Tom Arup

The faltering Australia energy transition is a good reminder that basically all large-scale electricity infra in Australia has been built by governments and then sold off for operation (to mixed results). Not sure why we think it will be different this time?

Brisbane faces record high petrol prices as Sydney and Melbourne warned of looming spikes Cuts to global supply coinciding with school holidays sends prices up to $2.38 a litre

Fossilflation…
t.co/YPpPmZPVTW

How many headlines like this at the moment? The main losers from this are homeowners and renters. Too many governments around the world are obsessed with industry protection at expense of the communities they are supposed to represent.

www.reuters.com/markets/euro...

As good as a Don’t Look Up example as I’ve seen for a while

Quick update on work I'm leading at the UN PRI. A global collaboration of investors seeking to engage with Australian governments on climate change will expand to 25 with approximately US$8 trillion (AU$12.2 trillion) in assets under management.

www.unpri.org/news-and-pre...

Ultimately Commonwealth statement does not go further than its climate statements in budget and other places. Next step is for Commonwealth to produce more sophisticated and integrated climate risk disclosure providing more quantitative information on sovereign climate change exposure to the economy

In a welcome step Commonwealth in its statement says it will continue to engage with investors on climate issues

Court still to approve terms of the settlement. But it the proposed terms the Commonwealth to publish a statement recognising fiscal impacts for climate change and transition and recognising uncertainty over the impacts (if at all) on Australian Government bonds.

The Commonwealth Treasury and @EGLawyers
have settled a landmark legal challenge over the alleged failure to disclose climate risks associated with Australian Government bonds.

equitygenerationlawyers.com/wp/wp-conten...

Just like to remember who the main contributors to the problem is ;)

And making the problem infinitely and unmanageably worse

Agree not understanding consequences of risk work an issue (unless this is a coded message to me given my work then def an issue!!) but bigger driver of sovereign divestment is pretty simply a whole bunch of folks doing whatever they can to keep spewing fossil fuels into atmosphere

Agree. The project is how to make these sovereigns more investable/investment resilient in face of inevitable climate damage, not lead a retreat to EU solar farms and tech. Going to take Govts, MDBs, investors and the rest to coordinate in some fashion

This a bad but predictable outcome. Will be worse in developing countries. Investors need to be engaging proactively with policy makers to push them to move faster of climate impacts and emissions mitigation rather than reactive withdrawal of capital.

www.afr.com/markets/debt...

This is fair, and I am in part sounding off because we let it get this late and now will pay for it (literally) in the most inefficient and wasteful way. Agree seeing full report is always highly preferably to glimpses, but its being dripped out for a reason (i.e. to soften ground)

This of course is what a disorderly transition looks like. Government's have the levers to try bring some order to what is inevitable. But continuing to put off your homework and fiddling at the margins ain't going to cut it.

The fact our "best" response to potential supply issues in coming years is to use public money to subsidise coal power is embarrassing. No exploration of energy efficiency and demand management options? No harder intervention to assist renewable build?

www.smh.com.au/politics/nsw...

‘Way off the pace’: Just four green energy projects reached sign-off Commitments to building new wind and solar projects are less than half of what is needed to reach 2030 targets, Clean Energy Council figures show.

Deeply troubling. There's been too much back patting about market inevitability of the energy transition. Stalling renewable build a consequences of a decade of inaction and a public sector still unwilling to take scale of action needed to hit net zero.

www.afr.com/companies/en...