Op-ed: Australia’s outsized role in the era of climate consequences & More Trending News

 

ARENA is operating arduous to totally realise the alternative introduced by Australia’s abundance of land, solar, wind, minerals and mind, and the belief that different nations have in us.

In this extract from a speech delivered at an occasion celebrating the tenth anniversary of the institution of ARENA, Chairman of the Board Justin Punch seems to be ahead to the challenges the company is going through.

It has been confronting to watch the climate occasions occurring throughout the world this yr.

The Western US is the driest since the yr 800. China has endured a heatwave some have referred to as the most extreme climate occasion anyplace, ever. There have been document floods in Pakistan, unthinkable temperatures in Europe, and of course a triple-dip La Nina in Australia, which has introduced our personal climate catastrophe in the kind of document flooding.

In Arnhem Land, Traditional Owners I work with inform me it’s turning into a more durable place to stay and work because of insufferable temperatures.



It is evident the world has now gone past the era of climate change forecasts and that we are actually dwelling in the era of consequences.

This actuality frames not solely the urgency of the work ARENA and the CEFC do, however it additionally underlines the visionary and progressive laws that created these two companies a decade in the past, effectively earlier than this actuality was so confrontingly obvious.

We are right here immediately to recognise the vital work the two companies have finished over the previous decade, thank and acknowledge those that created them (and those that saved them), and look with confidence to the subsequent decade – the important decade – throughout which these companies will likely be referred to as on to do much more to realize their mission and the formidable targets set by this authorities.

ARENA’s mission

ARENA was created with the goals of enhancing the provide and competitiveness of renewable power in Australia.

With the current passing of the Climate Change Act, the Albanese authorities has additionally now added Australia’s new emissions discount targets to those goals, and our expertise mandate has been prolonged to incorporate power effectivity and electrification applied sciences.

ARENA's 10th anniversary celebration brought together (L-R) ARENA CEO Darren Miller, Minister for Industry, Energy and Emissions Reduction Chris Bowen, ARENA Chairman of the Board Justin Punch.
ARENA’s tenth anniversary celebration introduced collectively (L-R) ARENA CEO Darren Miller, Minister for Industry, Energy and Emissions Reduction Chris Bowen, ARENA Chairman of the Board Justin Punch.

Today ARENA is funding tasks throughout a variety of applied sciences and sectors that can contribute to each our 2030 and 2050 emissions targets.

In the nearer time period, ARENA’s Large Scale Battery funding spherical will assist gigawatts of battery storage – all with superior inverter functionality – which can assist new renewable technology and provides AEMO the essential capability to run the grid safely and securely as coal technology is progressively retired over the coming decade.

We supported Australia’s first giant scale photo voltaic farms, grid scale batteries and digital energy vegetation. Now we’re supporting Australia’s first business scale hydrogen electrolysers, first nationwide EV charging networks, the first privately developed pumped hydro plant to be constructed in practically 40 years and the first renewably powered mines.

These are just a few of the tasks that can have a cloth influence on Australia’s emission profile by 2030, immediately, and thru the follow-on tasks they encourage.

Meeting the problem

As we glance past 2030, out in the direction of 2050, we’re turning our minds to decarbonising some of the hardest to abate sectors of heavy trade. We’ll proceed to assist Australia’s rising hydrogen financial system, we’re making good progress on decarbonising alumina refining, and we’re dedicated to the large alternative of inexperienced iron and inexperienced metal.

And with our landmark Solar 30-30-30 initiative we’re backing our world-leading photo voltaic scientists and engineers to create the subsequent technology of photo voltaic PV, with the goal of driving down the price of giant scale photo voltaic to a 3rd of its present worth.

If we are able to obtain this price discount, we’ll lay the platform for a dramatic transformation of Australia’s industrial system and push renewable power into the hardest-to-abate sectors and furthest corners of the power transition.

It units Australia as much as absolutely realise the alternative introduced by our abundance of land, solar, wind, minerals and mind, and the belief that different nations have in us, to create the new industries that can provide the world with the inexperienced power, inexperienced minerals and supplies so crucially wanted by so many.

In the course of we don’t simply cut back Australia’s emissions, we additionally make a vastly outsized contribution to the world’s decarbonisation effort. Our imaginative and prescient is one of international emission discount, by expertise innovation, for the profit of Australia.

We’re operating arduous at this imaginative and prescient. With the elevated assist of the Albanese authorities in the most up-to-date funds, this yr will characterize the highest stage of venture approvals, and funds dedicated in the historical past of the company, and now we have virtually a billion {dollars} of tasks in the pipeline.

Past visionaries

That all of that is even attainable is a tribute to the imaginative and prescient of those that noticed what ARENA might be over a decade in the past, and those that have labored arduous to show that imaginative and prescient into actuality in the years since.

Founding ARENA CEO Ivor Frischknecht and former ARENA COO Nicola Morris
Founding ARENA CEO Ivor Frischknecht and former ARENA COO Nicola Morris

On that observe could I end by acknowledging the following individuals:

The authentic architects of each companies – then Prime Minister Julia Gillard, then Minister for Climate Change and Energy Efficiency, Industry and Innovation Greg Combet, in addition to members of the then authorities, parliament, public service and civil society that helped set up ARENA.

The founding Board and administration – Chair Greg Bourne, founding CEO Ivor Frischknecht, and the preliminary administration crew who labored so arduous to create from nothing an company of the high quality and popularity of immediately, and the groups since then, in specific my predecessor Martijn Wilder.

Those who saved the company in the interval when then authorities sought to abolish it (there have been many, and it’s a complicated and stunning honour roll).

Those in the current Coalition authorities who moved past this era and refreshed ARENA’s funding in specific the present Shadow Treasurer, the Hon. Angus Taylor.

Fresh momentum

Finally, the present Albanese Government, together with Minister for Climate Change & Energy the Hon. Chris Bowen and Assistant Minister Senator McAllister, for giving the sector contemporary momentum, with a legislated goal, clear intent and additional funding to ship formidable new packages; and,

And of course I wish to thank the present ARENA crew, each board and administration, in specific ARENA’s excellent CEO Darren Miller, its CFO Ian Kay, who has been with the company since its inception and is its institutional reminiscence, and its actually world-class crew – a fusion of the easiest of each private and non-private sector experience.

I’m enthusiastic about the achievements we rejoice tonight, however much more so about what we may be celebrating in one other ten years.

Thanks to all of you for coming alongside tonight and celebrating with us this excellent tenth anniversary milestone.

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