While increasingly investors, shareholders and consumers have begun to push back against major companies that failure to tackle climate change, 22 of Australia’s largest companies are actively working to undermine the United Nations sponsored Paris Agreement targets.
A green bond has been issued in Australia that will give people the chance to invest in energy storage for the first time.
According to new analysis from the Clean Energy Innovation Fund specialist cleantech investors are expressing strong confidence in Australia’s innovative clean energy sector, with 82 per cent expecting to increase investment levels over the next five years.
Although offset by lower emissions from electricity, increases in greenhouse gas emissions from growing Liquefied Natural Gas (LNG) exports have pushed Australia’s overall carbon pollution up by nearly one per cent in the year to September, 2018.
Clarity and decisiveness from governments is critical to managing the renewable energy transition, with Australia’s decade of policy chaos providing a lesson in how not to do things.
Activist investors, pushing carbon intensive companies to develop more ambitious climate strategies have scored a major victory as Australia’s largest coal miner Glencore has succumbed to shareholder pressure to take action to address climate change, and announced it will cap its global coal output.
Both major parties in the election race for the Australian state of New South Wales have put forward plans focusing on solar and storage for households, with some mixed but mostly positive reaction from the industry.
New figures just released show that renewable energy now accounts for one-fifth of all power generated in Australia, the first time it has done so since the 1970s.
Read more: https://www.iea.org/publications/freepublications/publication/StatusofPowerSystemTransformation2017.pdf