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Net Zero: Australia doubles down on gas-fired recovery By iPolitics. Published on May 19, 2021 12:22pm
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The Lead
The new plant is part of the government’s “gas-fired recovery” from the pandemic, and is needed to avoid “unacceptable price increases,” Australian Energy and Emissions Reduction Minister Angus Taylor said in a statement.
Denied insurance, rebuffed loan applications and struggling to refinance: Australia’s coal export industry, the world’s largest, says it is being squeezed out by banks and insurers, and some want the government to wade in.
Australia exported A$43bn-worth of thermal coal, its second-largest export by value, in 2020. But miners say that Australian banks’ retreat from fossil fuels as they seek to curb their contribution to greenhouse gas emissions is also stifling Asian financiers’ willingness to plug the resulting funding gap.
The complaints come in submissions to a
parliamentary inquiry established earlier this year to examine the impact of prudential regulation on Australia’s export industries. While the probe includes all major exporters, it is expected to focus mainly on the increasingly controversial coal trade.
Big Oil Braces for Climate Votes as Investor Pressure Mounts
Laura Hurst, Bloomberg News Idle drilling rigs near Midland, Texas, U.S, in February. Photographer: Matthew Busch/Bloomberg , Bloomberg
(Bloomberg) As Europeâs oil majors prepare to host their annual shareholder meetings, one topic is garnering almost all the attention.
Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this monthâs AGMs, even as the companies talk up their own, competing proposals.