Australia is increasingly at risk of becoming “internationally isolated” with Prime Minister Scott Morrison declaring his government will not be dictated to by other countries on energy and climate policies.
As Green Finance begins to be seen more and more as global best practice the energy transition can only accelerate. This week, two stories attest to the growing acceptance of green finance by major financial institutions – ANZ Bank has pledged to extricate itself from thermal coal by 2030 and pursue more sustainable policies and Mike Cannon-Brookes supported startup Brighte announces Australia’s first 100% green asset-backed securitisation, $190 million in debt financing for Australians looking to uptake solar and battery storage in their home.
Solar Citizens, the Queensland Council of Social Service (QCOSS) and Queensland Conservation Council have come together to propose a $215 million initiative to the Queensland Government which would see 50 MW of solar installed across more than 50,000 social dwellings to help households save on their energy bills in these tough economic times.
The Northern Territory Government has released its Climate Change Response, a directive officially adopting a 2050 net-zero emissions target and 50% renewable energy by 2030 target. The Climate Council has welcomed the response, saying that the NT now joins the rest of Australia’s states and territories in effectively forming a “de facto national net-zero target”.
AGL, Australia’s largest carbon emitter, has updated its Climate Statement today, confirming its net zero emissions target by 2050 and announcing that all its products will now come with a carbon neutral option for customers to offset its emissions. AGL says the energy transition is a time to show its leadership but instead asks its customers to take the hit.
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