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The economic assessments of the Glendell proposal overstate its benefits and understate its costs. Applying current carbon prices to only its direct emissions gives a net present value of between negative $460 and negative $570 million. This excludes consideration of the potential heritage and biodiversity impacts.
The Department of Planning and Environment recommends approval of the project based on economic benefits, but finds these benefits reduce “significantly” if greenhouse emissions are properly accounted for. The Department did not quantify the significant reduction. Applying a carbon price of between $24.50/t and $73/t reduces the value of the project to zero. Such carbon
The LNG industry portrays itself as essential to WA’s economy, a sentiment echoed by the WA Government. However, LNG industry contributes just 1% of the WA state budget and two thirds of Western Australia’s gas is effectively given away by the Western Australian and Australian Governments with almost no royalties or tax being paid. The
This synthesis report was conducted by Freddie Daley of the University of Sussex in collaboration with the Fossil Fuel Non- Proliferation Treaty Initiative, as well as key partners in each of the five countries analysed – Greenpeace Norway, The Australia Institute, Stand.earth, Uplift UK and Oil Change International. The scientific consensus is clear: limiting global
Australia’s target of net zero emissions by 2050 is inconsistent with its plans to massively expand coal and gas production. New fossil fuel projects under development in Australia would result in 1.7 billion tonnes of greenhouse gas emissions each year – equivalent annual emissions of over 200 coal-fired power stations, twice as much as global
The Australia Institute welcomes the opportunity to make a submission to the Inquiry into the Closure of the Hazelwood and Yallourn Power Stations. The Australia Institute is an independent public policy think tank, based in Canberra. We carry out research on a broad range of economic, social and environmental issues. Two recent research papers by
The draft offsets policy undermines the NT Government policy of adopting Fracking Inquiry Recommendation 9.8 – that all life-cycle emissions from onshore gas projects be offset. The draft policy also proposes ‘indirect emissions offsets’ that are not utilised in any other jurisdiction and would be entirely without integrity. Indirect offsets would undermine other offset markets
Climate of the Nation is the longest continuous survey of community attitudes to climate change in the country.
Like Australia, Germany has had a long and polarised debate about phasing out coal-fired power stations. Germany formed a multi-stakeholder group that negotiated a consensus to phase out coal power by 2038. A similar process could help Australia navigate the trade-offs inherent in such a change.
The Australia Institute made a submission on the Winchester South coal mine environmental impact statement. Winchester South is a marginal project. The economic assessment, astonishingly, does not consider the impact of climate action on the coal market. Optimism bias and management incentives explain why mining approval is being sought despite the weak financial or economic
Despite worsening climate crises and forecasts of declining coal markets, the NSW Government is proposing to release new areas for coal exploration. New mine proposals near Rylstone would impose significant costs on the local community and be unlikely to bring any economic benefit.
The Hume Coal Project is not economically viable and should be rejected. Despite recommending against approval, the Department of Planning, Industry and Environment overstates the economic case for the project.
Australia’s Emissions Reduction Fund will soon incorporate carbon capture and storage projects. The design and development of the CCS ERF method lacks integrity and independence. The proposed method will allow industry to sidestep regulation, enable new gas and oil projects to exist where they otherwise would not have, and result in more emissions being emitted
日本語は以下 ↓ Japan uses a lot of coal. The 170 million tonnes the country burned in 2020 is enough to fill the Tokyo Dome 102 times over. Burning so much coal is a key reason Japan is the fifth-largest greenhouse emitter in the world. If the world is to avoid dangerous climate change, coal use
Woodside and BHP’s Scarborough to Pluto LNG project is the most polluting fossil fuel project currently proposed in Australia. It would result in annual carbon pollution equal to over 15 new coal fired power stations, and more pollution than the proposed Adani coal mine. The direct pollution from this project would increase WA’s total emissions
Existing mines in NSW’s Upper Hunter region are approved to mine 241 million tonnes per year, but mined just 150 million tonnes in 2019/20. The difference of 91.5 million tonnes shows that there is no need for new coal projects in the state. Filling in the Upper Hunter’s final voids would cost between $12 billion
The Barossa Proposal could be one of the dirtiest LNG projects in the world, leading to immense harm to the environment in the immediate vicinity, and further accelerating dangerous climate change. Due to the high climate risks associated with this project, going ahead with the financing of this project would contradict the stated purpose of
In 2020-21, Australian Federal and state governments provided a total of $10.3 billion worth of spending and tax breaks to assist fossil fuel industries. The $7.8 billion cost of the fuel tax rebate alone is more than the budget of the Australian Army. Over the longer term, $8.3 billion is committed to subsidising gas extraction,
The majority of voters (57.4%) in the NSW state seat of Upper Hunter support former PM Malcolm Turnbull’s call for a moratorium on new coal mine approvals and a remediation plan for existing mines for the Hunter Valley. The Australia Institute surveyed a nationally representative sample of 686 residents in the NSW state seat of
The Australia Institute made a submission objecting to the proposal to expand and extend the Mangoola coal mine in the Hunter Valley.
The Australia Institute made a submission objecting to the proposal to expand and extend the Mt Pleasant coal mine in the Hunter Valley.
Offshore oil and gas industries contribute little to the Australian economy in terms of tax revenue or employment. Many projects represent a net cost to the Australian community, as subsidies, cleanup costs, environmental impacts and resource depletion outweigh the relatively small tax and employment benefits. This bill should be supported as it could assist in
Welcome to the January 2021 issue of the NEEA Report, with data relating to electricity in the National Electricity Market updated to the end of November 2020. This includes a short summary of the very important investment initiatives in New South Wales, announced by Minister Matt Kean at the end of November. This issue also
The Australia Institute made a submission to the NSW Independent Planning Commission on the Tahmoor South Coal Project.
Gas companies operating in Australia have announced major job cuts through the pandemic. ABS Labour Force figures show that average employment in oil and gas extraction has declined by over 10% from 2019 to 2020, despite record production. If all Australian industries had responded to the COVID-19 pandemic with equivalent job cuts, Australia would have
The Australia Institute made a submission to the “Rapid Assessment Framework” consultation, a process to reform parts of the NSW planning process.
The Australia Institute made a submission on the consultation paper for the Department of Industry, Science, Energy and Resources’ Enhanced offshore oil and gas decommissioning framework.