Demand for coal and gas in light of the Paris Agreement – what this means for Australia | Grattan Institute
Australia signed up to the Paris Agreement in December 2015 that committed to holding the increase in the global average temperature to well below 2 °C above pre-industrial levels. The USA and China have ratified the Agreement. Australia signed the Agreement in April and is committed to ratifying by the close of 2016. The International Energy Agency’s World Energy Outlook report indicated that if the world’s governments meet this commitment, then the global demand for coal and gas follows a very different path from that contemplated in the 2015 Energy White Paper and in the planning of many Australian resource and energy companies.
In this State of Affairs event co-hosted by UQ Energy Initiative and Grattan Institute, a panel of experts will present and discuss with the audience a range of perspectives on what this means for Australia’s economy, its businesses and policy makers.
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Market Inflection Points | Governance Direction
Rapid changes in market dynamics have a material impact on the success of businesses. International agreements to limit global warming will restrict the amount of fossil fuels that can be burned in the future. This may create difficulties for the fossil fuel industry, including ‘stranding’ assets.
Author: Ben Scheltus, CEO, Climate Alliance Limited
Re-printed with the kind permission of the Governance Institute Australia