GREENHOUSE GAS MITIGATION – AUSTRALIA

Solar, wind cheapest long-term mix: CSIRO

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Original article by Angela Macdonald-Smith, Ryan Cropp
The Australian Financial Review – Page: 7 : 17-Dec-25

The CSIRO’s latest draft GenCost report has concluded that onshore wind farms and solar power would allow Australia to meet its 2030 renewable energy target and result in lower wholesale electricity prices than at present. The national science agency also states that these renewables are also the most cost-efficient way for the nation to meet its 2050 targets. Meanwhile, CSIRO estimates that adding offshore wind power to the energy mix would result in slightly higher electricity costs, while building nuclear power plants would add signicantly to the cost.

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CSIRO

Shaky Liberals fears party split

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Original article by Phillip Coorey, Ryan Cropp
The Australian Financial Review – Page: 1 & 4 : 19-Nov-25

There is growing concern within the Liberal Party of Australia that its stance on net-zero emissions could potentially cause the party to split. Multiple sources have indicated that some members of the Liberals’ moderate faction have held discussions about splitting from the party. However, Liberal senator and moderate Andrew Bragg contends that the recent decision to abandon the commitment to net-zero is not a reason to walk away from the party, and he argues that the fragmentation of the centre-right of Australian politics would result in less coherent policy.

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LIBERAL PARTY OF AUSTRALIA

Apocalyptic climate risk on horizon

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Original article by Ryan Cropp
The Australian Financial Review – Page: 1 & 4 : 16-Sep-25

Prime Minister Anthony Albanese says the Australian Climate Service’s National Climate Risk Assessment report is a "wake-up call" for people who still question the need for action to address climate change. Amongst other things, the report has warned that climate change could potentially result in heat-related deaths rising by more than 400 per cent, while property values could fall by more than $600 billion by 2050; it also concludes that more frequent heatwaves could result in employers losing 2.7 million additional days of work by 2061. The Australian Chamber of Commerce & Industry’s CEO Andrew McKellar says governments must strike an appropriate balance between science and economics.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN CLIMATE SERVICE, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Back to future on carbon with Rio

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Original article by Greg Brown, Noah Yim
The Australian – Page: 1 & 4 : 16-Jul-25

Rio Tinto has used its submission to the Productivity Commission’s so-called ‘five pillars’ review to call for Australia to introduce a market-based price on carbon. The resources group contends that this is the most effective way to encourage the private sector to make low-carbon investments and reduce greenhouse gas emissions. However, Rio Tinto has also argued that further government subsidies will be needed, as a carbon price alone will not be enough to reduce heavy industries’ emissions while allowing them to remain globally competitive.

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RIO TINTO LIMITED – ASX RIO, AUSTRALIA. PRODUCTIVITY COMMISSION

Climate change spend surges to $9bn a year

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Original article by Matthew Cranston
The Australian – Page: 1 & 5 : 4-Jun-25

Analysis by the Institute for Public Affairs shows that the federal government’s spending on climate change and net zero policies has increased by 400 per cent since it took office in May 2022. Labor allocated more than $9bn to such initiatives in its pre-election budget in March, compared with just $1.7bn in the former Coalition government’s last budget in March 2022. This compares with the $600m that was spent on climate change and net zero programs a decade ago. The IPA’s chief economist Adam Creighton says that despite the big increase in spending on net zero, the government’s own figures show that Australia’s carbon emissions have fallen by just 2.8 per cent compared with 2005 levels.

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INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIAN LABOR PARTY

Fortescue racks up $350m drill bill in net zero emissions push

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 16-Apr-25

Pure-play iron ore miner Fortescue expects the deployment of electric drill rigs at its Pilbara mines to reduce diesel fuel usage by about 35 million litres per year and carbon dioxide emissions by more than 90,000 tonnes. Fortescue will pay about $350m for 50 electric drill rigs that are manufactured by Sweden-based Epiroc. Fortescue has also commenced construction of a 190-megawatt solar farm at its Cloudbreak mine, as part of its strategy to achieve a net-zero emissions target of 2030. The Cloudbank solar farm will boast almost double the capacity of Fortescue’s only existing solar farm.

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FORTESCUE LIMITED – ASX FMG

100 per cent sure Bowen knows best

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Original article by Glen Norris, Greg Brown
The Australian – Page: 1 & 4 : 5-Feb-25

Energy Minister Chris Bowen and Resources Minister Madeleine King have defended the federal government’s ambitious renewable energy target, amid growing opposition within the business community. Bowen and King have stated that the government takes its advice on energy policy from experts. Infrastructure NSW chairman Graham Bradley is amongst the business leaders who contend that the target of generating 82 per cent of Australia’s electicity via renewables by 2030 is unrealistic and must be revised.

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AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, INFRASTRUCTURE NEW SOUTH WALES

Renewables target: 82 per cent of no chance

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Original article by Greg Brown
The Australian – Page: 1 & 6 : 4-Feb-25

Australian Chamber of Commerce & Industry CEO Andrew McKellar doubts that the federal government’s 2030 renewable energy target is realistic. He says Labor will need to reconsider its goal of having 82 per cent of the nation’s electricity generated via renewables by the end of the decade. McKellar contends that while renewables will be the ‘backbone’ of the energy grid in the medium to longer term, there will need to be a strong focus on gas exploration, production and supply in the near-term. Council of Small Business Organisations Australia CEO Luke Achterstraat agrees that the renewables target should be reviewed.

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AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Coalition will stay in Paris climate pact

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 24-Jan-25

Opposition Leader Peter Dutton said on Thursday that he will not withdraw Australia from the Paris climate accord if he wins the upcoming election, despite pressure from the Conservative wing of the Coalition for such a move in the wake of Donald Trump taking the US out of it. The Coalition will set an emissions reduction target for 2035 if it does win the election, although its target is unlikely to be as ambitious as Labor, which is also yet to announce its 2035 target, given that 2035 would be before the proposed operation of the Coalition’s first nuclear reactor.

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AUSTRALIAN LABOR PARTY

Fortescue eyes $50m carbon free kick

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 8-Oct-24

The federal government has indicated that companies will be able to start trading its Safety Mechanism Credits from early 2025. The new carbon credit scheme will reward companies with one SMC for every extra tonne of carbon they cease emitting beyond their designated target. Given that Fortescue has a goal of achieving ‘real zero’ emissions across its iron ore mines by the end of this decade, it could be in line to earn about 1.4 million SMCs in 2030. Analysts suggest that Fortescue could gain additional revenue of between $50m and $150m by selling these credits to other emitters. However, chairman Andrew Forrest has been a vocal critic of carbon offsets in the past.

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FORTESCUE LIMITED – ASX FMG