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Hey Reader, in today's edition:
- The risks of inaction
- Going long on Queensland
- Nature's lens on 'go' and 'no go' zones
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Climate risks are ‘confronting’
Australia’s green bank, industry and all levels of government are on notice to consider the nation’s "chronic climate risks" and invest accordingly.
It’s not too late to avert the worst of it, according to the first National Climate Risk Assessment and Adaptation Plan, which feed into the meaningful 2035 emissions reduction pledge Australia must make under the Paris Agreement.
Described as “confronting” by Climate Change and Energy Minister Chris Bowen, the official analysis runs to more than 1,000 pages and warns energy assets face climate risk in urban and rural areas, with exposure highest in southern areas of South Australia, eastern and western Victoria, and central and coastal areas of NSW.
"This can’t just be another report that ministers read over a coffee and then try to forget about … The world is approaching the point of no return on climate action. Only meaningful cuts to climate pollution this decade can address the worst climate risks outlined in this national report. At 3 degrees of warming, sea-levels would rise by one metre, leading to 18 times more coastal flooding and up to three million Australians in coastal communities facing a high or very high risk of flooding, erosion, and inundation by 2090."
Greg Mullins
Former Commissioner of Fire & Rescue NSW
Extreme heat is a widespread and systemic risk with heatwaves already the deadliest natural hazard in Australia and eastern cities at risk of being more like central Australia’s hazard profile. At +1.5°C of global warming, heat-related deaths are projected to rise by 103% in Sydney and by 60% in Melbourne and by 444% and 259% respectively at +3.0°C.
“Later this week, the Government is expected to release Australia's 2035 climate target. This must represent our highest achievable ambition on emissions reduction. Anything less than a target at the top end of the Climate Change Authority's 65-75% range will be a betrayal of the communities this report shows will be devastated by runaway climate change.”
Allegra Spender
Independent MP
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Expert view
“Australia's first National Climate Risk Assessment is the ghost of climate future. It is also a spur for ambition, on reducing emissions, and hopefully we get that later this week with Australia's new 2035 target. It’s also a spur for ambition on adaptation; Australia's policy agenda on adaptation is woefully threadbare and while the first National Adaptation Plan adds some embroidery, there is so much more to do.
At the top of the list should be all the things that will deliver a mitigation and an adaptation outcome. Things like thermal performance upgrades of homes, that accelerate our momentum towards a renewable grid by helping manage peak demand, while also insulating Australians from the impact of extreme weather events.
Today's report is scary, but we have so many of the solutions already. We can meet this challenge. This Assessment is a spur for getting out there and getting it done.”
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Luke Menzel
CEO, Energy Efficiency Council
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Expert view
“Investors should fully integrate the information in the National Climate Risk Assessment and 15 new national datasets into their investment processes, including risk management, scenario analysis, and economic modelling.
Anyone looking at this report will realise the urgency and scale of action needed across almost the whole economy, particularly infrastructure, supply chains, and the health and natural systems they rely upon.
The adaptation plan lays some important and valuable foundations but falls short on committing to the actions needed to protect Australia’s assets and economic growth. It’s crucial to update the Climate Change Act to require regular updates to the risk assessment and adaptation plan. That would lock in continued improvement from today’s start.
Future policy and the next federal budgets should factor in adaptation priorities and opportunities. Australia will also need a comprehensive plan for activating private investment into adaptation.”
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Rebecca Mikula-Wright
CEO, Investor Group on Climate Change
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Expert view
“It has never been more obvious that the costs of inaction are greater than the costs of action. Failure to massively accelerate our energy transition with ambitious emissions reduction targets in the range of 75% by 2035 — noting the climate science dictates stronger action — would be an utter betrayal of our intergenerational responsibility to act now to do everything in our power to mitigate climate destruction.
Australia is a global top 3 exporter of fossil fuels, in a world where emissions know no borders. The government must stop approving new coal and gas and massively step up the speed and scale of investment into decarbonisation of our energy and industrial systems and resources sector.
It is economically irresponsible to keep devoting our scarce resources to digging the hole deeper rather than pivoting human capital, investment, enabling public infrastructure and government resources towards burgeoning zero-emissions industries of the future.
Anything less is unconscionable. Australia must ignore the bleating of fossil fuel industry vested interests, their lobbyists and captured politicians who are actively undermining the public interest, endangering our lives and economy.”
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Tim Buckley
Director, Climate Energy Finance
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Going long on Queensland
When Queensland’s Crisafulli government rolled out tough new guidelines for community engagement for wind and solar projects, it unnerved some in the clean energy sector. Decisions to pause or reject wind farms that had already been approved didn’t help, with the Clean Energy Investor Group downgrading the state’s credentials as an investment destination.
But Quinbrook co-founder David Scaysbrook isn’t too perturbed. He says the company’s $3.5 billion Supernode project is still on track, and Queensland can help deliver the new export markets governments are looking for.
“There's a lot of talk about green super power, there's a lot of rhetoric, there's a lot of articles written, but frankly, mate, not that many people doing it, and we are.”
David Scaysbrook
Co-founder, Quinbrook
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Nature’s lens on 'go' and 'no go' zones
The Australian Conservation Foundation (ACF) and researchers from the University of Melbourne have mapped where renewable energy projects should be built without destroying nature.
The report, Mapping Renewables for Nature: A roadmap for our energy future, out today urges industry to invest in smart mapping to make sure their projects and operations have strong nature protection and restoration goals and are aligned with the national target of 30 by 30 (to protect and conserve 30% of Australia's landmass and 30% of Australia's marine areas by 2030) and the Global Biodiversity Framework.
Taking a close look at Gippsland in Victoria, Central West Orana in NSW and the Banana Shire in Central Queensland, they identify areas where renewable energy projects can be developed with minimal impact to threatened wildlife and ecosystems. By avoiding 30% of land with the highest biodiversity, up to 90% of the habitat for threatened plant and animal species could be safeguarded.
“We don’t need to lose any more biodiversity as part of the much needed renewable energy transition … there are plenty of already cleared areas where there’s plenty of sun and wind. If we can avoid building energy projects and transmission lines on 30% of the highest biodiversity value land, we can protect 70 to 90% of the habitat of our most endangered animals and plants.
“We need strong leadership and resourcing from government to carefully plan the location of renewable energy projects and transmission lines to avoid damaging high biodiversity value areas.”
Brendan Wintle
University of Melbourne Professor of Conservation Ecology
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Catch Up
Capital
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BHP (ASX: CEO) CEO Mike Henry hit out at high energy prices in Australia and warned the nation must have affordable power to deliver net zero goals, The Australian reported. “The reality is right now Australia has electricity costs that are two to three times higher than countries that we are competing with and 50 to 100% higher than the US,” he told a shareholder forum.
There is a greater risk of a LNG surplus beyond 2027, UBS energy analysts Tom Allen and Maike Baumeister said in a briefing note, citing the latest research report by the investment bank’s US-based analyst Nayoung Kim. Tight global LNG supply is expected through 2027, before new liquefaction capacity — particularly in the US and Qatar — outpaces demand growth, surplus global capacity and lower prices. They expect steady growth in global LNG demand at 5.8% p.a. over 2025-2030 with emerging Asia the primary driver of demand growth, with imports tipped to rise almost 75% over the period.
 Projects
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Queensland’s first community-owned and led microgrid project was "born out of the trauma and tragedy our people experienced during the Cyclone Jasper flooding event” in 2023 but is a “powerful step toward a stronger, more resilient future”, said Josh Paterson, CEO of Jabalbina Yalanji Aboriginal Corporation. The Wujal Wujal community was cut off from power and relocated to Cairns and other distant centres for 6-12 months. (National Indigenous Times)
“We've got technology that could really help lower people's energy costs. What we're finding is these benefits are being really unequally distributed because it's very cost-driven and for people living in remote areas, the costs are higher to get them connected.”
Ruby Heard
Founder, Alinga Energy Consulting
Policy
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A UK-US deal ushers in a “golden age of nuclear”, according to Energy Secretary Ed Miliband, but the FT warned it would add hundreds of thousands of pounds to the energy bills of large companies. The agreement, known as the Atlantic Partnership for Advanced Nuclear Energy, is pitched as delivering tangible benefits for British workers and families from secure, clean energy job opportunities across the country. (BBC)
“Investing in nuclear power brings energy security and high quality jobs to the UK. Having restarted the UK’s new nuclear programme at Hinkley Point C, EDF is excited to see further projects coming forward and looks forward to bringing its skills and expertise to bear in support of the country’s nuclear ambitions.”
Simone Rossi
CEO of EDF in the UK
Australia needs almost 30,000 EV charging stations to be built, but has just 3,000, according to a report by JOLT Energy. A survey of more than 1,100 customers found 62% used public charging as part of their daily routine and 81% said driving an EV had changed their thinking about energy use.
“Planners and developers need to align high-density housing developments with EV infrastructure from the outset just to meet demand — and also cater for the 2.5 million Australians living in existing apartment developments.”
Stuart Moffatt
General Manager - Network Growth, JOLT
Regulation
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Treasury proposes expanding the capital gains tax (CGT) to foreigners investing in renewable energy assets, which critics say is at odds with the Albanese government’s objective to attract green investment and reduce emissions, the AFR reported. The measure was announced in the 2024-25 Budget, with the 2024 consultation paper listing energy infrastructure, such as wind turbines, solar panels, batteries, transmission towers, transmission lines and substations as within scope.
Technology
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In a first-of-its-kind trial in Australia, construction materials company Boral said it had successfully produced low-carbon concrete as it looks for a viable pathway for using products from recarbonation-based carbon capture technology at its NSW operations.
“We believe recarbonation will play an important role in decarbonising the cement and concrete industry. The successful accelerated recarbonation of recycled concrete aggregates at our CCS pilot plant at Berrima and utilisation of these aggregates in concrete further reinforce the potential of this technology.”
Vik Bansal
CEO, Boral
Climate
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Despite three years of disappointing results, Jean-Philippe Desmartin at Paris-based Edmond de Rothschild Asset Management, is more optimistic about the outcome of next month’s 30th United Nations Climate Change Conference (COP30) in Belém, Brazil. (Wealth Briefing)
Wood Mackenzie recently shared market insights on major items on the agenda:
- Updated pledges that bring emissions into line with the Paris Agreement’s 1.5 °C target
- The ‘Baku to Belém Roadmap’ to mobilise US$1.3 trillion a year by 2035 in climate finance for developing countries
- Discussions on a global carbon pricing framework and a US$125 billion forest conservation fund
- Guardrails on carbon credits to ensure carbon credits deliver real emission cuts and are not used as loopholes
- Big conversations on climate economics and equity to align decarbonisation with economic growth, especially for developing nations.
People
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Andrew Dickson joined the Smart Energy Council as Senior Advisor - South Australia.
Future Fund Chief Investment Officer Ben Samild has resigned, with Deputy Chief Investment Officer Hugh Murray appointed interim CIO.
Research
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Commercial and Industrial (C&I) rooftop solar and batteries has the potential to deliver more than 28GW — 10 times more than Australia’s largest coal-fired power station Eraring — to the grid quickly and easily but only 5GW is currently installed, according to a new Nexa Advisory report. Priority reforms are recommended to accelerate uptake:
- Create a dedicated C&I tender within the Capacity Investment Scheme, with lower entry thresholds (1MW)
- Expand CEFC and ARENA support for mid-size projects, storage and fleet charging
- Modernise tariffs to reward flexibility, exports and clean energy integration
- Strengthen demand response schemes to open participation for more businesses
- Guarantee fair competition and transparency by enforcing ring-fencing of monopoly Distribution Network Service Providers, provide data transparency on network capacity constraints and costs, streamlining grid connections and penalising delays.
Random
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The US-UK nuclear pact precedes deals on tech and whisky to mark US President Donald Trump's visit to the UK. (Bloomberg)
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What's On
September 16
The Price of Power: The Future of Australia's Energy Sector
Bluescope Chief Executive, Climate Change and Sustainability Deborah Caudle, Alinta Energy CEO Jeff Dimery, AGL CEO Damien Nicks and Australian Energy Council CEO Louisa Kinnear will speak at this American Chamber of Commerce event in Melbourne, with R. Blair Thomas, CEO of US energy investment firm EIG speaking via Zoom.
September 16-17
Oceania Renewable Power Summit
NEM Review Chair Tim Nelson and Baringa Partner Peter Sherry headline this Auckland event across the ditch.
September 16-18
Industrial Net Zero Conference 2025
Climate Change Authority Chair Matt Kean, Viva Energy Future Fuels Manager Vanessa Lenihan, Jemena General Manager Environment & Sustainability Sonia Fourie, Vulcan Energy Head of Sustainability Samantha Langley and ARENA’s Technical Lead on Decarbonisation Peter Haenke are among the speakers at this event in Sydney.
September 17
National Press Club
Dr Vanessa Pirotta will address the National Press Club on “Australia’s Scientific Future: Built on Education, Connection and Investment” at this Canberra event.
September 18
Shaping the future of energy in the North, Broome
Horizon Power Future Technology & Innovation Manager David Edwards will speak alongside WA Chamber of Minerals and Energy Manager for Climate and Energy Steven Mills and Renew Map Co-founder Alex Thompson at this Broome Chamber of Commerce & Industry event.
September 23
AEMO's Annual Results
Australian Energy Market Operator CEO Daniel Westerman and Executive General Manager for Finance and Governance Vanessa Hannan will outline progress against strategic priorities and initiatives, financial results for FY25 and priorities for FY26.
September 24
Updated net zero pathways for Australia
The Net Zero Australia Project team from the University of Melbourne, the University of Queensland and Princeton University will present their latest report on the roles of renewables, energy storage and firming including nuclear, carbon capture and storage and other complementary technologies at this hybrid event.
October 1
ANU Energy Update: Getting to net zero
Grattan Institute Energy and Climate Change Program Director Alison Reeve will chair this hybrid event featuring Climate Change Authority Deputy CEO Eliza Murray, ANU Crawford School of Public Policy Associate Professor Rebecca Colvin and ANU Deputy Director, School of Engineering, Associate Professor Marnie Shaw.
October 7-8
NEM Development Conference 2025
EnergyAustralia Managing Director Mark Collette and Powerlink CEO Paul Simshauser will headline this Brisbane event hosted by Griffith University and UQ, which will also feature Queensland Farmers Federation CEO Jo Sheppard, NEM Review panel Chair Tim Nelson, Victoria Energy Policy Centre Director Bruce Mountain, University of Sydney Professor of Law Penny Crossley, Iberdrola GM Regulation & Energy Policy Joel Gilmore and Global Roam CEO Paul McArdle.
October 15
The Energy Q&A with the NEM Review panel
NEM Review panel Tim Nelson, Paula Conboy, Ava Hancock and Phil Hirschhorn will speak at this webinar moderated by The Energy Advisory Board Member Anna Hancock.
October 16-17
IGCC Summit 2025: Decoding the transition
Generation Investment Management Founding Partner and former US Vice President Al Gore will headline this Sydney event from the Investor Group on Climate Change. Other speakers include NSW Energy Minister Penny Sharpe, Climate Change Authority Chair Matt Kean, Energy Efficiency Council CEO Luke Menzel, ARENA Associate Director Tanya Hodgeson and Net Zero Economy Agency CEO David Shankey.
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