Climate Capital Forum

Important post by Zali Steggall OAM MP re the rising costs of #climatechange impacts as Alfred approaches our east coast. The cost of inaction far outweighs the cost of suring up affordable #renewableenergy and #battery storage around the country that brings multiple benefits including reducing the cost of living. Now's the time to act, prepare and invest in our decarbonising future! #auspol

Great to see the Spinifex Offshore Wind Farm moving ahead! Australia needs to fast track large-scale #renewableenergy projects if we are going to grab the incredible demand for and opportunities in the global #decarbonising market. This is a great example. Let's get going! Satya Tanner Amy Boersma Department of Climate Change, Energy, the Environment and Water #auspol #energy

The Climate Capital Forum welcomes this transition fund and the potential it gives us to kickstart green iron and steel production in Australia. Tks to the federal and South Australian governments for taking quick action and providingfinancial support. “Announced as part of the Whyalla steelworks transformation package on Thursday, the Green Iron Investment Fund will be split between transforming the existing South Australian steelworks plant and investing in green iron ore and steel projects.” https://lnkd.in/gcFVjsmG

Climate Capital Forum calls for the immediate passage of Production Tax Credit legislation to kickstart Australian green manufacturing (5Feb25) CANBERRA, 5 February 2025 – The Climate Capital Forum, a network of investors, industry, climate finance experts and philanthropists, are calling on the federal government to immediately pass the Production Tax Credit Legislation (PTC) during this sitting week. PTC incentives form the financial backbone of the Future Made in Australia package, with a pay on delivery model that ensures funding only goes out to industry once the product is successfully produced. The Forum is encouraged by the Prime Minister Anthony Albanese’s commitment that passing the production tax credits legislation is his first priority and we encourage all sides of parliament to unite behind this nation building legislation. Climate Capital Forum delegates are in Canberra this week, meeting with members of parliament to ensure the future of Australia’s energy security. Further comment from delegates below. Key asks of Climate Capital Forum: 1. Pass the Production Tax Credit legislation, including specific and verifiable Community Benefit Principles, in the February 2025 sitting weeks; 2. Expand Future Made in Australia to support the establishment of a green iron and green alumina industry value-adding alongside critical mineral processing, green hydrogen production and critical mineral processing. 3. Establish a Sustainable Aviation Fuel consultation to determine the most efficient mechanism to support the development of a sustainable aviation fuel industry in Australia and embed this within the Future Made in Australia initiative. “Australia must move fast to grab the incredible economic opportunities in the growing global #zeroemissions market with incentives to encourage strategic manufacturing, more renewable energy and storage capacity and clear signals to investors to ramp up funding," said Blair Palese (Founder, Climate Capital Forum, and Ethinvest). Tim Buckley Wayne Smith Larissa Brown Monica Richter Kirk McDonald Amy Boersma Satya Tanner Linda Romanovska Mark Richards Tom Quinn Freddy Sharpe Full press release: https://lnkd.in/gzAdSi6j *#FutureMadeinAustralia (#ProductionTaxCredits and other measures) Bill 2024

Great read from Danny Kennedy … don’t miss it. Climate & Capital Media

Impt read - thanks to Forum member Tim Buckley for this one.

Time to stop playing politics with Australia's #energy needs and costs when so much of our economic success as a nation depends on us getting it right! Tks Tim Buckley. #auspol

Nuclear energy isn't just costly – it’s decades too late to make a difference in our energy transition. The case against nuclear energy couldn’t be clearer: ☢️ Sky-high power bills for Aussie families With cost-of-living pressures mounting, nuclear energy is the most expensive power option – doubling household bills at a time when affordability is critical. ☢️ Halting renewable progress Australia is already leading with 40% smart energy and is on track to reach 50% in just two years. But Mr. Dutton’s plans could stall progress at 54%, choking the growth of industries lowering emissions and power costs. ☢️ Dismantling solar success Up to 3 million Aussie households could be forced to switch off their solar panels – undoing one of Australia’s most significant energy achievements. 📺 John Grimes, Smart Energy Council CEO interviewed on Sky News Australia, 13 December 2024 ***************** The Smart Energy Council stands as Australia’s leading voice for smart energy, championing a cleaner, cheaper, and more sustainable energy future for our nation.

The Climate Capital Forum is thrilled to see Australian Federal Climate and Energy Minister Chris Bowen MP award an impressive 6.4GW of new #zeroemissions #energy capacity supported by 3.5GWh of #battery energy storage systems (BESS) in the first Capacity Investment Scheme (CIS) Generation Tender. The CIS Generation tender was supported by more than 40GW of #investor interest in 84 proposals. This, with the opportunity for more successful competitive tenders in future, could support Australia delivering on the government's impressive 82% #RenewableEnergy by 2030 target. Great to to see investors including Squadron Energy & sister company Windlab, France’s Neoen Australia (Brookfield), UK-based Elgin Energy Group, Lightsource bp, the Philippines ACEN Australia, the Future Fund / QIC/ AGL's Tilt Renewables & local developer Edify Energy taking part. Smaller projects by China's Risen Energy, ACS, Malaysia's PETRONAS & European Energy Australia won support. The Climate Capital Forum looks forward to greater interest from Australian investors in the coming months. Thanks to Giles Parkinson at RenewEconomy for the full story: https://lnkd.in/gi9dT4EH. Eleven of the 19 projects are solar, although wind projects are bigger and account for more than half of all capacity awarded. Eight out of the 19 projects specify BESS, although many of the others also have storage. Most projects are expected to be operational by 2028, with project proposal readiness and grid access progress factors prioritised in the tender selection process, along with local content, community & First Nations engagement. For more information and a full list of projects, see the government's release: https://lnkd.in/g87_itet. Smart Energy Council Blair Palese Wayne Smith Dr Annemarie Jonson Matt Pollard Tim Buckley Freddy Sharpe Tim Lamacraft Satya Tanner Kirk McDonald Mark Richards Larissa Brown

Thanks to the CSIRO for calling out the absurd and outsized cost of Peter Dutton's dangerous nuclear folly. All of those working in the #energy and #climate space, get ready to post, shout out and talk about this a thousand times before the election because Dutton and co won't let up - Nuclear: -Is far too expensive - twice the cost of #renewable energy is a conservative take. -Is far too slow to help address our energy needs - 2040 is a conservative estimate for delivering a working plant with projects around the world blowing out by 10, 20 and 30 years! -Is far more dangerous - hands up, who wants a nuclear power station in their neighbourhood? -Is uninsurable - no commercial insurance company will insure nuclear plants - says everything. -Makes no sense for Australia - we are a country with no nuclear infrastructure nor staff. Nuclear here would man a cold start when we are already at 40% renewable energy uptake! Let's be clear, we'll be hearing about #nuclear despite the above not because you can make any business or energy case for it but because those pushing for it want to extend the use of #climate-threatening #gas and #coal. End of story! And those pushing for it will hope we won't notice we're being had. Let's not be. https://lnkd.in/gPdH4iRT