23 September 2021 Impact Report September 23, 2021 By AMPLA Admin General 0 2021 Impact Report - rising to the challenge Related Articles The impact of coronavirus on the energy and resources industry The last few weeks have seen the world face an unprecedented disruption with the novel coronavirus (COVID-19). First reported in China, we’re now seeing many countries shutting down for periods of time to try to contain the spread of the virus. Australia is facing a particularly difficult year given the bushfires that ravaged the country recently. Now with COVID-19 adding to the pain, the energy and resources industry is being impacted in several ways outlined below. Key risks for the industry in 2021 As 2020 draws to a close, industry is looking to the year ahead. EY's 2021 report on the risks in mining and metals reflects the turbulent changes of the past year. Volatility is new to the list, while the COVID-19 pandemic continues to inform the way industry leaders are approaching established risks around climate and license to operate. Submission - Consultation on the Offshore Petroleum and Greenhouse Gas Storage Amendment (Titles Administration and Other Measures) Bill 2021 Final Report of the Independent Review of the Environment Protection and Biodiversity Conservation Act The Final Report of the Independent Review of the Environment Protection and Biodiversity Conservation Act 1999 (the EPBC Act) has now been released to the public. The report, delivered by Professor Samuel, contains 38 individual recommendations to be implemented over two years. In a recent media release, the Minister for the Environment, Sussan Ley, said that 'the Government was committed to working through the full detail of the recommendations with stakeholders.’ Implications of the Interim report on Commonwealth environmental protection laws Professor Graeme Samuel recently released his Interim Report of the Independent Review of the Environment Protection and Biodiversity Conservation Act 1999 (the EPBC Act). The report is highly critical of the EPBC Act, reporting that it neither ensures effective environmental and biodiversity protections nor efficiently regulates business. In the report, Professor Samuel makes several recommendations, some of which have already become priority areas for the government. These have significant implications for the energy and resources industry. How foreign investment changes may impact the mining and energy sector In early June 2020, the government announced a review of the foreign investment rules, expanding them to apply to all foreign investors in anything deemed a ‘sensitive national security business’. The changes are scheduled to come into effect on 1 January 2021. There are concerns that this will impact foreign investment in the mining and energy sectors, and in particular the critical minerals space. Showing 0 Comment Comments are closed.