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Nearing Net Zero 2024

25 June 2024

The pressure on businesses to decarbonise is growing and will continue to intensify as security, affordability and sustainability of energy systems becomes key issues.

The energy market of the future, including energy infrastructure and generation, will look vastly different from what it looks like today, presenting compelling opportunities and complex challenges for industry to navigate.

However, despite the opportunities arising from decarbonisation, making the transition is a complex and requires significant strategic consideration.

To help navigate this rapidly evolving space, Ashurst is pleased to launch the Nearing Net Zero vodcast series. In this series, Partners Elena Lambros and Dan Brown dissect the latest regulatory and legislative developments driving forward the decarbonisation agenda.

Whether your organisation is meeting regulatory obligations, engaging with customers, developing technologies or investing in innovation, we can help you navigate today’s fast-changing sustainability and energy landscape. For further information on Ashurst's sustainability and energy transition credentials please click here.

Latest episode

Formula 1 and the race to net zero

In 2019 Formula 1 announced a commitment to be net-zero carbon by 2030 as part of a wider Sustainability Strategy, setting ambitious targets from “factory to flag”.

Tune into the latest Nearing Net Zero episode as Dan Brown and Elena Lambros consider how innovation is effectively being harnessed by the Formula 1 to achieve its ambitions.

At Ashurst we are pleased to be the official legal partner of McLaren and are excited at the prospect of continuing to outpace change in the race to decarbonise and combat climate change.

Video series

Renewable energy project delays

Uncertainty on planning process timeframes and outcomes has become a leading cause of delay to renewable energy projects in Australia. Last year, Australia experienced a significant reduction in the number of renewable energy projects reaching financial close.

This delay has also been compounded by increasing social license issues, supply chain disruption and lack of skilled labour.

Tune into the latest Nearing Net Zero episode as Dan Brown and Elena Lambros consider what steps the Federal and State Governments have been making to streamline this process.

Introduction of fuel emissions standards

On 21 December 2023, the Federal Government released new fuel and vehicle emissions standards, set to take effect from 2025. The standards aim to limit greenhouse gas emissions from Australia's fleet of cars by setting a maximum average level of carbon emissions allowed by new vehicle manufacturers.

Tune into the latest Nearing Net Zero episode as Dan Brown and Elena Lambros consider the implications of the standards and how it compares globally.

Green and gold – Future made in Australia Act

The Albanese Government announced a suite of incentives and subsidies for 'advanced manufacturing' and 'clean energy' projects on 11 April 2024. These incentives and subsidies are being packaged through the Future Made in Australia Act ('FMAA') which aims to revitalise manufacturing in Australia by turbocharging the production of renewable and low emission technology.

Tune into the latest Nearing Net Zero episode as Dan Brown and Elena Lambros unpack what the Act aims to achieve, the drivers for implementation, its scope and the markets commentary. See insights page

Water and the energy transition

Continued enhancement of the water grid and adoption of green technologies will be critical to meet future demands and help fuel the transition broadly.

Tune into the latest Nearing Net Zero vodcast in which Dan Brown and Elena Lambros consider the role of water in the energy transition, and unpack South East Queensland Water's plan for continued to access a safe, secure and resilient water supply now, and for generations to come. See insights page

Powering change

The fourth edition of the Ashurst Powering Change report highlights that nearly two thirds of senior business leaders expect their organisation's investment to flow away from traditional fuels and towards renewable energy at an accelerated pace over the next 12 months.

For further analysis of the report, tune in to the latest episode of Nearing Net Zero, as Dan Brown and Elena Lambros consider the investment trends fuelling the transition and the associated obstacles. See insights page

ESG updates for 2024

The need to rapidly accelerate the transition to cleaner energy is now more important than ever.

In Australia, the Government is driving the decarbonisation agenda across a number of initiatives at both a Federal and State level. Tune into the latest Ashurst Nearing Net Zero vodcast episode in which Elena Lambros and Dan Brown discuss the latest regulatory and legislative developments fuelling the transition. See insights page

This publication is a joint publication from Ashurst Australia and Ashurst Risk Advisory Pty Ltd, which are part of the Ashurst Group.

The Ashurst Group comprises Ashurst LLP, Ashurst Australia and their respective affiliates (including independent local partnerships, companies or other entities) which are authorised to use the name "Ashurst" or describe themselves as being affiliated with Ashurst. Some members of the Ashurst Group are limited liability entities.

Ashurst Australia (ABN 75 304 286 095) is a general partnership constituted under the laws of the Australian Capital Territory.

Ashurst Risk Advisory Pty Ltd is a proprietary company registered in Australia and trading under ABN 74 996 309 133.

The services provided by Ashurst Risk Advisory Pty Ltd do not constitute legal services or legal advice, and are not provided by Australian legal practitioners in that capacity. The laws and regulations which govern the provision of legal services in the relevant jurisdiction do not apply to the provision of non-legal services.

For more information about the Ashurst Group, which Ashurst Group entity operates in a particular country and the services offered, please visit www.ashurst.com

This material is current as at 25 June 2024 but does not take into account any developments to the law after that date. It is not intended to be a comprehensive review of all developments in the law and in practice, or to cover all aspects of those referred to, and does not constitute legal advice. The information provided is general in nature, and does not take into account and is not intended to apply to any specific issues or circumstances. Readers should take independent legal advice. No part of this publication may be reproduced by any process without prior written permission from Ashurst. While we use reasonable skill and care in the preparation of this material, we accept no liability for use of and reliance upon it by any person.

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