Reports of the Government’s decision to step back from implementing the Clean Energy Target are concerning for investors and for business calling for greater regulatory certainty in the energy sector.
“Investors couldn’t be more clear – Australia desperately needs an effective climate change response for the energy sector. Without it, the investment strike will continue,” said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change.
Company Leaders and Laggards Emerge; US$185 Billion in Lost Shareholder Value Seen Among Utilities Failing to Keep Pace; Solar and Wind Generation ‘Can Now Consistently Outbid Fossil-Fuel-Based Generation’
A new report published today by The Institute for Energy Economics and Financial Analysis (IEEFA) shows how economies can make billions on solar and wind investment, and avoid the huge financial losses suffered by European utilities which bet on coal and other thermal power.
New analysis by The Institute for Energy Economics and Financial Analysis (IEEFA) finds that Adani’s Abbot Point Coal Terminal is excessively leveraged, promises negative shareholders equity, and runs the risk of becoming a stranded asset if Adani’s proposed Carmichael mine does not get the A$1 billion Australian taxpayer subsidy it seeks.
Commenting on news that the Turnbull government will not place curbs on LNG exports, Bruce Robertson, Gas/LNG Australasia analyst at IEEFA said:
“The so called gas ‘crisis’ in Australia is not about supply. It is about a business model engineered by four energy companies – BHP, Origin Energy, Santos and Shell – to restrict supply to Australians in order to force prices up.
Nobel Laureate and international health expert Dr Patz to speak at the 29th Annual Scientific Conference of the International Society of Environmental Epidemiology.
Dr Patz will argue that confronting the causes of climate change is one of the largest public health opportunity of our times. Such health “co-benefits” include opportunities to reduce mortality via clean energy technology; enhance physical fitness through “active” transportation from better urban design; and improve dietary health from eating lower on the food chain.
Commenting on the sudden resignation of Minerals Council of Australia (MCA) CEO Brendan Pearson, Executive Director of Australasian Centre for Corporate Responsibility (ACCR) Brynn O’Brien said:
“Brendan Pearson’s resignation is a hopeful sign that there is pressure on the MCA to chart a new course. However, the roots of climate and energy obstructionism within the MCA run deeper than one individual.
Commenting on the Santos announcement that itexpects to recognise an impairment of GLNG of approximately US$870 million after tax, predominantly due to lower oil prices, Bruce Robertson, IEEFA Gas/LNG Australasia analyst said:
Premier Jay Weatherill and the South Australian Government’s sensible decision to back building the one of the world’s biggest solar thermal plants with storage in Port Augusta shines a light on Australia’s opportunity to make an orderly transition to 100% renewable energy, according to Solar Citizens.