Ryan Kramer, first author on the paper and a researcher at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, and the University of Maryland, Baltimore County. “It’s direct evidence that human activities are causing changes to Earth’s energy budget.”
Shell expects to pay Australia no resource tax on gas drawn from Gorgon project | The Guardian
Fossil fuel multinational Shell does not believe it will ever pay the Australian government a cent in resource taxes for the gas it draws from the country’s biggest gas project, Gorgon.
'Delay is as dangerous as denial': scientists urge Australia to reach net zero emissions faster | The Guardian
The Australian Academy of Science is calling on the Morrison government to accelerate the country’s transition to net zero greenhouse gas emissions in a report that examines what Australia could look like in a 3C world.
The analysis paints a grim picture in which heatwaves in states such as Queensland would occur seven times a year and last for 16 days at a time, and unprecedented fire seasons such as the 2019-20 fire disaster become a regular occurrence.
Positive outlook for investing in Australian renewables | Minter Ellison
The Australian Renewables Report 2021 reveals that nearly two-thirds (65%) of respondents will increase their investments in clean energy over the next 24 months, with 50% of respondents reporting the pandemic has not affected their investment decisions or strategies.
To understand why investors are so confident about Australia's renewables sector and why the sector is ripe for investment, read our report.
IGCC Media release: Net Zero Asset Managers initiative triples in assets under management
Net Zero Asset Managers initiative triples in assets under management as 43 new asset managers commit to net zero emissions goal
43 new investor signatories to Net Zero Asset Managers initiative will work in collaboration with clients to achieve 2030 emissions reduction targets and reach net zero by 2050 or sooner.
The Net Zero Asset Managers initiative now has a total 73 signatories representing $US32 trillion in assets under management (AUM), 36 per cent of the global total.
Net Zero Asset Managers initiative is now accredited by the UNFCCC Race to Zero campaign.
Asset managers representing over $US22.8 trillion of assets under management (AUM) today announced that they are new signatories to the Net Zero Asset Managers initiative. Following the launch of the initiative in December 2020, 43 additional asset managers are making new, enhanced commitments to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C.
The Net Zero Asset Managers initiative now has a total 73 global asset manager signatories, representing $US32 trillion in assets under management, representing more than a third (36 per cent) of the total assets under management across the globe. The breadth of signatories signals the determination of investors to play their part in achieving a net zero and resilient future and the global significance of the Net Zero Asset Managers initiative.
Renewables plus batteries offer Australia the same energy security as coal, research finds | The Guardian
The research, commissioned by the Australia Institute thinktank and released on Monday, found clean technologies provided the fast frequency response service and voltage control needed to secure the energy grid and reduce cost. But the report says regulatory barriers currently limit the ability of renewable energy and batteries to provide system security.
Legal & General ties bosses annual pay to climate targets | This is money
The FTSE 100 pensions and insurance group said its executive pay 'scorecard' – which measures how far the business has gone to achieving its annual targets and decides how much of the maximum bonus its bosses should get – would from this year include specific climate-related goals.
What is a lumen, anyway | Alan Pears, Renew Economy
Alan Pears, AM, is one of Australia’s best-regarded sustainability experts.
He is a senior industry fellow at RMIT University, advises a number of industry and community organisations and works as a consultant. He writes a column in each issue of Renew magazine: you can buy an e-book of Alan’s columns from 1997 to 2016 at shop.renew.org.au.
In this issue: Alan Pears on mitigating adverse effects of going off gas, why energy companies don’t understand consumers, and communicating energy efficiency more... efficiently!
Fundamentally, people and businesses don’t want energy—or technology. What they want is services that offer them value—and that value is a matter of perception.
Big banks’ trillion-dollar finance for fossil fuels ‘shocking’, says report | The Guardian
The world’s biggest 60 banks have provided $3.8tn of financing for fossil fuel companies since the Paris climate deal in 2015, according to a report by a coalition of NGOs.
Shell says green power shift will lift need for Australia’s LNG | The Age
Shell, which believes its oil output may have hit a peak in 2019 and is now likely to gradually decline, has revealed a brighter outlook for its liquefied natural gas (LNG) assets including those in Queensland and off Western Australia.
Why Japan's carmaking heavyweights could be facing an electric shock | The Guardian
Japan’s traditional carmaking giants need to raise their game in the race to develop pure, battery-driven electric vehicles or risk being left behind by Chinese, American and European producers, analysts have warned.
Hidden sweetener for Australia buried in EU carbon border tax | The Sydney Morning Herald
One of the leading figures in European climate policy, Peter Vis, just last month fretted that the European Union might be rushing too fast towards the sort of border carbon tax it voted for this week.
Such a tax might put “the EU in the role of judging the adequacy of other countries’ [climate policies], which is awkward”, Vis, who helped oversee the creation of the EU emissions trading system, told the UK climate journal, The ENDS Report.
Getting to net zero isn't all pain and expense - there are huge opportunities for Australia | The Guardian
It is entirely possible that we could become a world-leading exporter of green hydrogen and ammonia, zero-emissions synthetic fuels and a producer of green steel and aluminium. All this enabled through the virtually boundless amounts of renewable energy resources our continent is blessed with.