What you will find on this page: LATEST NEWS; Fossil fuel emissions have stalled; Analysis: Record surge of clean energy in 2024 halts China’s CO2 rise; does the world need hydrogen?; Mapped: global coal trade; Complexity of energy systems (maps); Mapped: Germany’s energy sources (interactive access); Power to the people (video); Unburnable Carbon (report); Stern Commission Review; Garnaut reports; live generation data; fossil fuel subsidies; divestment; how to run a divestment campaign guide; local council divestment guide; US coal plant retirement; oil conventional & unconventional; CSG battle in Australia (videos); CSG battle in Victoria; leasing maps for Victoria; coal projects Victoria
Huge task to decarbonise
Source: Australian Delegation presentation to international forum held in Bonn in May 2012
Latest News 21 August 015, Climate News Network, China’s carbon count is not as high as feared. The use of poor-quality coal in Chinese power plants means that the carbon dioxide emissions of the world’s biggest polluter are 10% less than previously thought. Calculations on how much carbon dioxide China produces have been wrong for more than 10 years because the official bodies that calculate it have assumed the country’s power stations burn high-quality coal. In fact, the world’s biggest polluter uses coal with a lower carbon content than power stations in Europe and the US, and so produces less carbon dioxide per tonne − around 14% less according to experts from 18 research institutions. Getting the total quantities of CO2 emitted by each country correct is crucial if the world is going to reach agreement on tackling dangerous climate change at the UN conference in Parisin December. One of the stumbling blocks to agreements in the past has been politicians’ need to have a fair system of sharing the burden of cuts.Calculating how much pollution each country produces has been largely based on the quantities of fossil fuels burned in electricity and heat production and in motor vehicles. This has not taken into account the fact that the amount of carbon in coal and oil varies according to its quality, and so an average figure has been used, which turns out to be unfair in the case of China. Read More here 20 August 2015, The Guardian, BP lobbied against EU support for clean energy to favour gas, documents reveal. BP was part of oil and gas lobby that successfully undermined EU renewable energy targets and subsidies in favour of gas as a climate fix in 2011. The fossil fuel giant BP helped spur a concerted industry push to curb EU policy support for renewable energies such as wind and solar in favour of gas, the Guardian has learned. The European commission last year outlawed most subsidies for clean energy from 2017, and ended nationally-binding renewable targets after 2020, despite opposition from environmentalists and clean energy firms. The policy decisions were however requested by BP, Shell, Statoil and Total, and by trade associations representing a plethora of oil and gas majors. “It is clear that the fossil fuel companies worked strongly together to get rid of the binding renewable targets and ensure there would be no binding efficiency targets either,” Wendel Trio, the director of Climate Action Network Europe told the Guardian. In October 2011, the Dutch oil and gas firm Shell first proposed that a sole greenhouse gas target take the place of policies that also supported renewables. Shell argued this would allow gas to cut coal-fired emissions, using the EU’s Emissions Trading System (ETS) as a policy lever. Papers obtained by the Guardian in an access to documents request show that just four weeks later, BP also asked Barroso to discuss a similar idea with Jean-François Cirelli, the president of its Eurogas trade association. Read more here 20 August 2015, SMH, Adani mine a $20b project creating 10,000 jobs? The Abbott government’s myths busted. When it comes to Australia’s largest coal mine, the Abbott government has a difficult relationship with the truth. If you haven’t heard, Australia is under siege from a new kind of eco-warrior, one with a manual and money for legal challenges designed to endlessly frustrate economic development. At the centre of this battle is the proposed Carmichael coal mine in Queensland. The mega mine, led by Indian billionaire Gautam Adani, has had its federal environmental approval set aside. Why? Because a Queensland environment group – the Mackay Conservation Group – exercised its legal rights and used a federal court challenge to expose a flaw in the government’s assessment of that project. The government now wants to remove those legal rights and hinder the ability of green groups to access the courts. The Parliament is clearly entitled to debate whether Australia’s environment laws are working as they were intended. But it should not be too much to expect that the government defend its position with arguments that have some semblance to the truth. To make its case to protect growth and jobs and stop “vigilante litigation”, ministers have repeatedly relied on inflated numbers, distortions and blatant inaccuracies about the Adani project to make their case. Here are some: Read More here 19 August 2015, Renew Economy, The six big lies in Tony Abbott’s attack on the environment. The Abbott government has revealed plans to repeal a section of Australia’s environment laws that allows green groups to challenge approvals for mining projects and other large developments in the courts. Federal Attorney-General George Brandis said the government would seek to repeal section 487 (2) of the Environment Protection and Biodiversity Conservation Act and “return to the common law”, after it was used successfully by the Mackay Conservation Group to overturn the federal environment minister’s approval of the Carmichael mega-coal mine in Queensland’s Galilee Basin. The following is a run-down of the six big lies at the centre of the Coalition’s latest attack on the environment…Read More here 18 October 2016, Renew Economy, Abbott all over again? Coalition ramps up attack on renewables. The Coalition attacks against renewable energy in the last few weeks have reached their highest peak since the early days of the Abbott government, when the former prime minister hired a climate denying corporate leader to “review” the renewable energy target and try to have it scrapped. It managed “only” to reduce the target by around a third, but the uncertainty it created still succeeded in bringing the industry to a halt: so much so that since Abbott’s election in September 2013, only one large-scale project has escaped the snare – the 175MW White Rock wind farm that is being built by the deep-pocketed Chinese turbine manufacturer Goldwind. All other projects that have been, or are being built, with finance or grants from institutions that the Coalition has spent much of the past three years trying to dismantle, such as the Australian Renewable Energy Agency, or thanks to state-and territory-based targets (such as the ACT’s) that the federal government is now trying to destroy. The new campaign against state-based renewable energy targets – and the deployment of its most potent weapon, policy uncertainty – has reached a new intensity since the blackout in South Australia and the release of an independent report into Queensland’s 50 per cent renewable energy target for 2030. The Murdoch media have dutifully switched into relentless attack mode. The Courier-Mail ran three opinion pieces demonising the renewable target over the weekend, and The Advertiser in Adelaide and other Murdoch media have been full of anti-renewable commentary. The Australian mothership has followed suit, quoting the usual assortment of vested interests and Coalition politicians about what a disaster high levels of renewables would be. Read More here 7 October 2016, Renew Economy, AGL says blackout not fault of wind farms, but Barnaby and media know best. AGL Energy, the bigger coal generator in Australia and the biggest player in the South Australia market, says wind farms are not to blame for the blackout in South Australia, in contradiction to the claims of the federal government and many in mainstream media. In a statement issued late Thursday, AGL said it was clear that wind farms were not the cause of the blackout, nor was the loss of output in the chaotic seconds leading to the blackout of sufficient scale to cause the system to black out. The blackout on September 28 sparked a frenzy of accusations from the Coalition, right wing parties and mainstream media that the state’s high reliance on renewable energy was at fault. This was despite early and clear signals from the market operator and the grid owner that the source of energy was not an issue. AGL CEO Andrew Vesey earlier this week made it clear that it “didn’t matter what was hanging off the wires” when they blew over, the system would still have gone down after such an event had brought down so many transmission lines. Read More here 7 October 2016, Renew Economy, Finkel to lead NEM review, but states hold to renewable targets. Federal and state governments have agreed to an independent inquiry into the rules governing Australia’s energy markets, but the states have resisted attempts by the Coalition to force them to back away from their individual renewable energy targets. The hastily called meeting, held in Melbourne after the Coalition decided to use the South Australia blackout to attack state-based renewable energy initiatives, broke up with no agreement about individual renewable energy targets. But they did agree to an independent review that the federal government says will provide a “blueprint” for Australia’s power security to be led by chief scientist Dr Alan Finkel. There will be two other members, although they have not been named. States expressed hope that the Finkel report would move towards a more integrated response and market framework. Finkel, a keen supporter of nuclear, has also expressed his interest in solar and storage. “My vision is for a country, society, a world where we don’t use any coal, oil, natural gas; because we have zero emissions electricity in huge abundance and we use that for transport, for heating and all the things we ordinarily use electricity for,” he said during a media event relating to his appointment. “With enough storage, we could do it in this country with solar and wind,” Finkel said at the time. The appointment of Finkel was pushed by South Australia. It was supported by other states, but they insisted for other members on the panel who had experience of energy transitions. Read More here 5 October 2016, The Conversation, Lessons from South Australia’s blackout: we need to make infrastructure more resilient to climate change. Last week’s storm and subsequent state-wide blackout in South Australia reminds us how important the electricity grid – and other infrastructure – is for our communities. Immediate analysis suggests the blackout was caused by the collapse of transmission infrastructure in South Australia. Australian electricity networks, like most transmission networks worldwide, rely on above-ground conducting wires held aloft by large towers. Some of these towers were blown over in the South Australian event. While the storm hasn’t yet been specifically linked to climate change, it also serves as a reminder of the increasing challenges of delivering essential services in a more variable climate and slowing economy. Power, water, transport, health, defence and communications infrastructure can be exposed to climate variability and change simply because of their long lifetimes. Therefore, many if not most owners and operators of essential infrastructure have commissioned climate vulnerability and adaptation studies. There are many good examples of adaptation. For instance, Queensland Urban Utilities, the major water distributor and retailer in south-east Queensland, is implementing a large program to make the water and wastewater delivery network more resilient to flooding. But there is increasing recognition among climate adaptation researchers that many of the recommendations from climate adaptation studies aren’t being adopted. This is sometimes referred to as the “plan and forget” approach to climate adaptation and it leaves critical infrastructure vulnerable to weather extremes. Read More here 18 March 2021, Renew Economy: Stats of Convenience: Morrison selling his climate spin to rest of the world. Prime minister Scott Morrison appears set to use his marketing background to good use, as he works to convince the rest of the world that Australia is a global leader on climate action, despite opposing a faster clean energy transition at home. In an early test of his newly claimed ‘acceptance’ of the need for a global shift to zero net emissions, during a call with US special envoy for climate John Kerry, Morrison deployed his old rhetoric – a reliance on dodgy stats to maintain the façade that Australia is pulling its weight on climate change. While Morrison described the call with Kerry as “constructive”, it is clear the prime minister largely pushed the same lines he uses when speaking about climate change to domestic audiences in an attempt to convince the presidential special envoy for climate change that Australia was doing as much as its international peers to reduce emissions. Read more here 2 March 2021, Renew Economy: ustralia shifts emissions baseline again, as Covid-carbon rebound begins. Despite 2020 being a record year for renewable energy output in Australia, total emissions have begun a steady increase again as the impacts of a fossil-heavy COVID19 recovery begins to hit the emissions data. A new release from the government’s Department of Industry, Science, Energy and Resources (DISER) shows that emissions have begun their inevitable climb as the country’s economy begins to recover from the impacts of the Covid19 lockdowns of 2020. What the data clearly show is that Covid19 changed the emissions ‘tug of war’, as falling transport emissions and reduced global demand for Australia’s fossil exports tilted it towards a reduction. Covid19 recovery means back to business as usual, with flat-lining quarterly emissions. Of course, a flat line isn’t neutral: greenhouse gas emissions continue to accumulate. An overflowing bathtub isn’t in a steady state if the tap isn’t opening further – the flow needs to stop. Read more here 1 March 2021, Renew Economy: “Not even close:” UN slams Australia and other rich countries for weak climate efforts. United Nations secretary-general António Guterres has called on wealthy countries, including Australia, to commit to larger cuts to greenhouse gas emissions after a new report published by the UNFCCC found targets being set by national governments are nowhere near enough to limit global warming to safe levels. The interim NDC Synthesis Report published by the UNFCCC on Friday detailed the results of an assessment of the emissions reduction commitments officially announced by national governments, including those of Australia, finding that they “fall far short” of the reductions needed to limit global warming to levels agreed to under the Paris Agreement. The synthesis report reviewed the official emissions reduction targets that have been announced by 75 countries under the Paris Agreement, comparing them to the emissions reductions needed to keep global warming to the 1.5 or 2 degrees of temperature increases that were set as goals under the treaty. Read more here 27 January 2021, The Conversation: We are the 1%: the wealth of many Australians puts them in an elite club wrecking the planet. Among the many hard truths exposed by COVID-19 is the huge disparity between the world’s rich and poor. As economies went into freefall, the world’s billionaires increased their already huge fortunes by 27.5%. And as many ordinary people lost their jobs and fell into poverty, The Guardian reported “the 1% are coping” by taking private jets to their luxury retreats. Such perverse affluence further fuelled criticism of the so-called 1%, which has long been the standard rhetoric of the political Left. In 2011, Occupy Wall Street protesters called out growing economic inequality by proclaiming: “We are the 99%!”. And an Oxfam report in September last year lamented how the richest 1% of the world’s population are responsible for more than twice as much carbon pollution as the poorest half of humanity. But you might be surprised to find this 1% doesn’t just comprise the super-rich. It may include you, or people you know. And this fact has big implications for social justice and planetary survival. Read more here 27 January 2025, Carbon Brief: A record surge of clean energy kept China’s carbon dioxide (CO2) emissions below the previous year’s levels in the last 10 months of 2024. However, the new analysis for Carbon Brief, based on official figures and commercial data, shows the tail end of China’s rebound from zero-Covid in January and February, combined with abnormally high growth in energy demand, stopped CO2 emissions falling in 2024 overall. While China’s CO2 output in 2024 grew by an estimated 0.8% year-on-year, emissions were lower than in the 12 months to February 2024. Other key findings of the analysis include: As ever, the latest analysis shows that policy decisions made in 2025 will strongly affect China’s emissions trajectory in the coming years. In particular, both China’s new commitments under the Paris Agreement and the country’s next five-year plan are being prepared in 2025. Read More Here 3 November 2020, Carbon Brief: Hydrogen gas has long been recognised as an alternative to fossil fuels and a potentially valuable tool for tackling climate change. Now, as nations come forward with net-zero strategies to align with their international climate targets, hydrogen has once again risen up the agenda from Australia and the UK through to Germany and Japan. In the most optimistic outlooks, hydrogen could soon power trucks, planes and ships. It could heat homes, balance electricity grids and help heavy industry to make everything from steel to cement. But doing all these things with hydrogen would require staggering quantities of the fuel, which is only as clean as the methods used to produce it. Moreover, for every potentially transformative application of hydrogen, there are unique challenges that must be overcome. In this in-depth Q&A – which includes a range of infographics, maps and interactive charts, as well as the views of dozens of experts – Carbon Brief examines the big questions around the “hydrogen economy” and looks at the extent to which it could help the world avoid dangerous climate change. Access full article here Fossil fuel emissions have stalled 14 November 2016, The Conversation, Fossil fuel emissions have stalled: Global Carbon Budget 2016. For the third year in a row, global carbon dioxide emissions from fossil fuels and industry have barely grown, while the global economy has continued to grow strongly. This level of decoupling of carbon emissions from global economic growth is unprecedented.Global CO₂ emissions from the combustion of fossil fuels and industry (including cement production) were 36.3 billion tonnes in 2015, the same as in 2014, and are projected to rise by only 0.2% in 2016 to reach 36.4 billion tonnes. This is a remarkable departure from emissions growth rates of 2.3% for the previous decade, and more than 3% during the 2000’s. Read More here Do you want to understand the complexity of energy systems which support our high consumption lifestyles? Most people don’t give too much thought to where their electricity comes from. Flip a switch, and the lights go on. That’s all. The origins of that energy, or how it actually got into our homes, is generally hidden from view. This link will take you to 11 maps which explain energy in America (it is typical enough as an example of a similar lifestyle as Australia – when I find maps for Oz I’ll add them in) e.g. above map showing the coal plants in the US. Source: Vox Explainers Mapped: how Germany generates its electricity – another example Power to the People – Lock the Gate looks back at the wins of 2015 And there’s lots more coming up in 2016. Some of the big priorities coming up next for the “Lock the Gate” movement are: If you want to give “Lock the Gate” your support – go here for more info This new report reveals that the pollution from Australia’s coal resources, particularly the enormous Galilee coal basin, could take us two-thirds of the way to a two degree rise in global temperature. To Read More and download report The 2006 UK government commissioned Stern Commission Review on the Economics of Climate Change is still the best complete appraisal of global climate change economics. The review broke new ground on climate change assessment in a number of ways. It made headlines by concluding that avoiding global climate change catastrophe was almost beyond our grasp. It also found that the costs of ignoring global climate change could be as great as the Great Depression and the two World Wars combined. The review was (still is) in fact a very good assessment of global climate change, which inferred in 2006 that the situation was a global emergency. Read More here The Garnaut Climate Change Review was commissioned by the Commonwealth, state and territory governments in 2007 to conduct an independent study of the impacts of climate change on the Australian economy. Prof. Garnaut presented The Garnaut Climate Change Review: Final Report to the Australian Prime Minister, Premiers and Chief Ministers in September 2008 in which he examined how Australia was likely to be affected by climate change, and suggested policy responses. In November 2010, he was commissioned by the Australian Government to provide an update to the 2008 Review. In particular, he was asked to examine whether significant changes had occurred that would affect the analysis and recommendations from 2008. The final report was presented May 2011. Since then the Professor has regularly participated in the debate of fossil fuel reduction, as per his latest below: To access his reports; interviews; submissions go here 27 May 2015, Renew Economy, Garnaut: Cost of stranded assets already bigger than cost of climate action. This is one carbon budget that Australia has already blown. Economist and climate change advisor Professor Ross Garnaut has delivered a withering critique of Australia’s economic policies and investment patterns, saying the cost of misguided over-investment in the recent mining boom would likely outweigh the cost of climate action over the next few decades. Read More here Live generation of electricity by fuel type Fossil Fuel Subsidies – The Age of entitlement continues 24 June 2014, Renew Economy, Age of entitlement has not ended for fossil fuels: A new report from The Australia Institute exposes the massive scale of state government assistance, totalling $17.6 billion over a six-year period, not including significant Federal government support and subsidies. Queensland taxpayers are providing the greatest assistance by far with a total of $9.5 billion, followed by Western Australia at $6.2 billion. The table shows almost $18 billion dollars has been spent over the past 6 years by state governments, supporting some of Australia’s biggest, most profitable industries, which are sending most of the profits offshore. That’s $18 billion dollars that could have gone to vital public services such as hospitals, schools and emergency services. State governments are usually associated with the provision of essential services like health and education so it will shock taxpayers to learn of the massive scale of government handouts to the minerals and fossil fuel industries. This report shows that Australian taxpayers have been misled about the costs and benefits of this industry, which we can now see are grossly disproportionate. Each state provides millions of dollars’ worth of assistance to the mining industry every year, with the big mining states of Queensland and Western Australia routinely spending over one billion dollars in assistance annually. Read More here – access full report here What is fossil fuel divestment? Local Governments ready to divest Aligning Council Money With Council Values A Guide To Ensuring Council Money Isn’t Funding Climate Change. 350.org Australia – with the help of the incredible team at Earth Hour – has pulled together a simple 3-step guide for local governments interested in divestment. The movement to align council money with council values is constantly growing in Australia. It complements the existing work that councils are doing to shape a safe climate future. It can also help to reshape the funding practices of Australia’s fossil fuel funding banks. The steps are simple. The impact is huge.The guide can also be used by local groups who are interested in supporting their local government to divest as a step-by-step reference point. Access guide here How coal is staying in the ground in the US Sierra Club Beyond Coal Campaign May 2015, Politico, Michael Grunwald: The war on coal is not just political rhetoric, or a paranoid fantasy concocted by rapacious polluters. It’s real and it’s relentless. Over the past five years, it has killed a coal-fired power plant every 10 days. It has quietly transformed the U.S. electric grid and the global climate debate. The industry and its supporters use “war on coal” as shorthand for a ferocious assault by a hostile White House, but the real war on coal is not primarily an Obama war, or even a Washington war. It’s a guerrilla war. The front lines are not at the Environmental Protection Agency or the Supreme Court. If you want to see how the fossil fuel that once powered most of the country is being battered by enemy forces, you have to watch state and local hearings where utility commissions and other obscure governing bodies debate individual coal plants. You probably won’t find much drama. You’ll definitely find lawyers from the Sierra Club’s Beyond Coal campaign, the boots on the ground in the war on coal. Read More here Oil – conventional & unconventional May 2015, Oil change International Report: On the Edge: 1.6 Million Barrels per Day of Proposed Tar Sands Oil on Life Support. The Canadian tar sands is among the most carbon-intensive, highest-cost sources of oil in the world. Even prior to the precipitous drop in global oil prices late last year, three major projects were cancelled in the sector with companies unable to chart a profitable path forward. Since the collapse in global oil prices, the sector has been under pressure to make further cuts, leading to substantial budget cuts, job losses, and a much more bearish outlook on expansion projections in the coming years. Read full report here. For summary of report USA Sierra Club Beyond Oil Campaign Coal Seam Gas battle in Australia Lock the Gate Alliance is a national coalition of people from across Australia, including farmers, traditional custodians, conservationists and urban residents, who are uniting to protect our common heritage – our land, water and communities – from unsafe or inappropriate mining for coal seam gas and other fossil fuels. Read more about the missions and principles of Lock the Gate. Access more Lock the Gate videos here. Access Lock the Gate fact sheets here 2014: Parliament of Victoria Research Paper: Unconventional Gas: Coal Seam Gas, Shale Gas and Tight Gas: This Research Paper provides an introduction and overview of issues relevant to the development of unconventional gas – coal seam, shale and tight gas – in the Australian and specifically Victorian context. At present, the Victorian unconventional gas industry is at a very early stage. It is not yet known whether there is any coal seam gas or shale gas in Victoria and, if there is, whether it would be economically viable to extract it. A moratorium on fracking has been in place in Victoria since August 2012 while more information is gathered on potential environmental risks posed by the industry. The parts of Victoria with the highest potential for unconventional gas are the Gippsland and Otway basins. Notably, tight gas has been located near Seaspray in Gippsland but is not yet being produced. There is a high level of community concern in regard to the potential impact an unconventional gas industry could have on agriculture in the Gippsland and Otway regions. Industry proponents, however, assert that conventional gas resources are declining and Victoria’s unconventional gas resources need to be ascertained and developed. Read More here 28 January 2015, ABC News, Coal seam gas exploration: Victoria’s fracking ban to remain as Parliament probes regulations: A ban on coal seam gas (CSG) exploration will stay in place in Victoria until a parliamentary inquiry hands down its findings, the State Government has promised. There is a moratorium on the controversial mining technique, known as fracking, until the middle of 2015. The Napthine government conducted a review into CSG, headed by former Howard government minister Peter Reith, which recommended regulations around fracking be relaxed. Labor was critical of the review, claiming it failed to consult with farmers, environmental scientists and local communities. Read more here Keep up to date and how you can be involved here Friends of the Earth Melbourne Coal & Gas Free Victoria 20 May 2015, FoE, Inquiry into Unconventional Gas: Check here for details on the Victorian government’s Inquiry into unconventional gas. The public hearings have not yet started, however the Terms of Reference have been released. The state government’s promised Inquiry into Unconventional Gas has now been formally announced, with broad terms of reference (TOR). FoE’s response to the TOR is available here. The Upper House Environment and Planning Committee will manage the Inquiry. You can find the Inquiry website here. The final TOR will be determined by the committee. Significantly, it is a cross party committee. The Chair is a Liberal (David Davis), and there is one National (Melinda Bath), one Green (Samantha Dunn), three from the ALP (Gayle Tierney, Harriet Shing, Shaun Leane), an additional MP from the Liberals (Richard Dalla-Riva), and one MP from the Shooters Party (Daniel Young). Work started by the previous government, into water tables and the community consultation process run by the Primary Agency, will be released as part of the inquiry.The moratorium on unconventional gas exploration will stay in place until the inquiry delivers its findings. The interim report is due in September and the final report by December. There is the possibility that the committee will amend this timeline if they are overwhelmed with submissions or information. Parliament will then need to consider the recommendations of the committee and make a final decision about how to proceed. This is likely to happen when parliament resumes after the summer break, in early 2016. Quit Coal is a Melbourne-based collective that campaigns against the expansion of the coal and unconventional gas industries in Victoria. Quit Coal uses a range of tactics to tackle this problem. We advise the broader Victorian community about plans for new coal and unconventional gas projects, we put pressure on our government to stop investing in these projects, and we help to inform and mobilise Victorian communities so they can campaign on their own behalf. We focus on being strategic, creative, and as much as possible, fun! The above screen shot is of the Victorian State government’s Mining Licences Near Me site. Go to this link to see what is happening in your area Environment Victoria’s campaign CoalWatch is an interactive resource that tracks the coal industry’s expansion plans and helps builds a movement to stop these polluting developments. CoalWatch provides a way for everyday Victorians to keep track of the coal industry’s ambitious expansion plans. To check what tax-payer money has been pledged to brown coal projects and the coal projects industry is spruiking to our politicians. Here’s another map via EV website (go to their website and you should be able to get better detail from Google Maps: Red areas: Exploration licences (EL). These areas are held by companies to undertake exploration activity. A small bond is held by government in case of any damage. If a company wants to progress the project it needs to obtain a mining licence. Exploration Licence applications are marked with an asterix in the Places Index eg. EL4684*. Yellow areas: Mining Licences (MIN). A mining licence is granted with the expectation that mining will occur. A larger bond is paid to government. Green areas: Exploration licences that have been withdrawn or altered due to community concern. Green outline: Existing mines within Mining Licences. Purple areas: Geological Carbon Storage Exploration areas for carbon capture and storage. On-shore areas have been released by the State Government, while off-shore areas have been released by the Federal Government. The Coal Watch wiki tracks current and future Victorian coal projects, whether they are power stations, coal mines, proposals to export coal or some other inventive way of burning more coal. To get the full picture of coal in Victoria visit our wiki page. Get more info and see the full list of Exploration Licences current at 17 August 2012 here August 2015, Institute for Energy Economics & Financial Analysis – powerpoint: Changing Dynamics in the Global Seaborne Thermal Coal Markets and Stranded Asset Risk. Information from one of the slides follows. To view full presentation go here Economic Implications for Australia 83% of Australian coal mines are foreign owned, hence direct leverage of fossil fuels to the ASX is relatively small at 1-2%. However, for Australia the exposure is high, time is needed for transition and the new industry opportunities are significant: 1. Energy Infrastructure: Australia spends $5-10bn pa on electricity / grid sector, much of it a regulated asset base that all ratepayers fund much of it stranded. BNEF estimate of Australia’s renewable energy infrastructure investment for 2015-2020 was cut 30% from A$20bn post RET. Lost opportunities. 2. Direct employment: The ABS shows a fall of ~20k from the 2012 peak of 70K from coal mining across Australia, and cuts are ongoing. Indirect employment material. 3. Terms of trade: BZE estimates the collapse in the pricing of iron ore, coal and LNG cuts A$100bn pa from Australia’s export revenues by 2030, a halving relative to government budget estimates of 2013/14. Coal was 25% of NSW’s total A$ value of exports in 2013/14 (38% of Qld). Australia will be #1 globally in LNG by 2018. 4. The financial sector: is leveraged to mining and associated rail port infrastructure. WICET 80% financed by banks, mostly Australian. Adani’s Abbot Point Port is foreign owned, but A$1.2bn of Australian sourced debt. Insurance firms and infrastructure funds are leveraged to fossil fuels vs little RE infrastructure assets. BBY! 5. Rehabilitation: $18bn of unfunded coal mining rehabilitation across Australia. 6. Economic growth: curtailed as Australia fails to develop low carbon industries. Analysis: Record surge of clean energy in 2024 halts China’s CO2 rise
In-depth Q&A: Does the world need hydrogen to solve climate change?
3 May 2016, Carbon Brief, The global coal trade doubled in the decade to 2012 as a coal-fueled boom took hold in Asia. Now, the coal trade seems to have stalled, or even gone into reverse. This change of fortune has devastated the coal mining industry, with Peabody – the world’s largest private coal-mining company – the latest of 50 US firms to file for bankruptcy. It could also be a turning point for the climate, with the continued burning of coal the biggest difference between business-as-usual emissions and avoiding dangerous climate change. Carbon Brief has produced a series of maps and interactive charts to show how the global coal trade is changing. As well as providing a global overview, we focus on a few key countries: Read More here/cdn0.vox-cdn.com/uploads/chorus_asset/file/3915730/EIA%20coal%20power%20plants.png)
21 April 2015, Climate Council, Will Steffen: Unburnable Carbon: Why we need to leave fossil fuels in the ground.Stern Commission Review
Australia’s Garnaut Review
November 2014 – The Fossil Fuel Bailout: G20 subsidies for oil, gas and coal exploration report: Governments across the G20 countries are estimated to be spending $88 billion every year subsidising exploration for fossil fuels. Their exploration subsidies marry bad economics with potentially disastrous consequences for climate change. In effect, governments are propping up the development of oil, gas and coal reserves that cannot be exploited if the world is to avoid dangerous climate change. This report documents, for the first time, the scale and structure of fossil fuel exploration subsidies in the G20 countries. The evidence points to a publicly financed bailout for carbon-intensive companies, and support for uneconomic investments that could drive the planet far beyond the internationally agreed target of limiting global temperature increases to no more than 2ºC. It finds that, by providing subsidies for fossil fuel exploration, the G20 countries are creating a ‘triple-lose’ scenario. They are directing large volumes of finance into high-carbon assets that cannot be exploited without catastrophic climate effects. They are diverting investment from economic low-carbon alternatives such as solar, wind and hydro-power. And they are undermining the prospects for an ambitious climate deal in 2015. Access full report here For the summary on Australia’s susidisation of it’s fossil fuel industry go to page 51 of the report. The report said that the United States and Australia paid the highest level of national subsidies for exploration in the form of direct spending or tax breaks. Overall, G20 country spending on national subsidies was $23 billion. In Australia, this includes exploration funding for Geoscience Australia and tax deductions for mining and petroleum exploration. The report also classifies the Federal Government’s fuel rebate program for resources companies as a subsidy.
