Latest news with #greenindustries
Daily Mail
6 days ago
- Business
- Daily Mail
BREAKING NEWS Anthony Albanese's government considering a new Donald Trump style tariff: What it means for you
Teaming up with other regional economies to impose tariffs on carbon-intensive iron and other goods has been pitched as key to Australia's future as a major player in emerging green industries. The case for Asian carbon border tariffs has been made by think tank Climate Energy Finance days after the federal energy minister signalled openness to charges at the border on emissions-heavy steel and cement. Carbon border adjustment mechanisms, known as CBAMs, can level the playing field for heavy industries subject to domestic carbon pricing. Without them, steelmakers and other producers may choose to move factories offshore to countries with less stringent regulations on pollution, a problem known as 'carbon leakage'. The European Union has been leading the charge and its carbon border adjustment mechanism is scheduled to come into full force in 2026. There was a strong case for an Asian equivalent building on the 17 domestic carbon pricing schemes already across the region, Climate Energy Finance net-zero transformation analyst and report author Matt Pollard said. This includes Australia, which forces big polluters to pay a carbon penalty if their emissions are above a certain threshold via the safeguard mechanism. China, South Korea, Japan and Singapore also have carbon pricing in some shape or form. With most emissions-intensive goods produced in Asia for export traded within the Asia Pacific, a regional border mechanism would effectively function as a price on carbon in international trade. 'As a result, lower-emission products can more effectively compete against higher-emissions products in a global market,' Mr Pollard explained. The think tank wants Australia to spearhead the conversation as part of its bid to co-host the COP31 climate summit alongside Pacific nations. Climate Change and Energy Minister Chris Bowen would not rule out the possibility of carbon tariffs on specific sectors, such as steel and cement, during an interview on ABC's Insiders on Sunday He cited an ongoing review into carbon leakage headed by Australian National University climate change economics expert Frank Jotzo. 'We want to ensure Australian industry is best placed to compete in a decarbonising world,' he said on Sunday. Opposition energy and emissions reduction spokesman Dan Tehan criticised the minister for floating the idea immediately after winning the federal election. 'He's put electricity prices up, he's put gas prices up, and he's put emissions up, and now he wants to follow Donald Trump's lead and put in place tariffs,' Mr Tehan said on social media platform X on Sunday. Mr Pollard rejected the comparison to the US president's 'erratically applied, economically and industrially destructive and investment-deterring' tariff agenda. 'Carbon border adjustment mechanisms are not discriminatory, and enhance globalisation, international collaboration and climate action - which is intrinsically a global problem,' he said. While they are tariffs by nature, carbon border adjustment mechanisms have the opposite objectives of the Trump administration's trade policies that are designed to 'enhance protectionism and isolationism'. The push for regional Asian carbon tariffs was welcomed by groups like clean energy industry body Smart Energy Council and economic think tank The Superpower Institute.
Times of Oman
17-05-2025
- Business
- Times of Oman
Duqm Economic Forum to kick off in October
Duqm: The Public Authority for Special Economic Zones and Free Zones will organise on 27 and 28 October 2025, the second edition of Duqm Economic Forum with the participation of a number of investors and decision- makers from within and outside the Sultanate. Ahmed bin Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones, who is also chairman of the Supervisory Committee of Duqm Economic Forum, said that organising the second edition of Duqm Economic Forum comes following the success of the first forum held in October 2023. It witnessed the signing of many agreements and memoranda of understanding in the green industry sectors as part of the efforts of the Public Authority for Special Economic Zones and Free Zones aimed to achieve the goals of the Sultanate of Oman in the field of carbon neutrality. He said that the Duqm Economic Forum 2025 would focus on three key pillars that reflect the strategy of the Special Economic Zone Authority- Duqm in boosting the targets of Oman Vision 2040 in terms of economic diversification; driving transformation towards the green industries in Oman towards investment and the sustainable development. The first pillar of the forum is titled 'The green industries and finance'; the second pillar is titled 'tourism and smart cities' and the third pillar is titled 'Artificial Intelligence Solutions', he added. The Special Economic Zone at Duqm (SEZAD) is an attractive investment destination, which succeeded in attracting and establishing strategic economic partnerships in key fields such as renewable energy, green hydrogen, green industries, fisheries and petrochemical industries. -ONA
Zawya
13-05-2025
- Business
- Zawya
Building green industries to scale green economies: How Namibia has set the pace for Africa's green industrial revolution?
As global energy demand soars, driven increasingly by non-traditional sources including climate change and artificial intelligence (AI), energy security has never been more disrupted. Geopolitical tensions, trade barriers, and supply chain volatility have converged into an unprecedented intersection that pose a stark challenge to the energy transition. For Africa, the tumult is both a challenge but also offers an exceptional opportunity to reimagine its industrial development pathway while creating millions of jobs, fostering innovation, and preserving its rich natural ecosystems. Energy is at the heart of Africa's growth story and the cornerstone of Africa's economic transformation. The continent is on the brink of a major energy evolution, poised to supercharge the rising electricity demands of over 1.5 billion inhabitants, while propelling long-term socio-economic growth. Africa is taking bold steps to build green industries that will scale green economies across the continent, marking a transformative shift toward climate-resilient development, inclusive growth, and long-term prosperity. With an emphasis on green energy, circular economies, and sustainable industrial practices, African governments, private sector actors, and international partners are collaborating to catalyse green industrialisation and unlock the continent's vast green economic potential. At the heart of Africa's green transformation is the African Union's Agenda 2063 and the African Continental Free Trade Area (AfCFTA), both of which provide a blueprint for sustainable industrialisation, intra-African trade, and value chain development. Building on these frameworks, African leaders are embedding green principles into national and regional industrial policies to ensure economic growth does not come at the cost of environmental degradation. 'African countries have a unique opportunity to leapfrog traditional, carbon-intensive industrial models by investing in green industries that are climate-smart, resource-efficient, and future-proof,' states Dr. Amani Abou-Zeid, AU Commissioner for Infrastructure and Energy, 'We are not just responding to the climate crisis – we are turning it into an engine of innovation, resilience, and inclusive development.' Renewable energy is at the heart of Africa's green industrialisation strategy. By harnessing its diverse natural resources through the increased adoption of renewable energy sources including solar, wind, geothermal and hydropower, Africa can sustainably bring an end to energy poverty whilst unleashing large-scale green industrialisation. The continent has a tremendous opportunity to harness its diverse natural resource mix to establish energy security to its 1.5 billion inhabitants, provide energy access to over 900 million inhabitants, enable clean cooking to those 600 million without, and become a global leader in green energy generation. Hydrogen is a key to fuelling Africa's green industrial revolution. From decarbonising oil & gas, mining operations and heavy industry including cement, steel and heavy haulage, to transforming power generation, clean cooking and transportation, hydrogen and its derivatives are unlocking a new era of sustainable growth across Africa. Stimulating economic development through inclusive education and employment, and empowering societies to become more sustainable, equitable and resilient, hydrogen is more than energy; it is a catalyst to building green industries that can scale green economies. Namibia remains a trailblazer in the hydrogen space with up to five Final Investment Decisions (FID) scheduled to be made in 2025 / 2026. Namibia has demonstrated African leadership on the global stage by pioneering a world first for green industrialisation. At the recent Oshivela grand opening celebration, Her Excellency Netumbo Nandi-Ndaitwah, President of the Republic of Namibia, inaugurated the HyIron project which achieved the world's first zero-emission iron breakthrough. From ambition into action the HyIron team have fired up a game changer by showcasing how the Oshivela project can produce green hydrogen and use it to refine iron ore, setting a carbon-free standard for steel production. In a world hungry for sustainable solutions, Namibia's HyIron is not only a first for Africa but a world first, where project off-take was key. 'Actually, the biggest thing we can do is to become competitive to grey iron. So iron produced at emissions at the same prices. And that's where we work very hard towards. So we optimise the supply, we optimise power prices or the generation prices of our power. We do a lot of these things, a lot of this work now in preparation to reach this goal, because then off-take will not be a question, because if you can choose for the same price, a grey or a green product, the choice will be obvious.' reflected Johannes Michels, Managing Director of HyIron on stimulating demand and end-use over the coming years for the project. As the world falters on to net-zero targets, Africa's commitment to green industrialisation positions it not just as a beneficiary of the global energy transition, but as a key player in shaping the future of sustainable development. The movement toward green industries is not merely about technology or finance – it is about equity, just access, and creating a brighter future for all Africans. By building economies that are both green and inclusive, Africa is charting a bold path that could redefine industrialisation in the 21st a champion of fuelling Namibia and Africa's green industrial revolution, the sequel edition of the Global African Hydrogen Summit taking place from 9 – 11 September 2025, in Windhoek, Namibia, will aim to unlock the challenges and fast track the opportunities. Held under the theme Ambition in Action: Fuelling Africa's Green Industrial Revolution, the Summit will provide a continuity of leadership and dialogue to drive partnerships for, and critical investments and financing into, bankable green energy projects of strategic and national importance across over 1,500 global attendees the Summit sits at the heart of Africa's green industrialisation conversation – a leading platform that has the power to convene global heads of government, policymakers, industry leaders, innovators, investors and end users annually in Africa. 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