Demand for coal and gas in light of the Paris Agreement – what this means for Australia
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 presented and discussed with the audience a range of perspectives on what this means for Australia’s economy, its businesses and policy makers.