Australian Prime Minister Refuses Coal Phase Out Commitment

BY  
Seneca ESG  
- September 27, 2021

Australian Prime Minister Scott Morrison declined to commit to a national coal phase-out, as reported by Reuters on September 26. At an interview following a summit at Washington, the Prime Minister said that emissions reduction plans were still in the works, and that he would not pull back any fossil fuel industries immediately. Keith Pitt, Australia’s resources minister, said on September 6 that coal would remain a major contributor to Australia’s economy well beyond 2030 given growth in global demand, and called reports of the end of coal’s era greatly exaggerated.

Australia is the world’s top coal exporter, with the nation accounting for 6% of total annual production globally. The country is the fourth largest producer behind China, India, and Indonesia, and the third largest emitter on a per capita basis. On September 24, the International Monetary Fund (IMF) called on Australia to set time-bound targets on achieving net zero emissions. The Prime Minister previously expressed that it was in the government’s interest to get to net zero by mid-century, but no formal commitment has been announced.

As the COP26 UN climate conference draws close, Australia is facing increasing international pressure to declare net zero goals. In a virtual speech at the UN General Assembly on September 25, the Prime Minister said that he would release long-term emissions reduction strategy before the COP26 in November. The speech highlighted Australia’s ambition to combat climate change through technology and help neighboring developing countries to do the same. However, the speech fell short of expectations to declare any national commitment towards net zero.

Sources:

https://www.reuters.com/world/asia-pacific/australian-pm-refuses-commit-phasing-out-fossil-fuels-2021-09-26/

https://www.canberratimes.com.au/story/7417243/government-hits-back-over-coal-phase-out/

https://www.sbs.com.au/news/australia-will-help-regional-neighbours-combat-climate-change-with-technology-pm/3b5d0900-2b54-43f5-90e3-0eda9a01b977

https://www.reuters.com/world/asia-pacific/australia-should-do-more-contain-housing-bubble-climate-change-imf-2021-09-24/

立即開始使用 Seneca ESG 工具包

監控投資組合 ESG 表現,自建 ESG 框架,讓商業決策更精準。

Toolkit

Seneca ESG

有興趣?立即聯絡我們

請填寫右側表單,或直接郵件聯絡我們:

sales@senecaesg.com

新加坡辦公室

7 Straits View, Marina One East Tower, #05-01, Singapore 018936

+(65) 6223 8888

巴塞隆拿辦公室

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

台北辦公室

台灣台北市大安區敦化南路二段77號7樓,106414

(+886) 02 2706 2108

利馬辦公室

Av. Santo Toribio 143,

San Isidro, Lima, Peru, 15073

(+51) 951 722 377