Skip to main content

Business News Releases

Committee supports Australia's contribution to IMF for COVID-19 fight

A FEDERAL parliamentary committee has recommended Australia commit to the International Monetary Fund’s (IMF’s) reform proposals to better combat the global economic impact of COVID-19.

Report 191, released today by the Joint Standing Committee on Treaties, supports three treaties that will give the IMF access to the funds it needs to support countries dealing with the severe economic downturn that has accompanied the pandemic.

Two of the treaties involve the direct transfer of a portion of Australia’s commitments from the third line of defence supporting IMF lending, called ‘bilateral loan agreements’, to the IMF’s second line of defence, called the ‘New Arrangements to Borrow’.

The third treaty is a commitment by Australia to the IMF’s Poverty Reduction and Growth Trust.  The Trust is already involved in supporting the COVID-19 response in lower income countries by providing the funds to purchase necessary medical equipment.

The treaties do not involve additional financial commitments by Australia.

“COVID-19 has had a massive global economic impact, and this is being felt in Australia. For Australia’s sake, we need to be doing all we can to support global economic recovery, and these reforms to the IMF will help do that,” Committee Chair Dave Sharma MP said.

In addition, the Report details the Committee’s support for a minor amendment to the Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade.

ends

  • Created on .

QRC welcomes CopperString 2.0 to power North West Minerals Province jobs

THE Queensland Resources Council has welcomed the Queensland Government’s announcement today of an implementation agreement for the proposed CopperString 2.0 high voltage 1100 km transmission line to the North West Minerals Province.

QRC chief executive Ian Macfarlane said the progress of CopperString 2.0 was part of the Resources Industry Recovery Agenda presented to the Government by QRC-AMEC in June.

“The North West Minerals Province is a key area of development for Queensland’s resources sector and its development will help deliver the strongest possible recovery from COVID-19,” Mr Macfarlane said.

Mr Macfarlane said the Queensland Government’s announcement of an implementation agreement follows the Australian Government’s commitment in its Budget last night to provide funding to progress a final investment decision for the project.

“The QRC, as the peak representative for the state’s coal, metals and gas explorers, producers and suppliers, was involved in the development of the State Government’s Strategic Blueprint for Queensland's North West Minerals Province,” he said.

The Blueprint highlighted: “Common user infrastructure provides the opportunity to drive down development costs for individual projects, with multiple users contributing to the development of, and benefiting from key forms of infrastructure required for mining and other projects. This may include transport infrastructure such as road, port and rail, utilities such as electricity, gas and water, or other types of minerals processing infrastructure”.

“Energy costs for the existing mineral producers in the region are amongst the highest in Queensland,” Mr Macfarlane said.

“CopperString 2.0 also promises to unlock some of Queensland’s most prospective renewable energy generation sites.”

www.qrc.org.au

ends

  • Created on .

Committee meeting to focus on the national capital

THE Joint Standing Committee on the National Capital and External Territories will be briefed tomorrow by the National Capital Authority about issues relating to the nation’s capital.

The re-scheduled briefing will be broadcast live on the Parliament House website.

Committee Chair, Anne Webster MP said: “The Committee welcomes the opportunity to hear from the National Capital Authority about its role as custodian of the National Capital Plan and caretaker of the special character of Canberra as the nation’s capital.

“The Committee looks forward to discussing a range of matters during the briefing and being updated on the latest developments,” Dr Webster said.

Further information may be found on the Committee’s website.

Public hearing details

Date: Thursday 8 October 2020
Time: 11am to 11:45am

The hearing will be broadcast live at aph.gov.au/live. Due to the COVID-19 pandemic, committee hearings are not presently open for physical attendance by members of the public.

ends

  • Created on .

Inquiry into food insecurity in remote Indigenous communities holds additional hearings

THE INQUIRY into food pricing and food security in remote Indigenous communities is holding further public hearings this week on Thursday October 8 and Friday October 9.

The Eon Foundation will be appearing on Thursday and the National Indigenous Australians Agency (NIAA) will appear on Friday, followed by Outback Stores.

Julian Leeser MP, Chair of the House of Representatives Indigenous Affairs Committee, said the Eon Foundation would provide valuable insights into local food production in remote areas and that the Committee looked forward to continuing its discussions with NIAA and the Commonwealth-owned Outback Stores, who appeared previously for the inquiry in June, on possible solutions to food insecurity in remote First Nations communities.

“Market gardens and other avenues for remote food production have had mixed success in the past. We look forward to discussing this with the Eon Foundation who provide nutrition and horticulture education and training to 37 communities across Western Australia and the Northern Territory," Mr Leeser said.

“Our second hearing this week with the NIAA and also with Outback Stores will allow us to further explore some practical responses and possible policy solutions to the food insecurity issues facing many Indigenous people.”

The witnesses will be appearing by videoconference or teleconference due to social distancing requirements relating to COVID-19. Full programs are available from the inquiry website.

Public hearing details

Date: Thursday, 8 October 2020
Time: 11.45am to 12.30pm AEDT
Location: Via video and teleconference

Date: Friday, 9 October 2020
Time: 9.30am to 11.45am AEDT
Location: Via video and teleconference

Audio broadcasts will be accessible at aph.gov.au/live.

ends

  • Created on .

Consumer Engagement Award finalists announced

ENERGY NETWORKS putting customers at the centre of their business have been shortlisted for the 2020 Consumer Engagement Award. Shortlisted organisations include Australian Gas Infrastructure Group, AusNet Services, Evoenergy and Jemena Electricity Network.

Energy Consumers Australia Interim CEO Lynne Gallagher said the 2020 entries showed networks were taking steps on a range of engagement activities, demonstrating the maturing of consumer engagement within many businesses.

“We are seeing an uplift and commitment to working directly with customers by many network businesses, exploring new ways to deepen engagement and collaboration with consumers in the face of new challenges such as COVID-19 and extreme weather events,” Ms Gallagher said.

“The award shines a light on best practice engagement activities across the energy network sector and we hope many of these good practices become common practice by sharing knowledge across the sector.”

Energy Networks Australia CEO Andrew Dillon said the consistently high standard of entries to this year’s awards showed continual improvement by networks in their engagement practices.

“It is encouraging to see how every year networks are stepping up with new projects and engagement to deliver improved services and benefits to customers,” he said.

The winner will be announced in October. All 15 nominations will be published in a report to celebrate the consumer engagement work being done by energy networks across the nation.

The reports from last years' nominees can be accessed in the Consumer Engagement report. 

www.energynetworks.com.au

ends

  • Created on .

More Articles …