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 30 June 2015, 350.org Australia, 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 29 June 2015, The Guardian,Australian climate policy paralysis has to end, business roundtable says: Business and industry alliance sets out climate ‘principles’, including that climate policy should be ‘capable of achieving deep reductions’ in emissions. Groups included in the ‘climate roundtable’ include the Business Council of Australia and Australian Industry Group, along with environmental groups and unions. An unprecedented alliance of business, welfare and environmental groups and trade unions is demanding an end to Australia’s decade of political paralysis and division on climate policy, insisting the Abbott government make credible emission reduction commitments and the major parties agree on how the pledges should be implemented.In an attempt to reset the bitter political debate on climate policy, the powerful lineup of interest groups has reached a historic agreement on “principles” that should guide Australia’s climate policy. Read More here. Read principles here 25 June 2015, The Conversation, Burning wood: an opportunity for renewable power and heat: Burning some wood waste from native forests will be counted as renewable energy under revisions to the Renewable Energy Target (RET) passed this week. Environmental groups and the Greens have criticised the move as possibly encouraging the logging of native forests. Burning wood waste was included in the Renewable Energy (Electricity) Act (2000). Under the Renewable Energy (Electricity) Regulations 2001, harvesting native forest just for energy generation was explicitly not eligible. Until 2011 some wood waste from native forest harvesting was eligible. The latest revisions reinstate some native wood waste under the legislation with the restrictions that existed until 2011. The RET legislates that, by 2020, 33,000 gigawatt hours of electricity must be generated by renewable energy. This includes wind, solar, hydro, tidal and various bio-energy sources. The scheme works through the creation of certificates for energy generation, and the requirement for liable entities to purchase these certificates. The latest revisions cut the RET from 41,000 GWh to 33,000 GWh and make burning wood waste from some native forest harvesting eligible for certificates under tight restrictions. However, as recognised in the relevant legislation and as shown by developments in Europe, burning wood waste from a variety of sustainable sources offers great potential as another source of renewable heat and electricity. Read More here 24 June 2015, Renew Economy, RET settled, so what next for renewable energy advocates? Now that at long last the RET debate is settled, what next for advocates of renewable energy? Since the first worrying signs that the Coalition may not support the Renewable Energy Target’s 41,000 GWh target before the 2013 federal election, the defence of the RET has, quite understandably, consumed much of the time and resources of the renewable energy sector. One of the costs of this political fight has been that much important analysis and public debate have been deferred, especially around the question of renewable energy targets for 2030 and beyond. With the near-term crisis now settled it is time to reanalyse the cost and technical feasibility of achieving very high renewable energy penetration levels. Analytical work needs to be done now because the national conversation about increasing the RET for the years 2030 and beyond will inevitably start soon. The next election is never far off. Perhaps the best way to achieve this would be to update and extend the 100% renewable energy studycompleted by the Australian Energy Market Operator (AEMO). This study was commissioned by the Gillard Government under pressure from the Greens as part of the Multi-Party Climate Change Committee (MPCCC) agreement. It was published in 2013, with most of the analysis completed in 2012. Read More here 15 April 2016, Renew Economy, Turnbull’s Jekyll and Hyde climate and clean energy policy. Environment minister Greg Hunt this week has been on a mini-tour of Western Australia, with the head of the Australian Renewable Energy Agency – which he wants to de-fund – announcing the sort of grants for solar and battery storage installations that he wants to stop. If there was any hint of irony in praising the work of ARENA and taking credit for the initiatives of an institution that the Coalition has spent much of the last three years trying to abolish, it was not immediately apparent. “The Turnbull government is providing $17 million funding for nine new R&D projects set to deliver renewable energy technologies and solutions suited to the 21st century,” Hunt proudly announced in a press release, before enthusing at the opening about the potential for Australia to lead the world in battery storage. “I’m delighted to announce that in partnership with Synergy, the Australian government is contributing $3.3 million for a community household storing of – solar storage and energy facility,” he told a gathering of media and dignitaries. “Behind us we have 1.1 million hours’ worth of storage. This is the real world, this is the future that is behind us in terms of storage, solar energy on the roofs in front of us, the storage behind us.” And on it went. Indeed, Hunt’s speech was a compilation of everything that people find confusing and dumbfounding about this Turnbull government. Australia will be among the first to formally sign the Paris climate deal, but it still hasn’t the domestic targets or the policies to get anywhere near its share of meeting that agreement; it professes support for wind and solar but has no new developments to show for it; it claims to have brought certainty to the renewable energy industry, when the only certainty in the last three years has been the lack of investment; it hails innovative solar and storage projects and then removes the funding mechanism that makes them possible; it applauds the work of a key agency it has tried to dismantle and finally strips it of funding; it wants to cease grants to clean energy projects “to protect taxpayers money” but then uses grants to polluters as the basis of its emissions reduction fund. Read More here 14 April 2016, Climate News Network, Investors warned: Forget fossil fuels. Historic change heralded as investors are told they face losing their money if they continue to back the fossil fuel industry that is causing disastrous global warming. The head of a global philanthropic foundation says that the world turning away from fossil fuels is a critical moment in human history, akin to the abolition of slavery. Ellen Dorsey, executive director of the US-based Wallace Global Fund, told a packed conference in Oxford, UK, this week: “We are right in the middle of a transition − not to try to curb the burning of the fuels, but to end the fossil fuel industry altogether. The industry will be one for the history books, much like slavery” The conference, organised by the Divest Invest movement, was held to assess progress in convincing the financial sector that it will lose its money if it continues to invest in fossil fuels. The movement involves 500 organisations − with a combined wealth of more than $3.4 trillion − that have already pledged to divest from fossil fuels and invest in climate solutions. Sarah Butler-Sloss, founder director of the Ashden Trust, a leader in the field of green energy and sustainable development, opened the conference and stressed: “We are not making a sacrifice. We have gained money from not investing in fossil fuels.” Read More here 13 April 2016, Inside Climate News, CO2’s Role in Global Warming Has Been on the Oil Industry’s Radar Since the 1960s. Historical records reveal early industry concern with air pollutants, including smog and CO2, and unwanted regulation. The oil industry’s leading pollution-control consultants advised the American Petroleum Institute in 1968 that carbon dioxide from burning fossil fuels deserved as much concern as the smog and soot that had commanded attention for decades. Carbon dioxide was “the only air pollutant which has been proven to be of global importance to man’s environment on the basis of a long period of scientific investigation,” two scientists from the Stanford Research Institute (SRI) told the API. This paper, along with scores of other publications, shows that the risks of climate change were being discussed in the inner circles of the oil industry earlier than previously documented. The records, unearthed from archives by a Washington, D.C. environmental law organization, the Center for International Environmental Law (CIEL), reveal that the carbon dioxide question—an obscure corner of research for much of the 20th century—had been closely studied since the 1950s by some oil company researchers. Read More here 13 April 2016, Vox, Why Peabody Energy, the world’s largest coal company, just went bankrupt. The US coal industry is imploding. And here’s the biggest casualty yet: Peabody Energy, the world’s largest private-sector coal company, filed for Chapter 11 bankruptcy in St. Louis on Wednesday. It’s hard to overstate what a seismic shift this is. Peabody has been a giant in the mining industry seemingly forever, after starting out in Chicago in 1880 with just a wagon and two mules. A decade ago, coal provided fully half of America’s electricity, much of it dug up by Peabody in Illinois, Kentucky, Wyoming, Colorado. At its peak in 2008, the company had a market cap of $20 billion, supplying coal to 26 countries worldwide. But then came the fall. The rise of fracking and cheap shale gas in the United States, coupled with stricter environmental regulations, has helped push hundreds of coal-fired power plants out of business in recent years. US coal production has nosedived from 1.17 billion metric tons in 2008 to just 752.5 million in 2016. Coal consumption in China, another crucial market, has also cooled off of late. Between 2012 and 2015, Peabody laid off more than 20 percent of its global workforceand started closing some of its US mines. Today, the company is saddled with $10.1 billion in debt and its future looks much bleaker than it once did. Hence the bankruptcy filing. Read More here 5 November 2019, The Conversation. Scott Morrison wants to outlaw boycott campaigns. But the mining industry doesn’t need protection. On Friday, Prime Minister Scott Morrison vowed to craft new laws targeting social and political protest. Speaking to the Queensland Resources Council, he labelled some activist groups as environmental “anarchists”, and lamented how businesses like banks might be sensitive to consumer or protest group pressure to limit dealings with the mining industry. These laws could ban activists from advocating for certain boycotts against companies. Morrison lambasted progressives, saying they: want to tell you where to live, what job you can have, what you can say and what you can think – and tax you more for the privilege of all of those instructions. Boycott laws already exist. The first thing to note is there is no proposal on the table. Morrison merely warned his government was: working to identify mechanisms that can successfully outlaw these indulgent and selfish practices. The existing law on boycotts has been driven by conservative governments. In the 1970s, the Fraser government sought to crack down on “secondary boycotts”, with stiff provisions in trade practices or competition law. Morrison also specifically invoked “secondary boycotts” in his speech. Read more here 1 November 2019, Renew Economy. Taylor’s ‘expert panel’ in search of emissions reductions shuts out clean energy sector. The ‘expert panel’ to which the Morrison government has delegated responsibility for searching out new sources emissions reductions this week, has effectively shut out the clean energy sector from its secret consultation process. This week, details emerged that federal minister for energy and emissions reduction, Angus Taylor, had stacked the ‘expert panel’, government reps and led by a pair with close ties to the fossil fuel sector. The ‘Expert Panel Examining Opportunities for Further Abatement’ has released a discussion paper, which flags the desire of the Morrison Government to use its rebranded Climate Solutions Fund to eke out additional emissions reduction, in an acknowledgement that the government is not on track to meet its 2030 emissions reduction target. Read more here 31 October 2019, The Conversation, The science of drought is complex but the message on climate change is clear.The issue of whether Australia’s current drought is caused by climate change has been seized on by some media commentators, with debate raging over a remark from eminent scientist Andy Pitman that “there is no link between climate change and drought”. Professor Pitman has since qualified, he meant to say “there is no direct link between climate change and drought”. A highly politicised debate that tries to corner scientists will not do much to help rural communities struggling with the ongoing dry. But it is still worthwhile understanding the complexity of how climate change relates to drought. So, why the contention? It may seem like splitting hairs to focus on single words, but the reality is drought is complex, and broad definitive statements are difficult to make. Nevertheless, aspects of drought are linked with climate change. Let us try to give you a taste of the complexity. First, it’s important to understand that drought is a manifestation of interactions between the atmosphere, ocean, and land. In Australia, the Bureau of Meteorology uses rainfall deficiencies to identify regions that are under drought conditions. Anyone on the land doesn’t need to be reminded, but the current drought is seriously bad. These maps show the patterns of rainfall deficiency over the past 36 and 18 months, highlighting the severity and extent of what we call meteorological drought. Read more here 30 October 2019, Renew Economy. Coalition gives $1bn to CEFC for 24/7 reliable renewable power. The federal Coalition government has injected another $1 billion into the $10 billion Clean Energy Finance Corporation – the same Labor-established green bank his party tried for years to abolish and hamstring – to underwrite renewables integration and grid stabilisation technologies. The Liberal National government said on Wednesday that it would establish a $1 billion Grid Reliability Fund to support investment in new energy generation, storage and transmission infrastructure, including projects shortlisted for its Underwriting New Generation Investments (UNGI) program. The joint statement from Prime Minister Scott Morrison, energy minister Angus Taylor and minister for finance Mathias Cormann said eligible investments for the new fund would include energy storage projects like pumped hydro and batteries, transmission and distribution infrastructure, and grid stabilising technologies. 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.
