Nov-21 Energy Market News

EnergyByte -

This will be our last Market News report for the year, so we wish you and your family all the best for the Festive Season, and look forward to another charged year in the energy sector.

Climate

  1. India, China, Russia kill climate deal (2 Nov) Russia, India and China have been accused of failing to grasp the urgency of climate change by Britain and the United States at the G20 summit
  2. Climate tech experts reject Morrison's "colossal piece of obfuscation" (2 Nov) Leading climate technology experts have warned Scott Morrison that future technology should not be expected to solve the nation's climate change problems
  3. NAB puts climate target on its back (10 Nov) National Australia Bank has highlighted the need to support fossil fuel production whilst balancing its commitment to achieving 2050 net zero in its new policy
  4. "Mountain to climb" admits COP26 chief as talks reach crunch point (10 Nov) If the 197 countries at the Glasgow COP26 summit are to make a meaningful dent in climate change they have "a mountain to climb" according to host nation Britain
  5. PM pledges $1b tech fund to help reach net zero (10 Nov) A new fund established by the Morrison government has pledged up to $1 billion in co-investment to develop low-emissions technologies
  6. Draft COP26 agreement text calls on countries to strengthen 2030 targets by next year (11 Nov) If the draft COP26 agreement is accepted at the end of the Glasgow summit, Australia could be pushed to strengthen its 2030 emissions reduction targets by the end of next year
  7. US, China shock COP26 with joint climate action pact (11 Nov) In a surprise show of solidarity and co-operation, China and the United States have announced a joint initiative at COP26 to deliver enhanced climate action in the next 10 years
  8. COP26: Australia to block phase out of coal and subsidies for fossil fuels in final text (12 Nov) Saudi Arabia, Russia and India have received support from Australia at the COP26 summit, joining to reject plans to accelerate the phase out of coal and subsidies for fossil fuels
  9. Chevron buys credits to offset Gorgon carbon shortfall (12 Nov) After failing to hit a five year target buying enough carbon for its Gorgon LNG project, Chevron will spend $40m on low carbon projects in Western Australia
  10. Second COP26 draft agreement softens language on coal and fossil fuel reduction (12 Nov) The release of the second draft of the COP26 agreement has seen a watering down of commitments to reduce the use of coal and other fossil fuels
  11. Nations reach climate deal at COP26 after compromise on coal (14 Nov) A revised deal at the UN COP26 climate change conference has been accepted by government negotiators from nearly 200 countries
  12. Coal compromise disappoints in last-minute COP26 deal (15 Nov) Following a last minute pitch by India and China to dilute a pledge on phasing out coal, the 197 countries backed a "Glasgow Climate Pact" at the COP26 summit
  13. Coal miners say Glasgow pact strikes a balance (16 Nov) A COP26 pact to "phase down" unabated coal-fired power generation strikes a good balance according to Australian coal miners
  14. China doubles down on a slower coal exit after Glasgow spat (17 Nov) Despite watering down demands for action at the COP26 climate summit, China has extended its defence of the future of coal asking for consideration for countries who experience an energy shortfall
  15. Big bio-energy boost "to fuel a $10bn boom" (19 Nov) A new ARENA road map believes that a domestic bio-energy and green fuels boom would slash 9 per cent of emissions and boost the economy by $10 billion
  16. Australia's de-facto carbon price hits $40/t as international markets take off after COP26 (23 Nov) The international carbon market is experiencing record high prices in both compliance and voluntary markets as a result of agreements on rules for cross-border co-operation
  17. Farmers on knifes edge over La Nina (24 Nov) A second consecutive La Nina event has Australian farmers on edge with the threat of heavy rains and the risk of flooding and cyclones forecast into January and beyond
  18. BOM summer outlook: it will pay to check for floods before setting out this summer (25 Nov) Wetter than average conditions are forecast for parts of the east coast of Australia this summer, according to the Bureau of Meterology
  19. Australia's greenhouse emissions fell 2c in past year on coal decline (29 Nov) Australia's emissions have fallen by 20.4 per cent since 2005 according to new data released by the National Greenhouse Gas Inventory
  20. Big businesses to reveal emissions results (29 Nov)As part of a push for greater transparency around corporate climate change, Woodside and Coles will join nine major Australian construction, finance, retail and resource companies in publicly reporting emissions reduction results