Regions face heavy job losses unless Australia steps up the energy transition

The week opens with new polling data showing the Morrison Government is facing an ‘electoral wipeout’. Expect a flurry of sudden announcements in coming weeks in line with Friday’s $1bn drop on funding for the Great Barrier Reef, which aims to improve ‘water quality’ but neglects to deal with the Reef’s greatest threat, climate change.

New data shows that several Australian regions face heavy job losses due to waning global coal demand, unless Australia steps up to manage the transition to a low-emissions economy, and coal miner Peabody has been caught out telling porkies about its emissions.

And EV sales are finally shifting up a gear, more than tripling over the past year, as rebates, discounts and escalating petrol prices drive consumers towards electric.

New data shows that several Australian regions face heavy job losses due to waning global coal demand, unless Australia steps up to manage the transition to a low-emissions economy, and coal miner Peabody has been caught out telling porkies about its emissions.

And EV sales are finally shifting up a gear, more than tripling over the past year, as rebates, discounts and escalating petrol prices drive consumers towards electric.

EV boom: ‘Australia should be an electric vehicle leader’
Sales of new electric cars in Australia have more than tripled in the past 12 months, growing to more than 24,000 off the back of state government rebates, discounts and a more competitive domestic market driving down prices.

‘Aggressive and proactive’: Fund manager ‘green shorts’ AGL, Qantas
A Sydney fund manager is short-selling stocks in energy giant AGL and national airline Qantas as part of a controversial investment strategy known as ‘green shorting’, marking the start of a more aggressive approach to sustainable finance in Australia.

Australian regulator finds large-scale emissions misreporting by coalminer Peabody
US coalmining giant Peabody Energy has repeatedly submitted incorrect greenhouse gas emissions reports to the Australian government, prompting questions about the reliability of national climate data based on company assessments.

Net zero brings uneven job losses: report
Australia will lose hundreds of thousands of jobs, mostly in a handful of regions, if it fails to make the changes required by our emissions-busting trading partners, a report warns.

More time to debate carbon credit farm veto plan
The Morrison government has extended debate over a controversial plan to give the Nationals veto powers over farmers who want to use their land to generate carbon credits, with critics warning it will needlessly drive up the cost of decarbonising the nation.