Potential changes to Environmental, Social and Governance reporting

Environmental, Social and Governance (ESG) isn’t new to Australia, but it’s expected to become a more important aspect of business in the coming years. With shareholders and institutional investors paying close attention to business activities with an ESG lens we can expect more focus on this area. A recent example is the HESTA superannuation fund choosing to very publicly vote against the AGL demerger proposal on ESG grounds.

ARELJ Article- Decommissioning Liabilities - For whom the bell tolls?

What to expect from the new Australian government?

In May, the Australian Labor Party (ALP) achieved a majority government while the Greens and independents hold the balance of power in the Senate. This signals a new era for Australia, with voters clearly putting climate change high on the agenda for the next three years.

ARELJ Recent Development- Transitioning Section 18 Aboriginal Heritage Act 1972 Consents Under the Aboriginal Cultural Heritage Act 2021 of Western Australia

Trends in the Australian renewables market

In its Australian Renewables Report 2021, MinterEllison looks at trends in the renewable energy market and identifies opportunities for the future.

A gas-led recovery is on the way

The COVID-19 pandemic hit the Australian economy hard. In the March and June quarters of 2020, GDP plunged 7.3%, placing the country into recession. While the economy has since partially rebounded, the government has developed a long term plan for a gas-fired recovery.
 
The economic benefits could be significant. A recent Ernst & Young report found that the oil and gas industry could boost the economy by over $350 billion and create 220,000 new jobs over the next 20 years if key projects are supported.
 
This will be delivered across three key areas. Of the measures outlined, some are well on the way with others yet to come.
 

Women in mining

International Women’s Day was celebrated on March 8 across the world. To coincide with this, the Australasian Institute of Mining and Metallurgy (AusIMM) surveyed over 500 people who work in resources to better understand how women experience work in the mining industry, and the results were surprising.

New developments in the hydrogen industry

We can expect significant legislative reform for the hydrogen industry in the near future. This follows a review of all Australian laws (both Federal and State) in 2019 that found there were approximately 730 pieces of legislation and 119 standards related to the industry and recent developments that are seeking to develop the industry further.

Amendments to Native Title Act give industry stability

Recent amendments to both the Native Title Act 1993 (Cth) and the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth) (CATSI Act) are intended to better resolve Native Title claims and provide stability for industry.

The Native Title Legislation Amendment Act 2020 addresses the problems caused by the McGlade decision as they relate to ‘right to negotiate’ agreements or section 31 agreements.

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.’