Australian business leaders were conspicuous by their absence in the first round of debates on the CPRS, but now that Prime Minister Julia Gillard has placed the issue back on standby, it seems many may be more prepared to emerge from the corridors of discontent this time round. AGL CEO Michael Fraser has led the way, warning in a speech on Friday that Australia had zero influence over global energy consumption patterns, and if these patterns were to change, as seems likely because of climate change and issues of energy security and cost, Australia might end up as the “Kodak story of the future”.
That was a reference to the massive shock delivered to Kodak and its market analysts when they realised the world was moving to digital cameras and no longer had such a hunger for its film. Australia, he suggested, was in a similar position, and it was essential that the government introduce a carbon price, preferably a trading scheme, to add to a renewable energy target and strong action on energy efficiency. “We don’t have much time. We cannot assume that the world of today will continue,” he said. “We cannot afford to wake up one day and find the world no longer wants to keep consuming our biggest export.”
Germany's winning goal
Might Germany become the first major industrial nation to ween itself off fossil fuels? “It’s not a pie-in-the-sky prediction”, says Jochen Fasbarth, the head of Germany’s Federal Environment Agency, which says the country could source all its electricity from renewable energy sources by 2050. The agency says Germany, which currently sources 16 per cent from renewables, could manage a complete conversion from a technical point of view, and could manage it even quicker given greater public acceptance and new technology breakthroughs. Germany has become a leader in solar and wind technology because of generous government incentives.
Renewed zeal
The installation of renewable energy sources is now outstripping other sources by a rate of nearly two to one, according to the European Commission’s Joint Research Centre. Its latest report shows renewable energy sources accounted for 62 per cent, or 17GW, of new electricity generation capacity built in Europe in 2009, up from 57 per cent in 2008. Wind accounted for most of this, with 10.2GW. The EU says renewables accounted for 19.9 per cent of overall electricity consumption last year and is on track to deliver up to 40 per cent by 2020, depending on the success of energy efficiency measures.
Jetting on jatropha
Australia’s Jatoil says it has produced its first commercial biofuel from its jatropha plantations and signed a sales agreement for ongoing shipments to the aviation industry. Jatropha, an oil-rich plant suitable for growth in marginal land areas, is one of several biofuels being targeted by the aviation industry as a possible new jet fuel. Jatoil says it expects to lift its biofuel output to some 700 tonnes during the next 12-18 months, and expand its central Java operation to cover 10,000 hectares.
Meanwhile, down under
Australian cleantech stocks continued to drastically underperform the broader market in the last quarter, slumping 25 per cent to take full financial year losses to 32 per cent and extending a three-year downturn that has seen some $6 billion wiped off the sector, which is now worth just under $10 billion. The best performers over the year were Gale Pacific (up 162.3 per cent), EcoQuest (97.8 per cent) and Pro-Pac Packaging (93.9 per cent). Other good performers with gains of over 30 per cent were Advanced Energy Systems, Mission NewEnergy, Tox Free Solutions, Dolomatrix, Stericorp and CBD Energy. Sadly, the best performers in the latest quarter were Overseas & General and Pacific Enviromin, possibly because both companies turned their business away from cleantech, and have now been removed from the index.
Say 'cimate change'
Australian business leaders were conspicuous by their absence in the first round of debates on the CPRS, but now that Prime Minister Julia Gillard has placed the issue back on standby, it seems many may be more prepared to emerge from the corridors of discontent this time round. AGL CEO Michael Fraser has led the way, warning in a speech on Friday that Australia had zero influence over global energy consumption patterns, and if these patterns were to change, as seems likely because of climate change and issues of energy security and cost, Australia might end up as the “Kodak story of the future”.
That was a reference to the massive shock delivered to Kodak and its market analysts when they realised the world was moving to digital cameras and no longer had such a hunger for its film. Australia, he suggested, was in a similar position, and it was essential that the government introduce a carbon price, preferably a trading scheme, to add to a renewable energy target and strong action on energy efficiency. “We don’t have much time. We cannot assume that the world of today will continue,” he said. “We cannot afford to wake up one day and find the world no longer wants to keep consuming our biggest export.”
Germany's winning goal
Might Germany become the first major industrial nation to ween itself off fossil fuels? “It’s not a pie-in-the-sky prediction”, says Jochen Fasbarth, the head of Germany’s Federal Environment Agency, which says the country could source all its electricity from renewable energy sources by 2050. The agency says Germany, which currently sources 16 per cent from renewables, could manage a complete conversion from a technical point of view, and could manage it even quicker given greater public acceptance and new technology breakthroughs. Germany has become a leader in solar and wind technology because of generous government incentives.
Renewed zeal
The installation of renewable energy sources is now outstripping other sources by a rate of nearly two to one, according to the European Commission’s Joint Research Centre. Its latest report shows renewable energy sources accounted for 62 per cent, or 17GW, of new electricity generation capacity built in Europe in 2009, up from 57 per cent in 2008. Wind accounted for most of this, with 10.2GW. The EU says renewables accounted for 19.9 per cent of overall electricity consumption last year and is on track to deliver up to 40 per cent by 2020, depending on the success of energy efficiency measures.
Jetting on jatropha
Australia’s Jatoil says it has produced its first commercial biofuel from its jatropha plantations and signed a sales agreement for ongoing shipments to the aviation industry. Jatropha, an oil-rich plant suitable for growth in marginal land areas, is one of several biofuels being targeted by the aviation industry as a possible new jet fuel. Jatoil says it expects to lift its biofuel output to some 700 tonnes during the next 12-18 months, and expand its central Java operation to cover 10,000 hectares.
Meanwhile, down under
Australian cleantech stocks continued to drastically underperform the broader market in the last quarter, slumping 25 per cent to take full financial year losses to 32 per cent and extending a three-year downturn that has seen some $6 billion wiped off the sector, which is now worth just under $10 billion. The best performers over the year were Gale Pacific (up 162.3 per cent), EcoQuest (97.8 per cent) and Pro-Pac Packaging (93.9 per cent). Other good performers with gains of over 30 per cent were Advanced Energy Systems, Mission NewEnergy, Tox Free Solutions, Dolomatrix, Stericorp and CBD Energy. Sadly, the best performers in the latest quarter were Overseas & General and Pacific Enviromin, possibly because both companies turned their business away from cleantech, and have now been removed from the index.