News: Sustainable business disillusioned with government energy plan

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News Release

17 October 2017

Sustainable business disillusioned with government energy plan

Australia’s peak body for sustainable business today expressed disappointment at the Government’s energy plan, saying the country still lacks a viable long-term strategy to deliver energy securely, reliably and sustainably in line with internationally agreed emissions reduction targets to meet obligations under the Paris Agreement.

Sustainable Business Australia, Chief Executive, Andrew Petersen said the government should have been looking at a holistic response to Australia’s energy needs with a robust and ambitious investment plan to deliver sustainable energy.

“There’s two key issues in energy policy. First there’s the short term secure supply of electricity and then there’s the medium to long-term issue of a decarbonised energy system for the future.

“Today’s announcement may well ensure supply. It is not, however, a medium term to long-term sustainable solution for this our energy needs. It is definitely no signal to business and finance to invest, create jobs or bring innovation to our 20th century energy system.

“Coal fired electricity generation, in any form, is not a sustainable business. What Australia still needs is a long-term strategy for the secure supply of energy utilising renewables driven by solar, wind, thermal, wave and hydro generation and battery storage, as well as a comprehensive rethink of the future purpose of our network. The Finkel Report did this.

“In addressing the needs of current and future generations of Australians, we must play an active role in our international commitments to reduce emissions, become net zero carbon by mid-century and therefore limit global warming to no more than 1.5 degrees and honour our promise to implement the Sustainable Development Goals.

“While today’s announcement seems to secure the short-term supply of electricity, it is not sustainable and once again only adds to a decade of wasted opportunities in the energy policy debate and development in this country.

“Sustainable energy is the future; we have the potential to be a super-power and we can create dynamic new industries, new skills, and new markets. Regrettably, a blueprint for a decarbonised energy future is missing from today’s announcement,” Mr Petersen said.


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Updated: 17 October 2017

 

WBCSD releases Reporting matters and highlights SBA’s involvement

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Geneva/London/Mexico City 16 October 2017: Spanning 157 leading companies from more than 20 sectors and 35 countries, this year’s research points to positive progress in corporate reporting and disclosure as well as a continued movement towards digital reporting.

74% of WBCSD member company reports reviewed improved their overall score compared to baseline year 2013, despite pressure to strike the balance between stakeholder needs and increased disclosure requirements.

Despite progress, however, companies still face increased pressure to report on a growing number of disclosure requirements, while also meeting the needs of a wider variety of key stakeholders. Companies must find ways to meet the challenge, making sure all reported information is concise and meaningful.

Reporting matters helps companies meet the challenge by providing good-practice examples as well as general trends and benchmarks over the past five years. This is particularly useful to business because insights can be shared across sectors for collective improvement.

Download the report at the WBCSD web site.


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Updated: 17 October 2017

Preview Briefing Series – COP23


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Information

The United Nations Framework Convention on Climate Change (@UNFCCC) will next meet in Bonn, Germany, from 6 to 17 November for COP23 (@COP23) – the 23rd Conference of the Parties.

Leading up to the conference, SBA is providing briefings twice a week on key issues and their implications for business and government.

The briefings are made possible due to the support of the Carbon Reduction Institute.

Our Preview Briefings Series are on our COP23 page.


Updated: 13 October 2017