April

OCBC is Southeast Asia's first bank to rule out funding new coal power plants | Eco Business

Singapore’s OCBC Bank is the first banking giant in Southeast Asia to rule out financing new coal-fired power plants.

In an interview with Bloomberg on Wednesday, the bank’s chief executive Samuel Tsien said the company would no longer fund new coal-fired power plants in any country.

Home Front | A Breakthrough Production

Over the years an array of climate change related films have been produced in countries all around the world. Yet very few, if any of these productions have been made within Australia. It is extremely rare to find an Australian film or documentary that focuses on the local impacts and potential solutions to global warming. HOME FRONT sets out to change this, presenting a new and compelling narrative to enliven and motivate.

Featuring interviews with former Australian defence officials, fossil fuel industry executives, national security experts, and political and business leaders, you won't see your normal bunch of environmentalists presented in this film.

How to Set Up Effective Climate Governance on Corporate Boards | World Economic Forum

“The vision and action of Directors, CEOs and senior-level executives is fundamental to addressing the risks posed by climate change and delivering a smooth transition to a low-carbon economy. Materials, such as this new World Economic Forum report, that support Boards and Executives understand how to deliver on the TCFD can help foster a virtuous circle of adoption, where more and better information creates imperatives for others to adopt TCFD and for everyone to up their game in terms of the quality of the disclosures made. “

Global Energy Perspective 2019 | McKinsey & Company

With the speed and magnitude of these changes evolving rapidly, we’ve identified eight potential shifts that could further accelerate the energy transition. Although these eight shifts may not represent the most probable future, they should be considered conceivable based on the developments that can be observed today.

Download the summary here.

Updated Hutley opinion on directors' duties and climate risk | CPD

The Hutley legal opinion on directors’ duties and climate risk, first released in 2016, has been updated by Noel Hutley SC and Sebastian Hartford Davison to emphasise five developments in the elapsed three years which increase the need for directors to consider climate risks. Those are: regulator alignment on the impact of climate change; new reporting frameworks; investor and community pressure; advances in scientific knowledge; and increased litigation risks. The authors write:

“In our opinion, these matters elevate the standard of care that will be expected of a reasonable director. Company directors who consider climate change risks actively, disclose them properly and respond appropriately will reduce exposure to liability. But as time passes, the benchmark is rising.”

Investors set out policy priorities to limit systemic climate risks | IGCC

The policies investors have outlined today are critical first steps to managing the substantial risks of climate change. They will also unlock multi-billion dollar investments in economic revitalisation and zero carbon modernisation.” 

Download the Media Release or the policy document Policies for a Resilient Net Zero Emissions Economy.

The Pears Report - Risky Business? | Alan Pears, Renew Ecomony

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THIS summer has exposed yet another aspect of the fragility of our traditional electricity
grid, with several failures in local distribution networks—the so-called ‘poles and wires’. As former ATA staffer Craig Memery has reminded us in a recent article (www.bit.ly/2HSHTao), the vast majority of power failures—97.2% on Craig’s figures—happen within local networks, with just 0.24% from insufficient generation. 

Once again we face a choice between propping up traditional over-built
electricity supply infrastructure or driving transformation. The first involves inefficient capital investment in power lines and equipment capacity used for just a few hours a year; the second involves innovation with confusing options and other risks.

Read more