THE Carbon Market Institute saw the 12th auction under former Prime Minister Tony Abbott’s Emissions Reduction Fund (ERF) -- with $108 million results announced -- as marking a turning point in federal climate policy.

Carbon Market Institute CEO John Connor said,  “Let’s hope this is a turning point for a more evolved and sophisticated approach to carbon markets by the Morrison Government under stronger market driven climate policy that leads to more ambitious 2030 and 2050 goals.”

Mr Connor said a similar size auction due in September later this year will need to draw on PM Morrison’s Climate Solution Fund commitments of just under $2 billion over the next 15 years.

He said the average $15.99 carbon price in this auction is lower than the spot market prices of around $18 that Australian companies are paying in voluntary or compliance emissions trades.

“The ERF became a lifeline to carbon and some other emission reduction activities after the Gillard government’s emissions trading scheme was removed,” Mr Connor said.

“The Morrison Government has begun making some welcome pragmatic changes to the Emission Reduction Fund carbon market, and is seeking to expand accessibility. We continue to recommend strengthening the safeguard mechanism so emission intensive businesses become the primary funder cutting emissions rather than the taxpayer.

“The safeguard mechanism already requires most major emitters measure and manage their emissions, and make compliance investments if they exceed set baselines. Those baselines could, with appropriate reforms, be aligned against strengthened 2030 and 2050 Australian climate goals that provide clearer investment guidelines for business transitioning to net-zero emissions,” Mr Connor said.

“US President Joe Biden’s Summit has shown us all that Australia will need to do more on climate change if it wishes to avoid penalties put in place by our trading partners -- such as carbon border adjustments that are looming in Europe and Japan.”

About the Carbon Market Institute

The Carbon Market Institute is an independent industry association for businesses leading the transition to net zero emissions. Its members include primary producers, carbon project developers, Indigenous corporations, legal and advisory services, insurers, banks and emission intensive industries developing decarbonisation and offset strategies.

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THE Australian Small Business and Family Enterprise Ombudsman Bruce Billson said today’s decision by Australia Post to continue shipping perishable goods across the country will bring joyful relief to small business food producers.

Mr Billson has welcomed the invitation to co-chair an industry working forum, which will work collaboratively to resolve any issues Australia Post is experiencing across its delivery network, to support small business food producers.

“I look forward to working closely with Australia Post and all relevant stakeholders to ensure small businesses can continue to count on these essential delivery services,” Mr Billson said.

“Small business food producers, especially those in regional areas, are breathing a huge sigh of relief today that they can continue doing what they do best – growing their business – with confidence that their goods will be delivered by Australia Post.

“Australia Post has positioned itself as the delivery partner to small businesses and family enterprises, particularly to those businesses that moved to selling their products online as a result of the COVID crisis.

“This partnership has benefited both sides of the relationship and consumers," Mr Billson said.

“It was not right to unilaterally declare an end to vital delivery services to the detriment of these small businesses and the customers who depend on them. Australia Post is doing the right thing for its small business customers by reversing this decision.

“Now is the time to be working together to identify what the problems are and to find solutions to make a pathway forward.

“Let’s roll up our sleeves so that we can achieve a much better outcome for e-commerce powered small businesses who rely on Australia Post to fulfil their orders.”

The Ombudsman will meet with Australia Post next week and then again with the broader industry group in May. Mr Billson will collaborate closely with his state-based Small Business Commissioner colleagues to ensure their valuable perspective and regulatory insights are part of the problem-solving approach.

Regular sessions will be held with key regulatory bodies, government agencies and e-commerce representatives to work towards a resolution on this important issue.

www.asbfeo.gov.au

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ALL EYES are on exploration in Queensland this week, with a second announcement from the State Government that supports the future development of Queensland’s mineral wealth. 

Yesterday’s opening of the fifth round of funding through the Collaborative Exploration Initiative was followed by today's public release of new and historical exploration data that will help explorers in their quest for the next big discovery. 

Queensland Resources Council (QRC) chief executive Ian Macfarlane has welcomed the announcement by Resources Minister Scott Stewart in Parliament that almost 20,000 new exploration reports spanning the past 50 years are now publicly and freely available. 

“Today’s announcement places Queensland firmly in front of competing resources jurisdictions,” Mr Macfarlane said.

“Both the QRC and our exploration arm, the Queensland Exploration Council (QEC), have been advocating for many years for the government to provide access to this information, most recently in our 2020 QRC Streamlining Report,” he said. 

“Combined with 60,000 existing reports, the expanded database will be a boon for our explorers and should further lift investment in exploration activity in Queensland. And it couldn’t be a timelier boost for the resources sector to maintain its vital role in economic recovery during and after the COVID pandemic.” 

QEC chair Kim Wainwright said access to pre-competitive geoscience data is a key driver in growing exploration activity. 

“This data release will contribute significantly to discoveries of the mineral and gas resources required to meet the world’s transition to a low-emission economy,” Ms Wainwright said. 

“Much of this data has never been made publicly available before, so it is a momentous collaborative achievement by the resources sector and the Queensland Government to get to this day.” 

The QEC's annual Exploration Scorecard shows that pre-competitive geoscience data is highly valued amongst the state's explorers, with nearly half placing it as one of the top three government initiatives beneficial to their business in 2020. 

Click here to view the Geological Survey of Queensland Open Data Portal.

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THE QUEENSLAND Resources Council (QRC) has welcomed the Federal Government’s announcement of a further $539.2 million in funding for new emissions reduction projects, calling it a necessary and pragmatic step towards helping Australia meet global emission targets.

QRC chief executive Ian Macfarlane said climate change is a critical global challenge and the resources sector, as Queensland’s largest export industry - was heavily invested in finding a responsible solution.

“QRC members are actively pursuing and investing in emission reduction initiatives to reduce their carbon footprint, so these new Commonwealth funds will help accelerate that progress,” Mr Macfarlane said.

“It’s also great to see the Federal Government recognise the sequestration opportunities available in Queensland like the work that Glencore and Millmerran Power Station are doing near Wandoan.

“With 60 percent of our member CEOs currently considering hydrogen-related business opportunities, and a further 10 percent already committed to hydrogen projects, the news of this federal funding will be well received across our sector," he said.

“Resources companies are heavily reliant on technology, so investing in low emission technologies like hydrogen and carbon capture use and storage (CCUS) helps position our sector as a sustainable and innovative resources powerhouse, and cements future opportunities for Queenslanders.”

Mr Macfarlane said the QRC looked forward to continuing to work constructively with the State and Federal Governments to provide the technological solutions necessary to ensure the resources sector can thrive while Australia meets its emissions reductions targets under the Paris Agreement and beyond.

He said Queensland already has a range of hydrogen projects and studies underway such as Origin’s green hydrogen export project in Townsville and Stanwell’s renewable hydrogen export facility in Gladstone, with more projects expected in the future.

A number of QRC member companies are also involved in researching how to decarbonise their operations:

• Anglo American has been working with global energy company ENGIE to develop the world’s largest hydrogen-powered mine haul truck, which is expected to match or exceed the performance of its diesel equivalent with the benefits of cleaner air, less noise and lower maintenance costs; 
• Glencore’s Raglan nickel mine in northern Quebec has run on a micro-grid powered by an Arctic-rated wind turbine generator connected to a hydrogen energy storage unit since 2015; 
• Anglo American, BHP and Fortescue have formed a Green Hydrogen Consortium to look at ways to use green hydrogen to decarbonise their operations globally.

Mr Macfarlane said Gladstone was well suited to being one of several ’clean hydrogen hubs’ across Queensland because of its long history of building new export industries to service international demand for commodities such as coal, aluminium, timber and LNG.

“Much of the engineering expertise necessary for a hydrogen industry is already available in Queensland because of all the work that’s been done to build LNG projects on Curtis island, “ he said

Mr Macfarlane said Queensland is ideally suited to support a thriving hydrogen export industry with 300-plus days of sunshine a year, close proximity to large Asian export markets and a history of co-existing with other regional industries.

“The resource sector also has the essential skills base and strong safety culture that can drive the state’s hydrogen sector forward on a large scale, and position Queensland as a leading producer of this emerging renewable technology,” he said.

For more details read the QRC’s latest State of the Sector report.

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