Markets

New research commissioned by Atlassian suggests a burgeoning Social Contract whereby employees want business to take more of a leadership role on societal issues to make up for perceived government lack. The research feels the pulse of the Australian workforce but also raises some interesting questions.

The South Australian Government’s subsidy under the $100 million Home Battery Scheme will have its first planned reduction in five weeks’ time.

Grupo Energia is the latest renewable energy company to set up shop in Australia and it has chosen Melbourne for its local headquarters.

Despite a sizable pipeline of big PV projects, many EPCs have found it difficult to escape the pitfalls of Australia’s notoriously competitive market. The turmoil in the solar construction sector became evident with the collapse of the nation’s leading contractor RCR Tomlinson. It was further emphasized by Tempo Australia’s problems and last month’s withdrawal of Sydney-based contractor Downer Group. As the survival of the fittest continues, Mumbai-based EPC juggernaut Sterling and Wilson Solar (SWSL) is confident it has found a way to adapt and thrive.

UNSW will divest itself of fossil fuel assets by 2025 as part of its ambitious net-zero emissions goal. The global powerhouse of renewable energy and sustainability science is advancing rapidly towards energy purity as the capital flight from fossil fuels accelerates.

UK-based infrastructure investor John Laing will make no further investments in standalone solar and wind, following the write-downs taken on its European and Australian projects.

Tasmania has committed to being 100% renewable by 2022 and remains well on track to meet this target ahead of schedule. But the island state says it is well placed to set a more ambitious goal, which would see it double its renewable production and help mainland Australia reduce its emissions.

Telstra joins the list of large corporations ramping up their policies on climate change through emissions reduction and renewable energy uptake. CEO Andrew Penn has declared that Telstra needs to lead from the front.

Rio Tinto set to invest approximately $1 billion over the next five years as the mining giant looks to deliver on its new climate change goals and particularly its 2050 net zero emissions target.

You’ll recall that in 2019, an Australian National University Study identified 22,000 potential pumped-hydro energy storage sites across Australia. Altura Group, is proposing development of three east-coast sites that are also close to strong transmission connections, abundant renewable resources and load centres.