29 May 2017, Renew Economy, The myth that Adani coal is boom or bust for Queensland economy. There are a whole bunch of reasons why the Adani coal mine does not make sense: for the environment, the climate and on basic economics. The latest results from Adani Power, revealing over the weekend a $US954 million loss ($A1.3 billion) for the last financial year, its fifth loss in a row, and a growing preference for domestic over imported coal, not to mention the endless delays and requests for government support, underline the fact that the project makes no financial sense. And we know that on environmental and climate grounds, it makes no sense either. Rescuers minister Matt Canavan counts Adani’s benefits on the basis that the mine will last 60 years. That timeframe assumes that the world will not act on climate change. Another myth that refuses to go away, and seems to be prosecuted by everyone from the Coalition, to the state Labor government and to the local councils, is that the Queensland economy depends on Adani and its Carmichael mine for jobs and investment, and that the region’s economy would be devastated if the mine didn’t go ahead. It is simply not true. For a start, the inflated figures being pedalled by those state and federal politicians – the claim of 10,000 jobs – have been debunked by Adani itself, and its more modest investment plans now suggest maybe one-tenth of that, at best. And perhaps those politicians should have a look around and see what else is happening in the region. It is really quite stunning: some 4,200MW of large-scale wind and solar projects, all of them in central to northern Queensland, and billions of dollars worth of other projects in the pipeline, including biofuels and even a battery gigafactory in Townsville. Read More here
Category Archives: Australian Response
28 May 2017, The Guardian, Australia will still support Paris climate deal if Trump pulls out, Frydenberg says. The Turnbull government will support the Paris agreement on climate change regardless of whether or not the US president, Donald Trump, pulls out, the environment minister, Josh Frydenberg, has signalled. Trump upset world leaders on the weekend by refusing, at the conclusion of the G7 summit in Italy, to declare his support for the UN’s landmark treaty signed in Paris in 2015. Despite two days of urging from leaders from Europe, Canada and Japan to pledge his support for the agreement, Trump tweeted on Saturday: “I will make my final decision on the Paris accord next week!” His position left his counterparts frustrated, with some warning if the US pulled out of the Paris agreement other countries may want to reduce their commitments too. But when asked about Australia’s commitment in the wake of Trump’s tweet, Frydenberg told Guardian Australia the Turnbull government takes its emissions targets seriously “and we’re going on and trying to meet them”. “Issues about domestic climate change policy in the United States is a matter for the Trump administration,” Frydenberg said. He also pointed to a quote from Malcolm Turnbull from November last year, when Turnbull was asked if Australia would remain in the Paris agreement if then president-elect Trump followed through on his threat to cancel the emissions reductions commitments made by Barack Obama in December 2015. Turnbull had said: “When Australia makes a commitment to a global agreement, we follow through and that is exactly what we are doing.” Turnbull also described the Paris agreement as “a watershed and a turning point” that would deliver international action on climate change. “My government is committed to [the Paris agreement]. We have ratified it,” he had said. Read More here
22 May 2017, One Step Off the Grid, Queensland govt kicks off solar trial for low-income, rental households. A Queensland government-funded scheme to use rooftop solar to cut the electricity costs of low income regional households – as well its half a million rental households – has begun being rolled out in the state’s south-east, with plans to extend the trial throughout the state. The public housing solar scheme, announced in March, kicked off in the suburbs of Logan late last week, in the first phase of installations of up to 6MW of solar PV on up to 4000 rooftops across Queensland. State energy minister Mark Bailey said the aim of the trial was to investigate innovative ways to enable public housing tenants in detached government-owned houses to access the benefits of rooftop solar. In Woodridge, alone, nearly 2000 eligible public housing tenants managed through Logan City’s Woodridge Housing Service Centre would be eligible for the scheme. Meanwhile, the Palaszczuk government is calling for expressions of interest from solar PV suppliers to support the trial in Rockhampton and Cairns. Queensland is not the only state or local government to trial and fund schemes like this. The City of Adelaide launched its “Solar Savers” initiative in April 2016, in an effort to remove the usual upfront costs of installing rooftop solar on rented and low-income households, and provide tenants with a long-term payment plan. The ACT launched a $2 million low-income solar scheme in July 2016, open to eligible households, wishing to install rooftop PV but unable to afford the upfront investment. And in NSW, a number of NGO-led and CEFC-backed schemes have sought to build new, highly energy efficient public housing with rooftop solar included. Read More here
11 May 2017, Renew Economy, Budget papers reveal jobs to grow at CEFC, but CCA left without funds. While the Turnbull government’s second budget distinguished itself for its complete lack of provisions for – or even references to – climate change, RenewEconomy did notice that the papers flagged an increase in staff numbers at the Clean Energy Finance Corporation, from 80 people to 101. According to the CEFC, the staff increase noted in the budget reflects the green bank’s expectation that it will need more hands on deck to manage its “expanding and diversified” investment portfolio. And that’s because it is doing very well. “The budget papers show that we are forecast to exceed the target $800 million to $1 billion of new contracted investments during 2016/17, which is a considerable step up in the level of investment over prior periods,” a CEFC spokesperson told RE in an email. “As the CEFC’s investment portfolio progressively grows (currently $1.5 billion invested and $3 billion committed of the $10 billion appropriated to CEFC), the Board of the CEFC must ensure it has the requisite resources in place to properly manage those investments and associated business risks, on behalf of the Australian taxpayer, in an efficient and effective manner,” the email said. The extra funds contrasts with the fate of the Climate Change Authority, which has been effectively defenestrated by the Coalition government. Once again, its funding does not extend beyond the coming financial year, as the Coalition repeats its desire to close the authority. The CCA, established by Labor and the Greens to provide independent advice on climate targets and policies, has been embroiled in controversy in recent months, leading to resignations from key board members such as Clive Hamilton and John Quiggin, over what they described as compromised reports. But even these have been ignored by the Coalition. The CEFC has also been on the coalition’s hit list, but is now tolerate given it has chalked up an impressive track record since its inception in 2013. The LNP has shifted from describing the CEFC as a “giant green hedge fund” or “honeypot to every white-shoe salesman imaginable,” to claiming it as a major national success; one that marked its third year of operation with a record $837 million committed to new clean energy investments, contributing to projects with a total value of $2.5 billion, and achieving a 73 per cent year-on-year increase in the value of new investment commitments. Read more here