Indonesia will struggle to attain climate goals

2021 ◽  
Keyword(s):  
Climate Change ◽  
Power Plants ◽  
Oil And Gas ◽  
Carbon Tax ◽  
Content Type ◽  
Dominant Source ◽  
Net Zero ◽  
The Government ◽  
Oil And Gas Firms

Significance In July, it expressed optimism about achieving net-zero emissions by “2060 or sooner”. This will require a phasing out of coal-fired power plants, currently the dominant source of energy in the country. Impacts Jakarta may include its 2060 target explicitly in future updates of its Nationally Determined Contribution to action against climate change. Indonesian oil and gas firms will step up opposition to the government’s plans to introduce a carbon tax. The government will redouble commitment to reforestation efforts.

Oil will drive record Guyana growth again in 2022

2021 ◽  
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
National Development ◽  
Oil Industry ◽  
Medium Term ◽  
Content Type ◽  
Development Plans ◽  
The Government ◽  
Wage Increases ◽  
Oil And Gas Sector

Significance As in 2020 and 2021, this projected growth will be driven by the ongoing expansion of the oil and gas sector, and related investment and state revenues. These rising revenues will support the government’s ambitious national development plans, which include both increased social and infrastructure spending. Impacts The government will prioritise enhancing the oil and gas investment framework. Investment into joint oil and gas infrastructure with Suriname will benefit the growing oil industry in both countries. The expansionary fiscal policy may lead to a rise in inflation, leading to further calls for wage increases. In the medium term, strong growth in the oil and gas sector could lead to increased climate change activism in the country.

Australian energy reform plan faces roadblocks

2018 ◽  
Keyword(s):  
Climate Change ◽  
Carbon Tax ◽  
Public Support ◽  
Content Type ◽  
Climate Change Policies ◽  
Consumer Prices ◽  
Reform Plan ◽  
The Government ◽  
Supplier Networks ◽  
Energy Reform

Subject Australian energy reform plans. Significance The government plans to offer discounted loans for power generation to ensure more reliable supplies and has not ruled out including coal-fuelled plants, after it released a new draft strategy for discussion on October 23. The main objective is reducing consumer prices. Impacts Efforts to break up wholesale supplier networks could lead to over-regulation and discourage new entrants. If it fails to respond to public support for climate change policies, Canberra risks alienating voters and business lobbies. If Labor forms a government, it could push for emission controls and a revived carbon tax.

New Zealand government may achieve transformation

2018 ◽  
Keyword(s):  
Climate Change ◽  
New Zealand ◽  
Oil And Gas ◽  
Exploration And Exploitation ◽  
Content Type ◽  
Oil And Gas Exploration ◽  
Economic Shock ◽  
The Government ◽  
Offshore Oil And Gas ◽  
Offshore Oil

Significance Fourteen days beforehand, Ardern said no new offshore oil and gas exploration permits would be awarded -- evidence she said of the “government of transformation” she promises. The offshore ban does not affect the wide areas already open for exploration and exploitation over the next three decades, but it reinforces the government’s intention to be more active on climate change and environmental protection. Like the government's “wellbeing economics”, this might prove transformative if Ardern can retain office through to at least the next election in 2020. Impacts The offshore oil and gas exploration ban could see earlier withdrawal by major oil producers. Onshore permits for oil and gas exploration and coal mining will continue. Any major political or economic shock will affect “transformation”, as Robertson warns.

Impact of stakeholder pressure on the adoption of carbon management strategies

2020 ◽  
Vol 11 (7) ◽  
pp. 1189-1212
Author(s):  
Somaiya Yunus ◽  
Evangeline O. Elijido-Ten ◽  
Subhash Abhayawansa
Keyword(s):  
Climate Change ◽  
Voluntary Disclosure ◽  
Carbon Tax ◽  
Management Strategies ◽  
Annual Reports ◽  
Content Type ◽  
Carbon Management ◽  
Thomson Reuters ◽  
Innovation Strategies ◽  
The Government

Purpose This paper aims to examine whether the perceived pressures from stakeholders with high potential to cooperate and/or threaten the firm’s survival affect the decision to adopt carbon management strategies (CMSs). Design/methodology/approach A logistic panel regression model is estimated using longitudinal data from Australia’s Top-200 listed firms over seven years from 2009 to 2015. The authors test the firm’s propensity to adopt CMSs conditioned on the influence of four groups of stakeholders: the regulators, institutional investors, media and creditors. Data on CMSs adopted by firms are sourced from Thomson Reuters ASSET4 database, the Carbon Disclosure Project survey, annual reports, company websites and sustainability reports. Findings The authors show that stakeholder pressures are associated not only with the adoption or non-adoption of CMSs but also with the type of CMSs adopted. Three types of CMSs are identified, namely, compensation, reduction and innovation strategies. The findings reveal that CMS adoption and the firms’ propensity to adopt compensation and reduction strategies are significantly related to perceived pressures from the regulators, media and creditors. While pressure from the regulators is also associated with the firms’ propensity to adopt innovation strategies, a more advanced type of CMSs, the potential pressure from the media and creditors are not significantly related. Practical implications The findings imply that a firm’s adoption of CMSs is not merely about managing stakeholders in the regulatory sphere but also about taking into account the perceived pressures from non-regulatory stakeholders and the context-dependent nature of their influences. The authors show that by influencing the voluntary disclosure of carbon emissions, the government continues to be effective in encouraging firms to take action on climate change despite the abolition of the carbon tax in Australia. Social implications This study highlights that, apart from a heavy-handed approach, regulators can adopt softer forms of regulation such as the National Greenhouse and Energy Reporting (NGER) Act and a less invasive, stakeholder-driven approach to encourage firms to adopt CMSs and thereby work towards climate change mitigation. Originality/value This study extends the literature by showing that perceived pressure from some stakeholders found to be influential in relation to some corporate decisions (such as environmental strategy adoption and climate-change-related disclosure) may not necessarily be influential in relation to CMS adoption.

Shell departure will expose Dutch business risks

2021 ◽  
Keyword(s):  
Climate Change ◽  
The Netherlands ◽  
Oil And Gas ◽  
Legal Action ◽  
Similar Action ◽  
Content Type ◽  
Climate Regulation ◽  
Competition For Space ◽  
The Government ◽  
Dividend Tax

Significance The oil and gas giant cited the country’s 15% dividend tax on some types of shares as a key reason behind its decision, while in recent years the company has been subject to climate litigation in the courts. Impacts The government will be significantly more vigilant and protective of key industrial players such as semiconductor producer ASML. Farmers' protests are likely to increase amid worsening constraints over climate regulation and competition for space. Successful legal action over climate change in the Netherlands will encourage similar action in other countries.

Guatemala’s economy on the way to recovery

2021 ◽  
Keyword(s):  
Climate Change ◽  
Latin America ◽  
Violent Crime ◽  
Business Environment ◽  
Policy Support ◽  
Content Type ◽  
Containment Measures ◽  
The Government ◽  
The Way

Significance National GDP nevertheless contracted by just 1.5% in 2020 -- less than almost any other country in Latin America. Resilient remittances and exports, coupled with unprecedented policy support, have mitigated the effects of the pandemic and subsequent containment measures, leaving the country better placed for recovery than its neighbours. Impacts Enduring poverty, inequality and violent crime, and the impacts of accelerating climate change, will drive further migration from Guatemala. The government will pursue banking law reforms, to reduce risks to financial activities in the post-pandemic business environment. Infighting and corruption scandals will hinder the opposition's ability to benefit from the decline of the president's popularity.

North Macedonian crisis spurs move to renewable energy

2022 ◽  
Keyword(s):  
Power Plants ◽  
International Market ◽  
Well Being ◽  
Global Market ◽  
Market Prices ◽  
Content Type ◽  
Market Situation ◽  
The Government ◽  
Domestic Electricity ◽  
Health And Well Being

Significance Electricity companies wanted a near-38% rise amid soaring international market prices, but the ERC wanted to avoid a price shock. In November, the government declared an ‘energy crisis’ at the ERC’s request, thanks to reduced domestic electricity supply and the global market situation, and extended it in December for six months. Impacts Investment in infrastructure and technologies should contribute to economic growth and create jobs. Care will have to be taken that closing established mines and power plants do not depress economies locally and raise unemployment. Rising domestic utility prices will inflict political damage on a fragile government. Phasing out coal will improve air quality and population health and well-being, with knock-ons for healthcare priorities and spending.

A qualitative assessment of the impact of smart homes and environmentally beneficial technologies on the UK 2050 net-zero carbon emission target

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ghasson Shabha ◽  
Francesca Barber ◽  
Paul Laycock
Keyword(s):  
Climate Change ◽  
Carbon Emissions ◽  
Smart Home ◽  
Smart Homes ◽  
Content Type ◽  
Net Zero ◽  
Zero Carbon ◽  
The Uk ◽  
Home Technology ◽  
Smart Home Technology

PurposeThere are 29 million homes in the UK, accounting for 14% of the UK's energy consumption. This is given that UK has one of the highest water and energy demands in Europe which needs to be addressed according to the Committee on Climate Change (CCC). Smart homes technology holds a current perception that it is principally used by “tech-savvy” users with larger budgets. However, smart home technology can be used to control water, heat and energy in the entire house. This paper investigates how smart home technology could be effectively utilised to aid the UK government in meeting climate change targets and to mitigate the environmental impact of a home in use towards reducing carbon emissions.Design/methodology/approachBoth primary and secondary data were sought to gain insight into the research problem. An epistemological approach to this research is to use interpretivism to analyse data gathered via a semi-structured survey. Two groups of participants were approached: (1) professionals who are deemed knowledgeable about smart home development and implementation and (2) users of smart home technology. A variety of open-ended questions were formulated, allowing participants to elaborate by exploring issues and providing detailed qualitative responses based on their experience in this area which were interpreted quantitatively for clearer analysis.FindingsWith fossil fuel reserves depleting, there is an urgency for renewable, low carbon energy sources to reduce the 5 tonnes annual carbon emissions from a UK household. This requires a multi-faceted and a multimethod approach, relying on the involvement of both the general public and the government in order to be effective. By advancing energy grids to make them more efficient and reliable, concomitant necessitates a drastic change in the way of life and philosophy of homeowners when contemplating a reduction of carbon emissions. If both parties are able to do so, the UK is more likely to reach its 2050 net-zero carbon goal. The presence of a smart meter within the household is equally pivotal. It has a positive effect of reducing the amount of carbon emissions and hence more need to be installed.Research limitations/implicationsFurther research is needed using a larger study sample to achieve more accurate and acceptable generalisations about any future course of action. Further investigation on the specifics of smart technology within the UK household is also needed to reduce the energy consumption in order to meet net-zero carbon 2050 targets due to failures of legislation.Practical implicationsFor smart homes manufacturers and suppliers, more emphasis should be placed to enhance compatibility and interoperability of appliances and devices using different platform and creating more user's friendly manuals supported by step-by-step visual to support homeowners in the light of the wealth of knowledge base generated over the past few years. For homeowners, more emphasis should be placed on creating online knowledge management platform easily accessible which provide virtual support and technical advice to home owners to deal with any operational and technical issues or IT glitches. Developing technical design online platform for built environment professionals on incorporating smart sensors and environmentally beneficial technology during early design and construction stages towards achieving low to zero carbon homes.Originality/valueThis paper bridges a significant gap in the body of knowledge in term of its scope, theoretical validity and practical applicability, highlighting the impact of using smart home technology on the environment. It provides an insight into how the UK government could utilise smart home technology in order to reduce its carbon emission by identifying the potential link between using smart home technology and environmental sustainability in tackling and mitigating climate change. The findings can be applied to other building types and has the potential to employ aspects of smart home technology in order to manage energy and water usage including but not limited to healthcare, commercial and industrial buildings.

A strategic approach to reduce climate change risks for the LNG industry

2010 ◽  
Vol 50 (2) ◽  
pp. 694
Author(s):  
Michele Villa
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Global Climate ◽  
Supply And Demand ◽  
Climate Change Policy ◽  
Scenario Planning ◽  
Fixed Rate ◽  
Change Policy ◽  
The Government ◽  
Compliance Strategy

The Senate rejection of the Carbon Pollution Reduction Scheme Bill 2009 (CPRS) for the second time in December 2009 caused key sections of Australia’s big business to express concern. The stalled legislation and the challenges associated with the Copenhagen Accord to deliver a clear post-2012 global climate change agreement have only fuelled uncertainty surrounding the future of climate change policy. This uncertainty will come at a cost for the Australian LNG industry where a raft of new projects are fast approaching final investment decisions and the real impact of a carbon impost is difficult to quantify. Despite this uncertainty, subsequent negotiations between the Government and the Opposition regarding the LNG industry, led to an amended version of the CPRS Bill. One of the amendments accepted by the Government was related to the allocation rate and states that LNG is expected to be a moderately emissions intensive trade exposed (EITE) activity and therefore eligible to receive free permits at a fixed rate per tonne of LNG produced. Should this version of the CPRS become legislation in 2010, LNG producers will at least be able to calculate their liability under the scheme and confirm their compliance strategy. Given the significant value at stake with existing and new investments, oil and gas businesses should act with urgency to develop strategies to respond to a carbon constrained future, irrespective of the final legislative design. Scenario planning is an important step in considering the range of regulatory outcomes—both domestic and international—that will impact on the supply and demand of carbon assets.

PESA industry review—2009 environmental update

2010 ◽  
Vol 50 (1) ◽  
pp. 143
Author(s):  
Sue Slater
Keyword(s):  
Climate Change ◽  
Coal Seam ◽  
Greenhouse Gas ◽  
Oil And Gas ◽  
Renewable Energy Sources ◽  
South Australia ◽  
Final Report ◽  
Coal Seam Gas ◽  
Geological Sequestration ◽  
The Government

This paper provides a brief update on some of the key environmental issues that arose during 2009. In Queensland, activity is dominated by coal seam gas projects and specifically coal seam gas (CSG) to liquefied natural gas (LNG) projects. Environmental milestones for these projects are discussed, and the State Government’s response policy and regulation development response is reviewed. The progress of the more conventional LNG projects in Western Australia and the Northern Territory is also discussed. The final report on the mandated ten year review of the Environment Protection and Biodiversity Conservation Act 1999 was released in December 2009. Seventy-one recommendations were made, and some key recommendations related to our industry are discussed here. Climate change has again dominated the media, with the United Nations Climate Change Conference held in Copenhagen in December 2009. In Queensland, the Government released a paper that presented a range of strategies and policies, building on a number of existing schemes and introducing new measures. Gas is identified as a key transitional fuel while low emission coal technology and emerging renewable energy sources are being developed. Greenhouse gas legislation is continuing to be developed across several states, but subordinate legislation is yet to be finalised. In Victoria, submissions on the Greenhouse Gas Geological Sequestration Regulations closed in October 2009, and the Greenhouse Gas Geological Sequestration Act 2008 came into effect on 1 December 2009. In March 2009, ten offshore acreage releases were made under the Commonwealth legislation; however, the closing date for submissions is dependent upon the development of the regulations. South Australia passed an Act amending the Petroleum and Geothermal Act 2000 on 1 October 2009 to allow geosequestration. A number of reviews of the regulatory framework or the administrative systems associated with the upstream oil and gas sector have been completed in the last decade. All these reviews make similar findings and recommendations, and most recently the Jones Report, tabled in Western Australian Parliament on 12 August 2009, found that most key recommendations from previous reports and reviews had not been addressed or properly implemented. There seems to be little point in undertaking regulatory and system reviews that consistently make similar findings, if these findings are never addressed. The hurdles to implementation of key recommendations need to be identified, so that progress can be made in improving the approvals processes for the industry, and improving the environmental outcomes.

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