ESG Snapshot: Issue 82

This week's highlights include:

• Nature market open for business. Minister Tanya Plibersek has gazetted instruments that make the nature repair market officially operational.
• Don't hold back, says ACCC. The ACCC says businesses shouldn't hesitate to tell customers about their legitimate environmental achievements.
• Waste to energy rethink. To avoid a looming landfill space shortfall, NSW is overhauling its waste to energy framework.
• Coal and gas pitch. Qld's Natural Resources Minister is heading to the US and Canada to promote the state's fossil fuel resources.
• Plastics pyrolysis. Victoria is assessing an application for a plant that would pyrolyse waste plastic into oil, and sell it to Viva or Singapore.
• 70 million tonnes. Schemes administered by the Clean Energy Regulator reduced greenhouse gas emissions by at least 69.2 million tonnes in 2024.
• Energy efficiency review. SA is consulting on next-phase targets for its energy efficiency scheme.
• Planning overhaul. Tasmania is consulting on a draft Bill that would allow certain types of developments to be determined by independent panels.
• Ecosystem accounts. The ABS and DCCEEW have for the first time released national accounts valuing the nation's ecosystem services.

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

ACCC Deputy Chair Mick Keogh has urged businesses not to shy away from talking about their sustainability credentials and achievements.

"I want to be clear today that the ACCC considers legitimate environmental claims to be enormously beneficial to consumers, to the effective functioning of markets, and to the green transition," Keogh told a sustainability reporting summit.

"Those that have made the effort to differentiate their products or services on sustainability factors should not hesitate to inform their customers and potential customers about this," he said.

"Just as greenwashing is a detriment to the proper functioning of markets, greenhushing also has the potential to stymie sustainability-based competition, and in doing so, slow the nation’s progress towards more sustainable environmental outcomes," Keogh said. 

DCCEEW and the Australian Bureau of Statistics have released Australia's first annual National Ecosystem Accounts.

In 2020–21, 5 Australian ecosystem services provided at least $85 billion to support our economy and wellbeing. This included:

• 34.5 million kilotonnes of carbon storage, valued at more than $43 billion, based on the ACCU price.
• 58.8 million megalitres of water. This is valued at $1.4 billion.
• Mangroves protected 4,006 coastal homes. This protection valued at $57 million.
• Saltmarsh protected 566 coastal homes. This protection valued at $8 million.
• 56.3 million kilograms of wild fish were caught by Commonwealth fisheries. This is valued at $39.2 million.
• 111.2 million tonnes of forage for grazing beef cattle and calves or sheep and lambs. This is valued at $40.4 billion.

Federal Environment Minister Tanya Plibersek has gazetted several Nature Repair instruments:

• the Nature Repair (Biodiversity Assessment) Instrument 2025, which provide a nationally consistent framework to describe and measure biodiversity outcomes.
• the Nature Repair (Replanting Native Forest and Woodland Ecosystems) Methodology Determination 2025, which specifies the conditions that must be met for projects to earn biodiversity certificates by replanting native forest and woodland ecosystems in modified landscapes.
• the Nature Repair (Applications for Approval of Registration of Biodiversity Project) Determination 2025, which specifies that people can apply to register a biodiversity project under the Nature Repair Market on or after 1 March 2025. 

Environment Minister Tanya Plibersek has authorised a $1 million grant to Clothing Stewardship Australia Ltd, to help implement a voluntary, industry-led product stewardship initiatives for clothing textiles.

"The program aims to demonstrate the readiness of industry-led stewardship models, collaborating along the length of the supply chain, to coordinate and deliver national pilot programs aligned to circular economy principles," says an explanatory statement.

The Clean Energy Regulator has released the latest annual data on emissions from entities covered by the NGER scheme.

The FY24 NGER data shows corporations emitted 303 million tonnes of direct (scope 1) emissions, and 74 million tonnes of indirect (scope 2) emissions.

The ten largest emitters account for 45.7% of reported national scope 1 emissions.

The Clean Energy Regulator has released its Quarterly Carbon Market report for the quarter ending December 2024.

In 2024, schemes administered by the Regulator are estimated to have reduced greenhouse gas emissions by at least 69.2 million tonnes, up 8% from 2023.

"This is a conservative estimate as it uses the average emissions intensity of the electricity grid rather than assuming renewables are solely displacing coal and gas generation," the report says.

In 2024, a record 7.5GW of renewable energy generation capacity was added to the grid, up from 5.3GW added in 2023.

"Looking ahead, the Regulator anticipates that renewable penetration in the NEM could reach 44% to 46% in 2025," it says. 

Overall ACCU market liquidity looks strong in the year ahead, with new ACCU supply for 2024 reaching 18.8 million and the 2025 new supply outlook expected to be between 19 and 24 million ACCUs, the report says.

The Regulator has also issued more than eight million Safeguard Mechanism Credits to facilities.

The Banksia Foundation has announced the finalists for its 2025 awards.

Award categories include agriculture and primary industries, biodiversity, the built environment and infrastructure, business services and solutions, the circular economy, diversity inclusion, energy innovation, and large business.

The Australian Office of Financial Management has released the first annual impact report for its $7 billion inaugural Green Treasury Bond, which was issued in mid-2024.

The federal government has released terms of reference and named members of a panel led by Dr Cathy Foley, which will advise on the atmospheric measurement of fugitive methane emissions from coal, oil, and gas operations.

The Coalition's nuclear power proposal would result in an additional one billion tonnes of emissions from the electricity sector, and likely at least that amount again economy-wide by 2050, according to new research from the Climate Change Authority.   

It would also result in Australia pursuing a pace of climate action that is consistent with a global pathway of around 2.6°C of warming, a level at which scientists, economists and governments anticipate major social, economic and environmental harm. 

In addition, it would result in Australia missing its legislated 43% national emissions reduction target for 2030 by more than five percentage points, and still not achieving this level of reduction by 2035.  

The Authority's research compared the Coalition's nuclear power proposal with the current national pathway, in which coal-fired generators are fully replaced by a mix of renewables and firming by 2040.

A House of Representatives inquiry into nuclear energy has released its interim report.

"The Committee heard that nuclear power is costlier to build than the readily available alternatives in Australia," the report says.

"The Committee also received compelling evidence nuclear power would cost consumers more to use. The Committee believes the evidence strongly indicated Small Modular Reactor technology is not yet commercially available and so is not a viable option for Australia's energy needs," it says.

"It is clear to the Committee from the evidence it received that there would be significant challenges associated with establishing a nuclear power generation sector in Australia before the mid-2040s, at the earliest," the report says.

The Coalition members of the committee included dissenting comments.

Consultation opportunity - ACCU Scheme. The Emissions Reduction Assurance Committee is seeking feedback on the ACCU Soil Organic Carbon Method, with comments due by 11 April.

The consultation is focused on compliance with the Offset Integrity Standards, and relevant advances in science and technology.

The federal government aims to release a plain English version of the proposed Integrated Farm and Land Management ACCU Scheme method by the end of March, with an exposure draft of the method due by mid-year, a DCCEEW official told Senate Estimates.

The IFLM method will "cover activities including native plantings, revegetation and soil carbon on farmland", the official said, adding that it would be the first ACCU method that allows the stacking of multiple credit-earning activities onto a single parcel of land.

The recently appointed Australian Energy Infrastructure Commissioner, former NFF chief executive Tony Mahar, has released his opening statement to a Senate Estimates hearing.

The federal government has granted licences to two proponents of offshore wind projects, which allow them to assess the feasibility of their proposals.

The licences have been granted to Novocastrian Wind Pty Ltd, for the Hunter offshore wind zone, and Spinifex Offshore Wind Farm Pty Ltd for the Southern Ocean offshore wind zone.

The 1.2GW Spinifex project would have sufficient capacity to meet 10% of Victoria’s electricity needs, and would be a source of renewable energy for the Portland aluminium smelter.

The Novocastrian project would have a capacity of 2GW.

Meanwhile, the Opposition has said it will abolish the Southern Ocean Offshore Wind Zone, in which the Spinifex project would be located, if it wins the upcoming election.

DCCEEW has released proposed amendments to the NGER emissions reporting scheme, with comments due by 11 April.

Proposed changes deal with matters including biomethane, and flaring at oil and gas operations.

The Australian Energy Market Operator has released a new explainer on its approach to scenario planning.

Consultation opportunity - Capacity Investment Scheme. DCCEEW has released a design paper on the WA tender under the Capacity Investment Scheme. Submissions are due by 31 March.

Grant opportunity - community energy projects. The federal government has invited applications under round two of the Community Energy Upgrades Fund, which supports local governments to lower energy energy bills, cut emissions, and make their communities more sustainable.

Grants of between $25,ooo and $2.5 million are available.

Grant opportunity - community batteries. ARENA is inviting applications for a share of $46.3 million in funding under round two of its Community Batteries Funding Program. Applications close on 30 April.

In round one of the program, ARENA approved $124.7 million to deploy 318 batteries in all states and the Northern Territory. 

Grants awarded - sustainable aviation fuel. ARENA has awarded a total of $10.4 million to two projects under its Sustainable Aviation Fuels Funding Initiative.

The largest grant will go to Licella, for a $26.1 million for a project to assess the viability of establishing a biorefinery facility in Bundaberg that would convert sugar mill residues to renewable fuels.

Another $2.4 million will go to Viva Energy for a $4.9 million project to recondition an existing tank at its Pinkenba Terminal to enable blended SAF supply into Brisbane Airport for commercial use.

Viva will also work with industry partners to develop a claim system so that customers can recognise the carbon reduction benefits of the SAF that is supplied.

The latest Quarterly Update of Australia’s National Greenhouse Gas Inventory: September 2024 is now available.

The report shows 434.9 million tonnes of CO₂-e were emitted in the year to September 2024. This is down 0.5% (2.2 Mt CO₂-e) compared with the previous year. 

Consultation opportunity - Guarantee of Origin scheme. DCCEEW is consulting on the first tranche of draft rules for the Guarantee of Origin (GO) scheme, which will track and verify emissions associated with low-emissions products and certify renewable electricity.

Comments are due by 27 March.

Finance provided - healthcare providers. The Clean Energy Finance Corporation is providing $20 million in finance to support a discount green loan product for healthcare providers, working with specialist Credabl.

The loan product aims to boost the uptake of energy efficient equipment and solar PV at dental practices, doctors' surgeries and other healthcare offices around Australia.

Developers can now apply for offshore electricity infrastructure transmission and infrastructure licences (TILs), and DCCEEW has published new guidance to support the application process.

Meanwhile, the Offshore Infrastructure Regulator has released a brochure to explain the design notification process for offshore renewables.

The health of the Great Artesian Basin, which holds 130,000 times more water than Sydnewhily Harbour, is improving, according to a new study released by DCCEEW.

The report showed improvements in Basin-wide scale groundwater pressure, and the number and condition of springs and groundwater dependent ecosystems. It also identified a decline in groundwater usage and extraction.

The Water Efficiency Labelling and Standards scheme (WELS) is inviting submissions on new products that should be regulated under the scheme. Nominations must be submitted by 14 March.

The Greens have announced they will make ending native forest logging a key demand if they have the balance of power after the upcoming Federal Election.

The federal government has announced grants totalling $10.4 million to support 14 new plantation projects through round three of the Support Plantation Establishment program.

The 14 projects will establish hardwood and softwood plantations in five states, with a total area of approximately 5,500 hectares.

Grant opportunity - hydrogen production. The federal government is offering grants of up to $1 million in round two of the Global Science and Technology Diplomacy Fund – Strategic Element (GSTDF-SE). 

The GSTDF-SE is designed to forge international science relationships with some of our closest partners in Brazil, Indonesia, Japan, Malaysia, Singapore, Thailand, Vietnam, New Zealand, and South Korea.  

Priority themes include hydrogen production.

Mr Tibau Stanley Lui has been appointed as the new First Nations member of the Great Barrier Reef Marine Park Authority Board.

Stan Lui is a Torres Strait Islander from Erub (Darnley Island) in the Kemer Kemer Miriam (top eastern Torres Strait) with academic qualifications in science, and an extensive track record advising on policies for the sustainable use and safeguarding of marine ecosystems of the Great Barrier Reef. 

Nominations close on 18 March for the Prime Minister's Prize for Aboriginal and Torres Strait Islander Knowledge Systems.

The prize is for an Aboriginal and/or Torres Strait Islander-led project that benefits Australian Indigenous peoples, communities, or places, and contributes to solving a significant challenge through the practice and preservation of Aboriginal and Torres Strait Islander knowledge systems.

A new international report by InfluenceMap on how the oil and gas and utilities industries are opposing electrification, includes an Australian case study that examines lobbying by groups including the Australian Energy Producers and the Australian Pipelines and Gas Association.

The Investor Group on Climate Change has released its 2024 Annual Report. 

Queensland's Minister for Natural Resources and Mines Dale Last will lead a Queensland delegation to the United States and Canada. 

"Queensland has world-class coal, gas and oil reserves, and this trade delegation will deliver a clear message to global investors, government officials and industry leaders: Queensland is open for business," Last said. 

The NSW EPA is consulting on proposed changes to the state's energy from waste framework.

The thermal treatment of waste that involves energy recovery is currently banned in NSW, unless it occurs in one of four specified regional precincts.

A discussion paper proposes amending the precincts where energy from waste projects are acceptable.

In particular, the changes would allow for a facility on the site of the former Wallerawany power station, where a Cleanaway-led consortium has shown interest in developing a facility that could combust 400,000 tonnes of waste annually for energy recovery.

The changes would also allow a facility to be established at Tomago, with the paper noting that Remondis had shown interest in developing a facility at its Tomago Resource Recovery facility.

In addition, they would empower the EPA to allow on a case-by-case basis waste to energy projects in any location that replace LPG, fossil gas, and LNG with energy recovered from waste.

The paper also proposes amending the definition of thermal treatment. Comments are due by 8 April.

The NSW EPA is consulting on updated guidelines regarding its resource recovery order and exemption framework, which guides decisions about the circumstances in which wastes can be re-used.

It is also consulting on a pathway to support innovative resource recovery.

Comments are due by 9 April.

AEMO Services has announced that three projects have been successful in its latest NSW Roadmap competitive tender for long duration storage, nearly tripling the energy storage capacity so far supported by the scheme.

The tender process requires proponents to competitively bid the pricing terms for a long-term financial support contract. The support payments top-up revenue the projects expect to receive from participating in the National Electricity Market. 

The three successful projects are made up of two batteries and, for the first time, a pumped hydro project. They have a combined capacity of 1.03GW and 13.79GWh of energy storage, exceeding the tender's indicative target of 1GW.

The three projects are ACEN Phoenix's 800MW/11,900MWh pumped hydro project, Enervest's 125MW/1,000MWh Stoney Creek battery energy storage system, and Eku Energy Projects' 100MW/800MWh Griffith battery energy storage system.

The NSW government has given planning approval for Hydrostor's proposed compressed air energy storage system at a disused mine in Broken Hill, which will have a capacity of 200MW/1,600MWh.

Hydrostor's $638 million Silver City Energy Storage Centre, which will be the first of its kind in Australia, could power about 80,000 homes in peak demand times, according to the state government.

Consultation opportunity - solar export restrictions. The NSW government is consulting on plans to create an emergency backstop mechanism for solar energy across the state, which would curtail solar exports during emergencies to prevent blackouts.

Comments are due by 7 March.

EPA Victoria has received an application for a development licence from a company that proposes to reprocess waste plastic into oil by pyrolysis.

APR ChemCycle's facility would process about 3,650 tonnes of waste plastic annually. The technology has not been used before in Australia, but APR ChemCycle has conducted a successful pilot trial.

Potential customers include Viva Energy, and Shell's Singapore refinery.

Victoria's Essential Services Commission has set minimum feed-in tariffs for 2025-26, including a minimum flat feed-in tariff of 0.04 cents per kWh.

The two time-varying feed-in tariffs range from 6.57 cents per kWh in the evening peak to 0.00 cents per kWh during the day.

Statutory development - planning. The Tasmanian government has released a draft Bill that would allow certain types of development applications to be determined by independent Development Assessment Panels (DAP), appointed by the Tasmanian Planning Commission.

The intention is to provide an alternate approval pathway outside of local government processes. Comments are due by 24 April.

The pathway would be available to application types to be prescribed by regulations.

Grant opportunity - EV charging station grants. The state government is offering grants of up to $50,000 for the installation of a public EV charging station, under round three of its ChargeSmart program. Grant applications must be submitted by 24 March.

Consultation opportunity - energy efficiency. The South Australian government is consulting on the next phase of the Retailer Energy Productivity Scheme (REPS), which subsidises energy efficiency activities in homes and businesses.

The consultation will support the determination of new thresholds and targets for the operation of the scheme from 1 January 2026 until 31 December 2029.

Comments are due by 31 March.

New listings are in blue.

The EU Commission has released its Clean Industrial Deal, designed to accelerate decarbonisation, while securing the future of manufacturing in Europe.

It includes a proposed Industrial Decarbonisation Bank, aiming for €100 billion in funding, and an increase InvestEU's risk bearing capacity, to mobilise up to €50 billion in additional private and public investment.

It also proposes adopting a Circular Economy Act in 2026 to accelerate the circular transition, with the aim of having 24% of materials circular by 2030.

An extended session of the COP16 biodiversity talks has ended in Rome, with countries agreeing to mobilize at least US$200 billion annually by 2030 for biodiversity conservation in developing nations.

A hard-fought agreement was reached to explore creating a new global biodiversity fund under COP governance, resolving tensions between developing nations (advocating for a dedicated fund) and donor countries (preferring existing structures like the Global Environment Facility).

The UK Climate Change Committee has issued its seventh climate budget report.

The Committee recommends that the UK reduce emissions to 87% below 1990 levels by 2040, and shows how this could be done.

Carbon Tracker has released a report on the opportunities of transitioning the global heavy-duty vehicle fleet to electric vehicles, and the financial implications.

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