New climate laws emerge across the globe, banks hit the breaks on fossil fuel, and long-discussed changes announced at Energy Minister’s meeting. All that and more in this month’s good news in climate solutions.
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Australian Government’s climate bills edge towards becoming law
The Australian Government’s Climate Change Bills have passed the House of Representatives and look likely to pass the Senate in September. Read more about what’s in the laws and what they mean, or access our submission to the Senate Inquiry into the bills.
Energy Ministers partner on energy transformation
Australia’s Energy Ministers agreed on important steps forward for the domestic energy system at a meeting this month, including an agreement to include emissions reductions in the National Electricity Objective (NEO). Read an explanation by Climateworks chair John Thwaites on the difference this change could make, or catch up on Climateworks’ Anna Melos’ thoughts on the importance of the newly-announced National Energy Transformation Partnership.
Banks hit brakes on fossil fuel finance
Bank Australia will stop offering loans for new fossil fuel cars from 2025 in a step it says will encourage more people to buy electric vehicles, writes The Guardian’s Adam Morton. And Westpac will reduce lending to coal, oil and gas companies by nearly a quarter by 2030, reports Reuters.
It’s not just the banks moving away from financing fossil fuels — industry super fund NGS Super has expanded investment restrictions on fossil fuel producers to include companies in the oil and gas production and exploration sector, writes Pro Bono Australia’s Samantha Freestone.
Meanwhile, new research commissioned by the National Australia Bank sets out an ambitious economic roadmap to guide the country to a net zero economy by 2050 — hear NAB CEO Ross McEwan discuss it with Patricia Karvelas on RN Breakfast.
Electric car batteries lasting longer than expected
Recycling programs for electric vehicle (EV) batteries have been delayed for the best reason possible — they’re mostly still powering cars. Electric cars have sophisticated battery management systems that guard the long-term health of their batteries, and there’s an industry expectation that the batteries should outlive the cars themselves, writes Forbes’ Carlton Reid.
Australia’s first National Electric Vehicle Summit showed country ready to move out of the slow lane on EV uptake
At the summit in August, the Energy and Climate Change minister announced plans for a discussion paper to develop an EV strategy and explore “options for the introduction of fuel efficiency standards”. Read more in The Guardian, The Sydney Morning Herald and AFR.
US climate legislation passes
Scientists around the world have welcomed US legislation which pledges US$369 billion in climate investments over the next decade, writes Nature’s Gayathri Vaidyanathan. Among other things, the bill eliminates the cost gap between green and dirty hydrogen, writes RenewEconomy’s Giles Parkinson.