ESG Snapshot: Issue 116

This week's highlights include:

• Slashed target. NSW has slashed the FY27 target for its peak electricity demand certificate scheme.
• First standard. The federal government has released its first proposed EPBC environmental standard.
• Green steel. WA will take an 'if not, why not' approach to the use of green steel in state government building projects.
• Corporate support. More than half the large-scale renewable energy capacity installed since 2017 have been supported by a corporate PPA.
• Nature-carbon staple. Accounting for Nature has celebrated the first stapling of certified Nature Units to Australian carbon credits.
• Too slow. Most renewable energy developers say NSW's planning processes are a bigger source of delay than the EPBC Act.
• CO2 removals. CSIRO has released a roadmap on CO2 removals in Australia.
• CO2 terminal. The NT government has given Vopak exclusive rights to establish a CO2 import terminal at Middle Arm.

ESG Snapshot - powered by the Business Council for Sustainable Development Australia and curated by ESG communications and content consultancy Earthed.

Statutory development - environmental standards. The federal government has released a draft National Environmental Standard on Matters of National Environmental Significance (MNES), and will soon release another on environmental offsets.

The MNES Standard includes objectives that describe its overall aim, outcomes that describe the specific result the standard aims to achieve, and principles that need to be applied to achieve the outcomes.

The standard also introduces "net gain" requirements. Comments are due by 30 January.

A Senate committee has launched an inquiry into the government's EPBC reform bills, and has scheduled hearings for the 14th, 20th and 21st of November.

A Senate committee inquiry into information integrity on climate change and energy has scheduled three hearings for this week.

CSIRO has released the Australian Carbon Dioxide Removal (CDR) Roadmap, which details the potential for a CDR industry "that could help the nation, and the rest of the world, reach net zero".

The roadmap estimates the capacity and cost of a selection of novel CDR technologies, including direct air capture and storage, biomass carbon removal and storage, ocean alkalinity enhancement, and enhanced rock weathering.

"In Australia, it is projected that between 133–200 megatonnes of CO₂ per year of CDR will be needed by 2050, depending on how dramatically emissions are reduced," the report says.

"These projections will not be achieved through a single approach or technology. Both existing conventional and novel CDR approaches will be needed." 

Approximately 60% of renewable energy capacity since 2017 has been contracted with or supported by a Corporate Power Purchase Agreement, says the latest annual State of the Corporate PPA Market report, released by the Business Renewables Centre of Australia.

In what it terms is "a historic move for Australia's carbon market", Accounting for Nature has issued the world's first Nxt.Nature CarbonPlus Units under a pilot program, with the units linked to Australian Carbon Credit Units.

The move marks the first time that independently certified environmental accounting data has been digitally linked to ACCUs, AfN said.

"The inaugural Nxt.Nature CarbonPlus issuance of 41,332 labelled units, spanning three ACCU vintages (2023/24, 2024/25, and 2025/26), was made to Austin Downs Station, a 167,570-hectare pastoral property in WA," AFN said.

"Austin Downs is undertaking long-term landscape regeneration, which includes a Human-Induced Regeneration of a Permanent Even-Aged Native Forest project that has been issued ACCUs by the Clean Energy Regulator," it said.

"While many ACCU projects claim additional environmental benefits, no mechanism has previously existed in Australia to evidence these non-carbon nature-related outcomes at the unit level," it said. 

"Nxt.Nature CarbonPlus changes that by providing market-recognised proof that any co-benefit claims associated with carbon abatement are underpinned by quantified, third-party independent, assured nature measurement disclosures on the state of the linked environmental asset, in this instance, native vegetation."

Environment Minister Murray Watt has delivered his inaugural annual statement to Parliament on Australia's international environment leadership.

The Minister noted that more than half of Australia's ocean is now protected in marine parks.

"That includes about a quarter of our ocean - 1.3 million square kilometres – in highly protected areas," he said.

"We were among the first countries to sign the High Seas Biodiversity Treaty, which we’ll ratify in coming months, after the passage of legislation," the Minister added.

"This year we also announced that Australia will lead - with Chile - the 100% Alliance for Sustainable Ocean Management," the Minister said.

"This will encourage and support other countries to sustainably manage 100% of their ocean, including through the development of sustainable ocean plans."

The Senate has agreed to establish a new committee inquiry into the impact of "microplastics, toxins and forever chemicals".

Government senators did not support the establishment of the new inquiry, arguing that a select committee inquiry into PFAS is currently underway, and a 2024 Senate committee report covered plastic pollution, including microplastics.

Statutory development - separation of the AER. Parliament has passed a Bill that separates the Australian Energy Regulator from the Australian Competition and Consumer Commission, making it a separate entity.

DCCEEW is consulting on the design of its proposed Solar Sharer Offer. Comments are due by 21 November.

The government has formally confirmed that the Guarantee of Origin (GO) scheme will formally launch on 3 November.

The Clean Energy Finance Corporation will provide a discount loan of up to $40 million to green finance company Brighte that is expected to support the roll out of up to $150 million of consumer energy resources across Australia.

The finance will enable Brighte to offer discounted green loans to eligible Australian households for a wide range of energy upgrades - including solar and battery systems, energy-efficient heating and cooling, insulation, and EV chargers.

Brighte's new discounted green loan product will offer an introductory promotional rate of 6.99%, with terms ranging from 2 to 10 years. Loans will be available for amounts between $2,000 and $55,000.

The Australian Energy Market Commission has released a draft determination that would establish Australia's first national framework for customers who want to stop gas supply to their property, including associated costs.  

AEMC Chair, Anna Collyer, noted that more customers are choosing to go all-electric.

"Yet we currently have no clear national rules on customers' options when they want to stop using gas and what costs they should pay if they decide to remove their connection," she said.  

The Clean Energy Regulator has released its FY25 annual report.

The University of Adelaide's Professor Yao Zheng has received the 2025 Malcolm McIntosh Prize for Physical Scientist of the Year, as part of the Prime Minister's 2025 Prizes for Science awards.

Professor Zheng received the prize for his work to produce clean hydrogen directly from seawater, instead of purified water.

DCCEEW has released a referral for Grupo Cobra's proposed 370MW Strontian solar farm in NSW, which would be integrated with a 335 MW/670MWh battery system.

The Greens have introduced the Higher Education Support Amendment (End Dirty Uni Partnerships) Bill 2025.

The Bill would require universities to disclose and divest from any partnerships with fossil fuel companies, as well as weapons manufacturers, gambling, and tobacco companies.

Will COP30 be a success? Can multilateralism still deliver? In the latest episode of the 'Track Changes' pod, two senior Carbon Pulse journalists - Allison Gacad and Mark Till - share their insights about this make-or-break COP. Tune in on your favourite podcast platform!

More submissions are now available to a parliament committee inquiry into the Queensland government's energy roadmap legislation.

The Queensland Conservation Council said most submissions flagged "major concerns" with the legislation.

"Nexa Advisory argues keeping Queenslanders reliant on unreliable coal will increase wholesale electricity costs by 21% - or $115.7 billion - compared to a planned, orderly transition," the QCC noted.

"Meanwhile the Electrical Trades Union highlights that it will likely cost $3.3 billion to refurbish state-owned coal power stations to keep them running – much more than the Crisafulli Government has allocated so far."

The NSW government has slashed the FY27 Peak Demand Reduction Certificate Scheme target for peak demand reduction from 7.5% to 0.5%.

Without the target adjustment, around 80 million additional certificates would need to have been created and surrendered by March 2028, "risking a shortage of certificates and penalties for scheme participants", the state government said.

Significant growth in existing and new activities will still be required to meet the FY26 and revised FY27 target," the state government said.

"We estimate 22 million additional certificates will be needed by March 2028, with at least 13.5 million by March 2027." 

Certificates are earned through activities that reduce peak demand, such installing energy efficient appliances.

State significant wind and solar energy projects can take up to 12 months on average to prepare and lodge a scoping report with the NSW Department of Planning, Housing and Infrastructure (DPHI)[3] to commence the formal assessment process., according to a new Herbert Smith Freehills Kramer survey.

Industry says total costs to secure planning approvals are higher for most clean energy projects in NSW compared to other States and Territories.

Two thirds (67%) said assessment was a greater source of delay compared to referral and approval under the federal EPBC Act.

Transcript is now available from the most recent hearing of a NSW parliamentary committee inquiry into the impact of renewable energy zones.

The hearing featured representatives of Endeavour Energy, Responsible Future, Good for the Gong, Hi Neighbour and Rewiring Australia.

Transcript is now available from the first hearing of a NSW parliamentary committee inquiry into historical development consents.

Two hearings were conducted last week by a NSW parliamentary committee inquiry into electric vehicle infrastructure.

NSW EPA chief executive Tony Chappel has released an update on a proposed organisational restructure that would result in a total net reduction of 75 staff.

EnergyCo has published the first Quarterly Monitoring Report under the Social Impact Management (SIM) Plan for the Central-West Orana Renewable Energy Zone (REZ) transmission project.  

The report covers the period June to September 2025  

The NSW government has placed on exhibition a proposal for Metlan Energy & Metals' 90MW Upper Hunter South solar farm, and integrated 30MW/60MWh battery system.

Grant opportunity - water. The Victorian government is offering a total of $24 million in Integrated Water Management Grants to support projects that will take pressure off drinking water supplies.

Eligible projects include building wetlands with stormwater for wildlife habitat, and infrastructure to deliver recycled water for farm irrigation.

Funding is also available for researching, feasibility and planning activities that will pave the way for the future delivery of on-ground projects.

The Department of Natural Resources Tasmania and the EPA have released a report into this year's mass salmon deaths in Huon and Tassal fish farms in the lower D'Entrecasteaux Channel.

As part of new, soon-to-be-introduced local sourcing requirements for steel for major government projects, the government will take an "if not, why not" approach to procurement that will explicitly preference WA-made green steel.

To support this, the government will also publish a Western Australian Industry Participation Strategy (WAIPS) Addendum for steel, which will introduce stronger expectations for local sourcing, recognise the role of recycled and low-emissions steel, and insist on value-for-money assessments. It will also:

• Increase the supply of local steel to government projects.
• Release an open-market Expression of Interest for a green-steel product
  to supply those projects and programs.
• Issue directions to Western Power, Synergy, and Horizon Power that will drive local content procurement.

Horizon Power is inviting proposals to supply power to the Pilbara from 2030.

The EOI invites proposals from a broad range of industry participants, including those with innovative renewable energy solutions and partnerships with Traditional Owner groups.

The EOI builds on the work already being undertaken as part of the Pilbara Energy Transition Plan, which will see the private sector develop common user transmission infrastructure to deliver renewable energy to heavy industry across the Pilbara. 

The EOI closes at the end of February.

The NT government has provided a not-to-deal commitment to Vopak and the Land Development Corporation, giving the company certainty to accelerate development of a CO2 import terminal at Middle Arm.

The commitment is a government pledge giving Vopak exclusive rights to take the project forward.

The terminal will manage the import, storage and distribution of liquid CO2, "underpinning major offshore carbon capture and storage developments across Australia and the Asia Pacific region", the Territory government said.

The move follows the signing of an MoU between the former NT government and Vopak in July last year, to develop a common-user infrastructure including a CO2 import terminal in the Middle Arm Sustainable Development Precinct.

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BHP has announced it will sell about 3,700 hectares of land at its Mt Arthur Coal site in NSW to neighbouring company Malabar Resources.

The Australasian Centre for Corporate Responsibility said the sale is a "concerning backflip" that appears to enable adjacent coal mining company Malabar Resources to develop its Maxwell North coal mine.

"The fanfare BHP brought to its 2022 announcement of a 2030 Mt Arthur closure – which demonstrated a balance between sound economic management, emissions reductions and fair workforce planning – now appears to have been hollow signalling," it said.

The Minderoo Foundation, co-established by Fortescue Chair Andrew Forrest, has invested US$10 million (A$15.4 million) in the Tropical Forest Forever Facility (TFFF) – a landmark global initiative designed to mobilise long-term finance for the conservation and restoration of tropical forests to be launched at COP30.

In his 10th public letter, released yesterday, COP30 President Ambassador André Corrêa do Lago says he has "one major priority for Belém - to ensure that our amazing membership of almost 200 countries and cultures becomes more than negotiating groups and Parties to evolve into one cohesive team".

"A cohesive team capable of channeling to our work humanity’s collective intelligence and the best we can individually offer towards our shared purpose to protect our societies, economies and ecosystems," he writes.

"This work is greater than ourselves," his letter says. "This work is greater than now."

The "Open Coalition on Compliance Carbon Markets" has been endorsed by governments representing 40% of global emissions, says ANU Professor Frank Jotzo.

"This matters," Professor Jotzo says. "The coalition seeks for carbon markets to play a bigger role in achieving emissions goals cost-effectively. It's open for more countries to sign on (hello Australian government)."

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