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 17 July 2015, The Independent, Iran nuclear deal: Oil majors have already started the scramble to tap the country’s rich resources. The race to exploit Iran’s vast and under-utilised oil and gas reserves has begun after the country struck a crucial deal to curb its nuclear programme in return for relaxing foreign sanctions on its energy and finance industries. Easing the sanctions imposed by the US, the EU and the UN in 2012 paves the way for a massive leap in Iran’s oil and gas production that will require Western production expertise. The Iranian government and the oil majors have been quietly courting each other in the run-up to the agreement, with companies such as BP, Shell, Eni, Statoil and Total all thought to be seriously considering a move into the country. Read More here 13 July 2025, 350.org: New information confirms what we suspected all along — the Commonwealth Bank has been helping Indian mining giant Adani with its plans to dig up vast stores of coal from the Galilee Basin and ship that coal across our precious Great Barrier Reef. This comes after months of CommBank refusing to comment on its involvement in this ridiculous project and shutting out the concerns of the community and its own customers. As CommBank gives Adani a helping hand, 11 of the world’s largest banks have backed away from this climate and reef disaster for good. Whilst it’s undeniable that CommBank has its fingerprints on this climate bomb, it’s also undeniable that Galilee coal is simply unburnable and unbankable. According to the former QLD Treasury department, this project is financially unviable. According to the climate science, Galilee coal can never be safely burned. This makes it all the more outrageous that Australia’s oldest and largest bank would even consider touching it. Go here to Tell CommBank’s CEO Ian Narev that the case for canning this climate catastrophe has never been clearer – tell him to get his Bank out of Adani’s Galilee coal project today! 13 July 2015, The Guardian, Abbott government extends renewable energy investment ban to solar power. Clean Energy Finance Corporation banned from investing in small-scale solar projects in move industry claims is ‘revenge politics’ that will strangle the sector: A directive banning the Clean Energy Finance Corporation (CEFC) from investing in existing wind technology will also apply to small-scale solar projects, a move that will effectively throttle the industry, the Australian Solar Council said. The federal government on Sunday confirmed that the $10bn CEFC will no longer invest in wind power, instead focussing on “emerging technologies”. “It is our policy to abolish the Clean Energy Finance Corporation because we think that if the projects stack up economically, there’s no reason why they can’t be supported in the usual way,” Abbott told reporters in Darwin. “But while the CEFC exists, what we believe it should be doing is investing in new and emerging technologies – certainly not existing windfarms. “This is a government which supports renewables, but obviously we want to support renewables at the same time as reducing the upward pressure on power prices,” the prime minister said. “We want to keep power prices as low as possible, consistent with a strong renewables sector.” 7 July 2015, The Guardian, Bulga residents battling mine expansion hail NSW government planning decision. The NSW planning minister says a proposed amendment would give social and environmental issues equal standing with the economic in decision making. Residents in the New South Wales town of Bulga, which was previously earmarked for relocation due to the expansion of a nearby mine, have seized upon changes to the state’s planning laws as potentially crucial in their battle to prevent the project’s extension. NSW planning minister Rob Stokes has released a proposed amendment to the state’s mining environmental planning policy. The change removes a provision that makes the economic importance of resources “the principal consideration” when determining whether to allow mining projects. Stokes said the draft change would ensure decisions were made with environmental and social, as well as economic, factors in mind. Read More here 28 July 2016, Renew Economy, Energy minister right on renewables and climate, wrong on gas. The new energy and resources minister Josh Frydenberg has indicated a significant shift in energy policy for the Coalition. He correctly notes that renewables alone are not to blame for recent high electricity prices in South Australia. Unlike the new federal minister for resources, Matthew Canavan, Mr Frydenberg accepts mainstream climate science and the fact that humanities actions are driving global warming. He says that we need a diversified energy mix, that the national Renewable Energy Target (RET) is ‘set in stone’ – which will stabilise the investment environment for renewables, and has ruled out further tax payer subsidies for fossil fuel generation. These moves are all to be welcomed. And while Frydenberg is a long standing supporter of nuclear power, he acknowledges that our country should not move towards domestic use of uranium unless there is ‘bipartisan support’. It is difficult to imagine the majority of Australians would ever support a domestic nuclear reactor. However, Frydenberg is profoundly out of step with the community in calling for an end to the current moratoriums on unconventional gas. In Victoria, 73 regional communities have declared themselves ‘gasfield free’. While these declarations have no legal standing, they indicate deep seated opposition to fracking and drilling by communities. Most of the declared areas are in Coalition held seats and advocacy by the federal minister for state governments to lift the ban will damage the Coalition’s credibility in its core consistency. Further, with a well managed national electricity grid and diversity of renewable sources plus enhanced use of storage technologies (including existing hydro dams) gas is not needed as back up for wind and solar. The argument that gas is a bridging and back-up fuel is out dated. We now have 21st century renewable technology which can meet our electricity needs. Read More here 20 July 2016, The Guardian, Why is the World Bank backing coal power in Europe’s youngest country? In the early days of December 2015, as the Paris climate talks veered off course and off schedule, the US secretary of state John Kerry left his team of negotiators and flew to Kosovo to voice his support for a proposed US-built, World Bank-sponsored coal power station. Speaking alongside the prime minister, Isa Mustafa, Kerry told reporters at Pristina airport that the Kosovo e re (New Kosovo) plant would help the tiny, impoverished country do “its part to contribute to this global effort of nations who are committed to dealing with climate change” by replacing an extremely high-polluting cold war-era power plant. Kerry then returned to Paris and helpedland a deal intended to bring the fossil fuel era to an end. While many countries, including the US, continue to build coal plants at home, the fuel is increasingly a pariah in the world of development finance. Both the USand the World Bank have limited international finance for new coal power to exceptional circumstances – so rare that Kosovo’s is the only coal plant being considered for World Bank support anywhere on Earth. Despite this, Kosovan government officials are confident they will receive final approval from the World Bank when the project goes before its board, likely later this year. Strong advocacy is expected from the US delegation. Read More here 19 July 2016, Renew Economy, Frydenberg’s choice: Make a big step forward, or a big step back. The make-up of Australia’s new parliament cut a depressing vista on Monday. There was Pauline Hanson, demanding royal commissions into Islam and climate science, who along with other minor party and independent Senators will most likely hold the balance of power in the Senate, with as many as 7 seats but a minimum of 3. In the government, the Coalition led by Malcolm Turnbull has elevated more conservatives to the front bench. Zed Selseja, a conservative who opposes gay marriage and weekend penalty rates, is minister assisting social services.Hanson gave us a taste of what is to come in an extraordinary debate on ABC’s Q&A, which was punctuated with the sort of ignorance and ideology we often see in the energy sector – see South Australia. Matt Canavan, a conservative who dismisses climate science, is appointed resources minister responsible for the coal industry and building dams in northern Australia. Be under no doubt about Canavan: the only energy that matters to him, he has said often, is cheap energy, dirty or not. Read More here 13 July 2016, Renew Economy, Coalition’s myth about renewables and high electricity prices. Fear of rising electricity prices has been one of the mainstays of the Coalition’s re-election campaign: any efforts to increase the share of renewable energy – as proposed by Labor or even more dramatically by The Greens – or impose some sort of carbon price would end up as a Great Big Electricity Tax. Environment minister Greg Hunt is still at it: “And let me say that equally, we are the only ones that can protect against the electricity price rises that the ALP wants,” he told Melbourne radio 3AW in an interview on Tuesday. So, it should probably be seen as something of an irony that in the week after the July 3 poll, wholesale electricity prices shot to their highest levels on record – in most states averaging nearly double the average price when the carbon tax was in place. The reason, most analysts agree, lies mostly with the soaring price of gas, which has also hit record levels due to the impact of the massive LNG export facilities, and supply blockages in Queensland. But the Coalition is not blameless. Apart from being a hugely enthusiastic supporter of the gas export industry, it brought large-scale renewable energy investment to a halt for three years. As we shall see below, if the estimated 4,500MW of large-scale wind and solar that could have been built in that period had been built, then Australia would likely be enjoying much cheaper wholesale electricity prices today. And while the Coalition has railed against the expense of new renewables, the Labor minority government that runs the Australian Capital Territory has quietly been going about its target of sourcing 100 per cent of its electricity needs from renewable energy by 2020. Read More here 12 March 2020, The Conversation, 1 million rides and counting: on-demand services bring public transport to the suburbs. The technology-driven revolution in urban transport is largely centred on the inner city. It has completely missed the suburbs, which lack the public transport services and shared micromobility devices, such as e-scooters, that inner-city residents enjoy. But new technologies, skilled operators and willing governments may have produced a solution for the suburbs, known as on-demand transit. According to our data collection, there have been 36 on-demand trials across Australia since October 2017, providing over 1 million rides to residents. Half of these trips have been in the past six months. Our research at the Griffith Cities Research Institute examines the social equity impacts of these services. What is on-demand transit? On-demand transit does not follow fixed routes or timetables. Riders book a trip for a cost similar to a bus fare. Vehicles are often smaller buses, 13-seater vans, or sedans and fleets that can be adjusted based on demand for rides. Unburdened by fixed stops, which are convenient for only a few people, these services can weave their way through communities, optimising routes on the fly. Read more here 4 March 2020, Climate Home News, Australia’s carbon accounting plan for Paris goals criticised as ‘legally baseless’. Legal experts wrote to Prime Minister Scott Morrison warning the use of old carbon credits to meet the country’s 2030 goals would set a ‘dangerous precedent’. Australia’s plan to use Kyoto-era carbon credits to meet its commitments under the Paris Agreement is inconsistent with international law, legal experts have warned. In a letter to Australian Prime Minister Scott Morrison, nine international and climate law professors said Australia’s method would set “a dangerous precedent” for other countries to “exploit loopholes or reserve their right not to comply with the Paris Agreement”. “Our considered view is that the proposed use of these ‘Kyoto credits’ to meet targets under the Paris Agreement is legally baseless at international law,” the letter read. Australia is one of the only countries in the world to have explicitly said it would carry over Kyoto-era carbon credits as a means to meet its 2030 climate target. The credits were initially issued for Australia’s overachievement in meeting its 1997 Kyoto pledge to curb emissions by 2012. Under the 2015 Paris Agreement, Australia has pledged to cut emissions by at least 26% from 2005 levels by 2030. Morrison told the UN in September 2019 that “Australia will meet our Paris commitments”, and called the goals “a credible, fair, responsible and achievable contribution to global climate change action.” But a 2019 UN Environment report listed Australia among a group of 20 nations requiring “further action” to meet its Paris target, along with Brazil, Canada, Japan, South Korea, South Africa and the United States. Read more here 24 January 2020, The Conversation, Out of control, contained, safe? Here’s what each bushfire status actually means. In this record-breaking bushfire season, notifications from emergency managers have become a familiar feature of Australian life. Terms like “out of control” and “contained” are regularly heard as descriptions of the status of fires, but what do they actually mean? These terms vary slightly between Australian states and territory, but as similar firefighting strategies are used Australia-wide, the meanings are comparable. The status of a fire is a description of the stage of the firefighting effort, not the nature of the fire or its likelihood of being a threat. This means that to understand what actions to take when an active fire is nearby, it’s important to follow the advice of your local fire and emergency information sources. Read more here 31 January 2020, The Conversation, Media ‘impartiality’ on climate change is ethically misguided and downright dangerous. In September 2019, the editor of The Conversation, Misha Ketchell, declared The Conversation’s editorial team in Australia was henceforth taking what he called a “zero-tolerance” approach to climate change deniers and sceptics. Their comments would be blocked and their accounts locked. From the standpoint of conventional media ethics, it was a dramatic, even shocking, decision. It seemed to violate journalism’s principle of impartiality – that all sides of a story should be told so audiences could make up their own minds. But in the era of climate change, this conventional approach is out of date. A more analytical approach is called for. The ABC’s editorial policy on impartiality offers the best analytical approach so far developed in Australia. It states that impartiality requires: 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.
