With the new Labour Government in place investors are now carefully considering what the new political consensus in the UK could mean for the energy transition. Commenting in Net Zero Investor Pollination’s Head of EMEA Patrick Suckling believes the election results could trigger significant progress on the road to net zero: “This landslide win provides the strongest possible mandate for change, where the incoming government has already made clear that one of the most transformative changes will be to end the backsliding on the UK’s journey to net zero, not least powering the nation with clean renewable energy. With over 90 per cent of global GDP committed to this journey, that is where the UK’s future lies,” he stressed. Read more: https://lnkd.in/egMpXHGv #energytransition #netzero
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Immense opportunities and incentivising investment. How might the new government garner greater #NetZero get-go? A fascinating insight from Mona Dohle in Net Zero Investor earlier this week on how to power-up private sector interest in Net Zero infrastructure. Writing on the approach outlined by new Secretary for Energy and Net Zero, Ed Miliband, they flag the fierce new formula to "double onshore wind, triple solar power and quadruple offshore wind capacity. " as showing potential stability for businesses to get behind on their #NetZeroTransition. Also noting that Pollination Managing Director Patrick Suckling believes support for the new greener government could "trigger significant progress on the road to net zero". So the question remains, where would new investment best cultivate confidence for your organisations #NetZeroJourney? Do you agree that a new office for delivering Net Zero would be a benefit for businesses unlocking opportunities? Does your organisation want to slash it's #Scope3Emissions and zero-in on Net Zero? Get in-touch with the specialists at GreenBridge Associates! Let us know your thoughts below and find the full article here: https://lnkd.in/egMpXHGv #ClimateChange #ClimateResponsibility #Government #Business #NetZero2030 #Investment
Investors eye energy transition opportunities in the wake of Labour landslide
netzeroinvestor.net
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"This Budget was meant to signal to our community that government is serious about investing in us. It was an opportunity to share some of the resources being heavily targeted toward industry and proponents, and to go some of the way to address the power imbalance that exists between industry and First Nations. And it was a moment to implement some of the solutions we have been advocating for around affordability to address energy security. Instead, with this Budget, the government has locked in the economy of the future while replicating the dynamics of the past, including adversarial relationships, delay, unnecessary cost, and impacts on Country" First Nations Clean Energy Network + Karrina Nolan are rightly infuriated at the failure by the Australian government to give Indigenous Australians what they're due in the #budget2024 The most generous cash seems to be flowing towards the mining and energy companies, many of whom are directly and brazenly responsible for injustice, destruction and wrongdoing in Australia. https://lnkd.in/dB99MUsw
First Nations energy exclusion hurts Australia's global emission target
nit.com.au
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HOW WILL UK GREEN GROWTH PLAY OUT? With The Labour Party Party forming the new UK government following the #GeneralElection last week, those interested in #sustainability will be interested in how the promises of the manifesto translates into physical action. There already was a diversity of opinion about a #GreenAgenda, from sceptics and deniers, to evangelists and everywhere in between. Interestingly there’s less disagreement about the more political aspects of #EnergySecurity not least as a result of the invasion of Ukraine and the fallout of the situation in Palestine. The mitigation however has delivered different answers from pumping more oil from the #NorthSea, to accelerating #renewable #energy generation. Opponents of the “more oil” lobby point out that N Sea oil goes into a regional/global market, and not directly into the UK, most going to refineries on the European mainland and elsewhere. Those supporters of sustainability highlight that building the #infrastructure IN the UK mean less dependency OUTSIDE the UK. One area that has been addressed very quickly is the removal of the moratorium on #OnshoreWind development. This is the #sustainable #energy part of sweeping changes to infrastructure planning in general. The halt was placed some years ago as local opposition (AKA #NIMBY) to turbines won support in Westminster. With the last government rolling back commitments, there is a loud call going out to pull the timetable forward, back to the original dates and more. Other areas being focussed on are #solar, not least using acres and acres of commercial rooftops to create electricity locally (#LocalPowerPlan), more insulation help, reversal of the #ICE end date and accelerating #EV and other alternatives, and questions about #HS2 (which the Chancellor Rt Hon Rachel Reeves less than an hour ago stated would not be reinstated until the funding for it can be found). The new government’s commitment on appearing and demonstrating #FiscalResponsibility is underlined by the apparent drive to create growth in the green sector, to provide new jobs in country, and reduce cash going out of the country to pay for energy, thereby being able to fund new waves of investment. It’s going to be interesting to watch how this unfurls. https://lnkd.in/eDFtEi3A
Labour win a 'landslide for green economy’
renews.biz
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Whilst this announcement is laudable and demonstrates a greater commitment to the UK’s transition to Net Zero than the Conservative government, is this the most impactful allocation of limited resources? As a comparator, I would be keen to see a full economic analysis of the benefits of allocating this £8.3bn to addressing the UK’s grid capacity constraint problem instead. Much needed investment in the grid will (i) unlock more renewable development (ii) potentially resulting in lower consumer bills and (iii) on the demand side, mitigate the economic drag of C&I expansion being curtailed because of a lack of grid capacity
Labour says GB Energy will fix cost-of-living crisis with clean power
independent.co.uk
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“Investment into energy transitions and infrastructure will help mitigate potential price shocks, reduce reliance on Russian gas, and stimulate economic growth, similar to impact of the US inflation Reduction Act…We want to see decisive actions and clear commitments from the new Labour government regarding the energy transition.” Adam Macdonald, Managing Director – Centrus Read the full article in Professional Wealth Management (PWM): https://lnkd.in/gY-v8YHJ #FinanceWithPurpose #RenewableEnergy #EnergyTransition
Post-election green agenda boosts investment prospects - Professional Wealth Management
pwmnet.com
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Good news! It seems this government's PM and Treasurer may not waste their shot by fiddling in the margins of Australia's #energy and #decarbonisation policy. The Australian Financial Review has the drop of a speech tonight in the #Hunter #NSW region and is reporting: "The Albanese government is planning a “think big” multibillion-dollar initiative to try to compete with the United States’ $624 billion Inflation Reduction Act and similar schemes elsewhere, in a bid to drive the domestic development of clean energy technology. In a speech to be delivered in Newcastle on Friday evening, Prime Minister Anthony Albanese will argue that if Australia is to become a renewable energy superpower, “the government has to be a partner in this, not just an observer”... “... Converting our natural resources into national strengths, and ensuring that, here on the doorstep of the fastest-growing region in the world in human history, we are not just on the outside looking in [but] we are engaged and involved." Climate Capital Forum has been calling for this kind of thinking for 18 months. As we note in our pre-budget submission, a visionary public policy shift is required, setting the right market signals and leveraging the national balance sheet. This would unlock and crowd-in private capital enabling large-scale investment to ensure Australia seizes the economic and employment opportunities from being a renewable energy and critical minerals superpower. We look forward to reading the details as they emerge. https://lnkd.in/gZgRR5xT
‘Think big’: PM plans cash splash on green fund
afr.com
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Ahead of the UK General #Election on 4th July, the #Labour party has outlined its “Missions,” with 𝗖𝗹𝗲𝗮𝗻 𝗘𝗻𝗲𝗿𝗴𝘆 being one of the key points. 🌹 💡 🍃 Central to this is the creation of 𝗚𝗿𝗲𝗮𝘁 𝗕𝗿𝗶𝘁𝗶𝘀𝗵 𝗘𝗻𝗲𝗿𝗴𝘆, a publicly owned clean power company funded by a windfall tax on oil and gas companies. There are questions as to how a government-run company might operate – not to mention compete – in the deregulated markets, and the potential economic, regulatory, and policy issues this might create. Reliance on a windfall tax for long term funding is also a risky proposition, given the dynamic nature of the #energy markets. It would be expected that the full manifesto will address these matters in greater detail. Labour's 𝗚𝗿𝗲𝗲𝗻 𝗣𝗿𝗼𝘀𝗽𝗲𝗿𝗶𝘁𝘆 𝗣𝗹𝗮𝗻 also includes a 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗪𝗲𝗮𝗹𝘁𝗵 𝗙𝘂𝗻𝗱 to invest in infrastructure, most notably #renewables, #ports, #gigafactories, and #hydrogen. By reinforcing these key areas, Labour anticipates that as many as 500,000 new jobs will be created. However, details on the fund's distribution and operation remain unclear, including its relationship with Great British Energy and the role of private investment. Labour aims for 𝗖𝗹𝗲𝗮𝗻 𝗣𝗼𝘄𝗲𝗿 𝗯𝘆 𝟮𝟬𝟯𝟬, promising increased energy independence and reduced energy bills, though the short-term impact on households and businesses and the potential need for increased #taxes are currently uncertain. For further updates and insights, follow L&C Utility
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Big changes in the UK as the country has woken up to a landslide victory by The Labour Party in the general election. There'll be plenty of discussion about this today no doubt, but good to see Greg Jackson from Octopus Energy sharing his views on BBC News just now. He's positive that a large Labour majority will help with the delivery of new renewable energy infrastructure. He said: "One of Labour's five missions was about green growth. It's really important that voters backed this idea that we can deliver cheaper, greener energy by investing in it, so I think a stable business environment, a stable political environment, will help release capital in our sector." He added that a key priority for Labour would be to change the planning system to make it easier to build renewables and other infrastructure. "What Labour needs to do now is hit the ground running with things like planning reform so we can build this infrastructure. There's hundreds of billions of pounds ready to invest in the UK. We just need to do it," he said. Jackson added that The Conservative Party's attempts to turn net zero policies into a culture war has failed. We reflected on what a Labour win would mean for the wind industry in the UK a few weeks ago. Click here: https://lnkd.in/e39BSDGN #onshorewind #offshorewind #renewableenergy #investment A Word About Wind | Energy Storage Report | Tamarindo
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It would be fascinating to map out energy policies, progress on decarbonisation and the impact of GDP and trade for different countries over the next decade..... maybe I can get AI to do it.... anyway another one to note: The new UK government want to achieve a zero carbon power system by 2030 and become a green energy super power. https://lnkd.in/gAc4vhhx
New Labour government: is the UK back in the race to net zero?
sustainablefutures.linklaters.com
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“Over 60% of Australia's now super-funded critical minerals and hydrogen projects, and the vast swathes of land needed for solar and wind to run those projects, are on land/sea where First Nations have legal rights and interests” We urgently need strategies for an inclusive renewable transition that protects cultural and natural heritage.
The Australian Government has once again kicked the can down the road, locking First Nations out from participating in the economy. That’s Karrina Nolan talking, co-Chair of the First Nations Clean Energy Network. Karrina says there's two significant pieces missing from the Federal government's 2024 Budget. The first is certainty. Investors need certainty to invest. Financiers need certainty to lend. Project proponents need certainty to develop. Communities need certainty to consent. Well-designed government legislation, policy and frameworks can deliver the necessary certainty for clean energy projects to proceed. Legislation that recognises free prior and informed consent, the right to negotiate, land/sea tenure, water rights, cultural heritage and environmental protection would provide that certainty, if it existed. Policy that enables minimum equity requirements and significant First Nations investment in new energy developments, collaboration and participation, partnerships and investment ensuring equity among parties impacted by a project on Country would provide that certainty, if it existed. And compliance frameworks ensuring best practice First Nations-led engagement on energy projects would provide that certainty, if it existed. The second is First Nations people. First Nations participation in and benefits arising from the energy transition was unapologetically ignored in last night's Federal Budget 2024-25. We have been stripped from the equation. Focusing funding on industry subsidies and incentives and building more layers of government, the Budget falls devastatingly short in addressing the urgent and long-term energy security needs of First Nations. Simply, there is nothing in the Federal Budget for First Nations in the clean energy transition. And it's not like the government doesn't get it. Over 60% of Australia's now super-funded critical minerals and hydrogen projects, and the vast swathes of land needed for solar and wind to run those projects, are on land/sea where First Nations have legal rights and interests - and while Native Title or land rights may not apply across the whole country, cultural heritage is tenure-blind, and increasingly, investors too are demanding the certainty that genuine First Nations partnerships can bring. In order to activate investment in Australia's superpower ambition significant additional investment in First Nations capacity, consent, collaboration, co-design and co-ownership needs to be made through loan guarantees and tax incentives, funding criteria and specialist programs. Significant legislation needs to be altered to ensure First Nations consent and cultural heritage, and rights and interests are legally protected as rights holders, not stakeholders. The Australian Government knows all this, but once again has kicked the can down the road, locking First Nations out from participating in the economy. Thanks for publishing National Indigenous Times.
First Nations energy exclusion hurts Australia's global emission target
nit.com.au
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