Further statements from regulators and commentators reinforce the expectation that businesses will consider the materiality of climate change-related risks and disclose them accordingly. The obligations are not new, but rather the expected nature of action to satisfy existing obligations continues to evolve in relation to climate change. The expectations of financial services businesses in this … Read more

Over $1.1 billion committed for hydrogen, CCS/CCUS and international technology partnerships. Read more

Victoria joins New South Wales and Queensland in decentralising the path towards “Net Zero”, setting out a roadmap for development of its renewable energy zones (REZ), including the establishment of VicGrid to oversee planning and development, and allocating a $540 million REZ Fund in the State Budget. Read more

Professor Graeme Samuels has released the Final Report on the Independent Review of the Environment Protection and Biodiversity Conservation Act 1999 (Cth) (EPBC Act), finding that Australia’s ‘current environmental trajectory is unsustainable’ and that the ‘EPBC Act is ineffective’. The Final Report proposes wide-ranging reforms, including the introduction of legally enforceable National Environmental Standards (NES), … Read more

The importance of a robust and fit-for-purpose greenhouse gas emissions assessment during environmental impact assessment under Part IV of the Environmental Protection Act 1986 (WA) was recently highlighted by appeals against the EPA's assessment of the Pilbara Energy Generation Power Station project. Read more

Our prediction: The legal landscape is shifting away from being a roadblock to investment and towards facilitating upward momentum in the development space. Read more

On 30 November 2020. the Western Australian Government released the long awaited ‘Western Australian Climate Policy: A plan to position Western Australian for a prosperous and resilient low-carbon future’. Read more

The settlement this week of Mr McVeigh’s proceeding against REST has underlined management of climate risk and TCFD-aligned disclosure as growing issues for institutional investors. Other recent developments include a further post-approval challenge to a coal mine, asserting that new expert evidence regarding climate change impacts on the Great Barrier Reef should be taken into account to revoke the approval decision and prosecution for import of synthetic greenhouse gas where a single offence attracted an agreed penalty of $500,000. Read more