12 April 2021

CLIMATE POLITICS

 A 'win' for fossil fuels: green groups critical as former Origin Energy boss named chief of climate body (The Guardian): Environment groups and the Greens have questioned the appointment of former Origin Energy chief Grant King as the new chairman of the Climate Change Authority, while former members of the authority have described it as a “win” for the fossil fuel industry. The energy and emissions reduction minister, Angus Taylor, announced King’s appointment on Friday, along with Susie Smith, the chief executive of the Australian Industry Greenhouse Network, and John McGee, the former managing director of the Bank of New York Australia, as fellow members. 

'The direction is clear and it's net zero': King (The Australian Financial Review): The newly appointed chairman of the Climate Change Authority, Grant King, has given a ringing endorsement to a net zero emissions target, ahead of the revamped work program to be assigned to the advisory agency by the Morrison government. The new role for Mr King, a former long-serving CEO of LNG exporter Origin Energy and former president of the Business Council of Australia, was met with a storm of protest from environmental groups convinced that the former coal power and gas executive will act as a brake on urgent action needed to reduce emissions. 

"I lost the support of my colleagues": Kean explains decision to dump Turnbull (RenewEconomy): NSW energy minister Matt Kean has said that he had lost the support of his NSW coalition colleagues for the appointment of Turnbull to chair the Net Zero Emissions and Clean Economy Board and was therefore forced to back out of making the appointment. Speaking to ABC Radio National on Wednesday, Kean said that he needed to ensure that whoever led the zero emissions advisory board would have widespread support across the community. 

Climate change 'next security threat' (The Australian): Rapidly escalating climate change impacts in Australia's immediate region pose an unprecedented & shy national security threat that has been 'largely ignored' by strategic planners, a new report warns. 

China's reliance on coal steam gathers (The Australian): A big increase in coal-fired power stations opening in China offset all the closures in the rest of the world last year, a report says. 

Australia's carbon price set to double, perhaps even without federal policy (RenewEconomy): The cost of Australian carbon credits could more than double over the next decade, as momentum towards the goal of net zero prompts the market to put a higher value on decarbonisation, new research by RepuTex finds. At the end of March, the spot price of a Australian Carbon Credit Unit (ACCUs) was just under $18.40, which was already up 11 per cent on the January price. ACCUS are credits issued by the Clean Energy Regulator to carbon abatement projects that represent 1 tonne of carbon abatement. 

CORPORATE SOCIAL RESPONSIBILITY

Boards brace for 'say on climate' resolutions (The Australian Financial Review): Boards are bracing for a wave of “say on climate” resolutions this meetings season, as banks and other big companies consider joining Rio Tinto, Santos and Woodside in giving investors an advisory vote on the issue in the same way as pay. The “say on climate” votes – being pushed by British billionaire activist-investor turned climate warrior Christopher Hohn – is being backed locally by the influential Australian Council of Superannuation Investors. Proxy advisers are considering their position. 

 A five-step climate action plan for super funds (The Australian Financial Review): With more and more discussion around climate change, many superannuation funds are turning their attention towards how to become “Paris-aligned”. This means their underlying investments should become climate-resilient and consistent with the Paris Agreement’s goal of limiting global warming by achieving net zero emissions by 2050. Funds also need to be aware of APRA’s regulatory requirements. 

 Facebook to buy electricity from Singapore's largest offshore floating solar farm (RenewEconomy): Singapore’s leading clean energy provider Sunseap has signed a multi-year Virtual Power Purchase Agreement (VPPA) with internet giant Facebook for electricity from the country’s largest offshore floating solar farm. It comes less than a fortnight after Sunseap announced that it had completed construction of its 5MW offshore floating solar PV farm in the Straits of Johor, which is one of the world’s largest, consisting of 13,312 panels, 40 inverters, and more than 30,000 floats. 

Origin CEO not tempted by demerger (The Australian Financial Review): Origin Energy chief executive Frank Calabria has poured cold water on simmering speculation the major energy supplier may take a tip from rival AGL Energy and consider splitting its business. Mr Calabria instead highlighted the benefits the company gets from its diversified earnings that also encompass export LNG. 

Victorian panel urges state to scrap petrol cars in bid to drive down emissions (News.com.au): Victoria should end the sale of all new petrol and diesel cars by 2030 in a dramatic effort to drive down emissions, according to an Infrastructure Victoria panel. Dubbed the state’s “largest ever deliberative engagement program”, 211 Victorians took part in the month-long workshop series, providing advice on how the state government could encourage more people to take up low or zero-emission vehicles. 

GREEN PROJECTS AND INITIATIVES

WA's second big $100M battery planned by Alinta for Wagerup (Boiling Cold): WA's second big battery is planned for Alinta Energy's power station in Wagerup and could equal the size of Synergy's $100 million-plus investment in Kwinana. The WA Environmental Protection Authority yesterday published its approval for the "installation of a battery energy storage system (BESS), with a battery power output of 100 megawats." 

Giant $1B offshore wind farm proposed for South West (Boiling Cold): Plans for an offshore wind farm with up to 37 turbines along the coast north of Bunbury has been revealed in a submission to the WA Environmental Protection Authority today. Between 20 and 37 turbines located about 5km off the coast between Preston Beach and Myalup are planned, with fewer larger turbines preferred. 

Solar panel and battery recycling to get boost from Modern Manufacturing fund (RenewEconomy): The local manufacturer of new clean energy technologies, and an expansion of high-value recycling industries, including the recycling of batteries and solar panels, are set to share in funding support being provided under the federal government’s Modern Manufacturing Initiative. According to a new National Manufacturing Priority roadmap unveiled by the Morrison government this week, the government will offer grant funding to Australian manufacturers looking to undertake local production of clean energy technologies, or wanting to integrate clean energy into their current manufacturing processes. 

Floating wind and wave power project to use Australian wave technology (RenewEconomy): Australia and UK-based wave energy company Bombora has joined forces with global energy infrastructure and engineering group TechnipFMC to demonstrate a 6MW hybrid floating wave and offshore wind generation platform. TechnipFMC, which is listed in New York and Paris, said last week that it had formed a strategic partnership with Bombora to develop a floating wave and wind power project “in support of a more sustainable future.”