Pollination’s Post

Australia’s energy transition leaders from government, business and capital markets – who are the movers and shakers in 2024?

Five key announcements in the budget as public service measures to secure the nation’s future prosperity with emerging technologies needed for Australia’s clean energy transition.

Five key announcements in the budget as public service measures to secure the nation’s future prosperity with emerging technologies needed for Australia’s clean energy transition.

In a new piece for New Energy World, Rachel Solomon Williams outlines what policy measures businesses and investors need to see from the UK Government this year to create a thriving low-carbon economy . Read all of the insights here 🔽 https://lnkd.in/eVes2EUs Energy Institute

Danny Kennedy succinctly expressed his views during a presentation at the Smart Energy Council conference earlier this month, captured here in an opinion piece for RenewEconomy. For Australia to be able to grow sectors to scale, policy certainty through government investment is needed. "Australia produces over half of the world’s lithium yet retains less than 1% of the profit that lithium eventually delivers in final products of batteries and EVs. Why not invest in manufacturing batteries onshore?" "It’s a sector ripe for scaling, something we’re told time and again that we can’t do. Why? We don’t commit." "Investing in onshore production of lithium cells for batteries dramatically shifts revenue streams back onshore, moving from dig-and-ship to a dig-make-sell-and-grow economy." "As in the US, a significant, strategic and focussed commitment of public investment as argued by the Climate Capital Forum would encourage international investors and crowd-in funding for industries such as battery manufacturing." Blair Palese Tim Buckley Climate Energy Finance https://lnkd.in/gHMjBVWB

The Chancellor's commitment in this week's Budget to 'invest, invest, invest' is very welcome and getting investment flowing will be critical if we are to address the UK's chronically low levels of economic growth and productivity.  The massive amounts of capital investment required for the energy transition will need a long-term approach, with the public and private sectors working in partnership - underpinned by stable policy and regulatory frameworks. Moreover, the new fiscal rules that should allow additional infrastructure investment is a positive development that can help deliver the long-term capital investment required to meet our climate and energy ambitions. However, as noted in the article below, it is now vital that GB Energy and the New National Wealth Fund are appropriately established so these new entities can harness and catalyse private investment in innovative, clean technologies and do not crowd-out investment in mature energy infrastructure assets. https://lnkd.in/edyyJg2m #investment #netzero #cleanenergy #infrastructure #growth #breakthroughenergy #budget24

Thanks Ketan Joshi for sharing this post by Fraser Stewart that very succinctly puts together a lot of what has been on my mind lately. This work is tough and enduring - the feeling of ‘are we there yet?’ is not dissimilar to Groundhog Day. It’s easy to feel deflated when there are so many barriers and hurdles to overcome. But we have to keep progressing and I firmly believe that regional Australia (all of Australia) is going to be better off for it. I see the renewable energy revolution as an economic one as well. We can’t continue down this road of ‘growth’ and call it sustainable. Communities and Country (First Nations voices need also to be at the centre of this) hosting or nearest to clean energy infrastructure are at the centre of the transition and should be treated as such. As Fraser says, “this requires a subtle but important mindset shift”, one that is against the capitalist instinct. I firmly believe that if we are to deliver a mutually beneficial transition to a clean economy, we need to utilize the power of the people - participatory budgeting, a tried and tested method for tackling the plagues of so-called democracy as we know it. Millions will be poured into the CWO REZ alone annually over 30-40 years. The communities should be at the centre of driving where that money goes. "Citizens and communities will not be passive recipients of net zero. They’re active partners who know their areas and needs and priorities well, and we could recognise that far better than we do now.” There’s a seriously scary amount of misinformation out there now. While the clean energy transition is happening whether people like it or not, the best way to combat the fake news/noise is to show people how much better the future can be when they see they have a hand in planning for it. “Part of this will come from better communicating the vision of social transformation and enormous value that the energy transition has to offer.” The other part: is by establishing the mechanisms for participatory budgeting - it works! #renewableenergy #cleaneconomy

Really insightful to read our co-founder Nick O'Donohoe's interview in the Financial Times, where he discusses how to channel more investment towards impact. He highlights the trend of development finance institutions worldwide facing pressure to take on more risk to drive impact, explaining how climate change has increasingly made this a major consideration in recent years. At BSC, 20% of our investments now consider the #JustTransition and its impact on affordable and clean energy. In particular, we've been working to place renewable energy in community hands through our CORE project, helping to make places better for people while accelerating the UK's transition to net zero. Read the full piece to discover Nick's insights on growing impact-driven investment: https://lnkd.in/eFhNcVzJ

Despite political opposition, market demand and massive private investment have propelled #Texas to the forefront of #CleanEnergy production. The booming industry has enhanced energy reliability and stimulated economic development across the state – https://bit.ly/4cVZ7B7

Important piece from Keith Anderson, Chief Executive at ScottishPower in the Financial Times. It's imperative that the next UK government prioritises an ambitious climate policy programme, and there are some reforms that can be implemented to drive investment without major financial outlay. We're in a highly-competitive race to secure green investment. Setting the groundwork for investment through a supportive policy landscape must be a key pillar of the next government's plan of action. The planning system is fundamental to doing so, the right approach can create a system that enables the development we need while also accommodating the need to preserve nature and communities right to input (more on this soon from Aldersgate Group). Not only that, we need long-term thinking that ensures the UK is a leading destination for investors, while also maintaining the capacity to retain that position in the future. That means thinking seriously about how we address skills gaps and maximise the significant job creation opportunities that come along with the transition to net zero. Delivering net zero will provide massive benefits across the country, driving down bills, increasing energy security at a time of geopolitical instability, and boosting growth. There are clearly positive measures from the major parties being put forward ahead of the launch of manifestos, but this must continue to be a race to the top and not be blown off course by electoral politics.