Gord Price will be in Australia for the next month. Follow his coverage here and on Instagram (gordonpriceyvr).
More evidence from the Sydney Morning Herald on how deeply unserious some decision-makers can be, even after declaring a climate emergency and living through a national trauma that validates the urgency. It is the gap between lack of action and the desire for strategic change that makes this story extraordinary.
The world’s largest coal port wants to transition away from coal – but because of government policy, can’t do it.
The head of the world’s largest coal port says it must transition away from the fossil fuel and diversify Newcastle’s economy before it’s too late, but controversial NSW government policy is stopping it.
As the government worked to improve its climate policy following a summer of drought and bushfires, Port of Newcastle chief executive Craig Carmody said $2 billion of private investment was waiting for the green light to develop a container terminal and move the Hunter away from coal.
However, a once-secret facet of the Baird government’s 2013-14 port privatisation deal – which would force Newcastle to compensate its competitors if it transported more than 30,000 containers a year – could keep the local economy tethered to coal for decades.
Mr Carmody said the port had about 15 years to transition away from the resource, which makes up more than 95 per cent of its exports. He added that a changing climate and struggling regional sector compounded the situation.
Here’s the kicker:
“It doesn’t really matter what governments in Australia want to believe, the money we need to do what we need to do have already made their decisions,” Mr Carmody told the Herald.
“There is a reason why businesses, particularly in the energy space in Australia, are saying, ‘Well, if the government won’t provide a policy direction, then we’re going to go off and do it ourselves’.”