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Carbon challenge

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Tomago is the country’s largest aluminium smelter and the single biggest user of energy.

The country’s biggest aluminium smelter says green target unreachable

Rio Tinto-backed Tomago, which uses more power than any other industrial operation in Australia, says renewable energy is too expensive and in short supply.

  • Angela Macdonald-Smith
Santos CEO Kevin Gallagher in Sydney on Tuesday.

Dollars over barrels: Santos’ pledge to investors

A new dividend policy – which is underpinned by softer guidance for output – comes amid pressure on the oil and gas producer to lift investor returns.

  • Angela Macdonald-Smith

The energy transition will be much cheaper than you think

Analysts have for decades severely overestimated energy demand and underestimated the speed of technological advances.

Why the world’s biggest climate conference is a cynical scam

The COP process is now worse than superfluous: it has become a cynical exercise in moral blackmail against the West.

  • Ambrose Evans-Pritchard

America got the world driving. Now it’s going home

The US car industry is turning inwards again for the first time in a century. Detroit got the world on the road. BYD will inherit the earth.

  • David Fickling
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Yesterday

A protester speaks at COP29 in Baku, Azerbaijan.

No-shows and early exits make climate talks a sideshow

The world leaders who skipped Baku last week are all in Brazil now. While COPs are always fraught and fractious, this one feels at risk of sliding into irrelevance.

  • Updated
  • Hans van Leeuwen
QIC investment director Lottie Bryon, private equity partner Nick Guest and private equity analyst Eden Peterson.

QIC bets on Aussie climate tech companies, backs $200m VC

Queensland’s sovereign fund has joined Westpac and Clean Energy Finance Corporation in backing Virescent Venture’s second climate-focused fund.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

This Month

Coal miners halt climate fund donations citing lack of projects

Australia’s cashed-up coal miners have put the brakes on contributions to an industry decarbonisation fund and the decision will be reviewed “periodically”.

  • Peter Ker
Glencore CEO Gary Nagle says there has been an evident shift in thinking around ESG outside of Australia.

NSW idle in pragmatic shift on coal: Glencore CEO

Gary Nagle says the state, where Glencore is struggling to extend the life of a coal mine, has fallen behind the rest of the world in failing to adopt a more “neutral” position on the fossil fuel.

  • Angela Macdonald-Smith
Santos CEO Kevin Gallagher is under fire over the company’s road map to reach net zero emissions by 2040.

Santos’ own director queried use of ‘clean’ definition: ACCR

Then-director Peter Hearl’s querying of the company’s use of the word “clean” exemplifies how readers of its climate report have been misled, Federal Court hears.

  • Angela Macdonald-Smith
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Fortescue executive chairman Andrew Forrest at COP29 in Baku.

Forrest makes ‘dollars and cents’ appeal to climate sceptic Trump

The US president-elect has already reached out to the Fortescue boss, who has switched from environmental rhetoric to the language of economic rationalism.

  • Hans van Leeuwen
‘Gift of God’ … Azerbaijani president Ilham Aliyev extols his country’s natural resources.

Oil and gas are ‘a gift of God’: COP29 leader

The Azerbaijan president’s opening speech was a striking start to the climate summit, already marred by uncertainty and absenteeism.

  • Hans van Leeuwen
Wind farms in NSW will be subject to rules to minimise visual and noise impact.

Turbines quieter than a fridge: The NSW rules to fix renewables delays

The new guidelines should cut approval times for large new wind farms in NSW that had blown out to almost a decade.

  • Angela Macdonald-Smith
John Podesta at COP29 in Baku, Azerbaijan. “Are we facing new headwinds? Absolutely. But we won’t revert to the energy system of the 1950s. No way.”

Carbon trading deal struck despite likely US exit from Paris accord

Carbon trading could help raise some of the cash developing countries need to adapt to the effects of climate change, and enable big polluters to cut emissions.

  • Kenza Bryan, Attracta Mooney and Aime Williams
NextDC CEO Craig Scroggie (r) talks to AFR technology editor Paul Smith in Sydney.

Nuclear ban holds Australia back from data centre opportunity

Craig Scroggie says without a ‘logical conversation’ on nuclear, Australia may miss an opportunity to grab an outsized chunk of the booming data centre industry.

  • Angela Macdonald-Smith
Joanne Spillane, Macquarie Group’s global head of private capital markets (centre), flanked by KKR APAC Infrastructure MD Andrew Jennings (l) and Clayton Utz corporate partner Samy Mansour (r).

Trump win could be good news for Australian energy transition

Investment bankers hope an expected pullback in Inflation Reduction Act support for green investments under the new Trump administration could help Australia.

  • Angela Macdonald-Smith
Momentum is growing in new onshore wind farm projects.

Rebound in wind, solar projects revives slim hope for 2030 targets

More commitments were made to new wind and solar farms in the September quarter than in the whole of 2023, according to Clean Energy Council data.

  • Angela Macdonald-Smith
COP29 isn’t looking likely to be a high-visibility climate summit.

Why no one is turning up to this year’s climate summit

COP29 is meant to land a $US1 trillion deal to fund poor nations’ fight against climate change. But political and business leaders are a widespread no-show.

  • Hans van Leeuwen
Anthony Garnaut (right), CEO of Zen Energy, and Ross Garnaut, director and investor, at a proposed pumped hydro site in NSW last year.

Taiwan investor to open borders for Garnaut’s Zen Energy

The funding deal with HD Renewable Energy Co will enable Zen to progress battery projects in South Australia that will add needed storage to its portfolio.

  • Angela Macdonald-Smith
Costs of transmission projects could rise further, advisers warn.

Energy bill fears grow as transmission costs blow out

Billions of dollars of cost blowouts in transmission announced so far this year have fuelled worries about rising electricity bills for households and business.

  • Updated
  • Angela Macdonald-Smith
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Woodside’s Scarborough gas project in Western Australia is 74.9 per cent complete, including 51 per cent completion at the onshore LNG plant.

Woodside acting on Scarborough gas emissions

The oil and gas producer has made investments to reduce emissions at the Scarborough project, and is examining bigger ones, including carbon capture.

  • Updated
  • Mark Wembridge and Angela Macdonald-Smith
Trump has pledged to increase oil drilling, such as at Oil Search’s Alaskan site.

Pressure on other countries to lead on climate after Trump win

Experts say Trump’s election means countries will need to engage with US businesses and states to ensure the energy transition continues.

  • Hannah Wootton

Innovations that go above and beyond to meet customer needs

Endeavour Energy, the winner of the Established Business to Consumer category, has found customer expectations keep changing, requiring an innovative response.

  • Christopher Niesche

Portal helps manage demand to douse power bill shock

Energy demand influencer Flow Power helps businesses capitalise on low-cost renewables, making it a leader in the Challenger Business to Business category.

  • Sylvia Ramsey
Matt Kean tells senate estimates that there is no economic case for nuclear power.

Nuclear a ‘rent-seeking parasite’ that will push up power prices: Kean

The former NSW treasurer said the alternative energy source was “old outdated technology” and the industry just wanted a taxpayer-funded handout.

  • Hannah Wootton

Original URL: https://www.afr.com/carbon-challenge