Australia's energy regulator says conditions in the national electricity market have improved, but is warning many challenges still remain. The government today blaming a decade of underinvestment in renewable energy. Amelia_Dunn1
In a sign of a fresh start on climate change, the new federal government has announced new, more ambitious, emissions targets to the United Nations. The issue of emissions reduction and fossil fuel exports was a key point of tension between Australia's previous government and Pacific leaders, who have labelled climate change the greatest threat to the region.
Mr Albanese sought to frame the decision as an economic boon. "What business has been crying out for is investment certainty," he said. In 2022, MIT ranked Australia 52nd of 76 nations on its Green Future Index, which rates how much countries are shifting towards an environmentally sustainable economy.
The issue of emissions reduction and fossil fuel exports was a key point of tension between Australia's previous government and Pacific leaders, who have labelled climate change the greatest threat to the region. BHP has been unable to find a buyer for its Mt Arthur coal mine in the Hunter Valley - its largest one in NSW, and will now spend $999 million on closing the mine and rehabilitating the site over the next 10 to 15 years, with final plans for the site yet to be determined.
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