Australian company directors have long had legal obligations to identify, disclose and manage material financial risks to the company. Where risks result from climate change, or from measures to mitigate climate change, they have an obligationto address and report these.
But until now there have been no clear rules on how to report.
A new proposal from TreasurerJim Chalmerson which the government wants comment byFebruary 17will require a standardised internationally‑aligned form of disclosure of climate‑related risks and opportunities, phased in from 2024-25.
The world’s first Hydrogen Act was passed by the South Australian parliament.The act seeks to streamline the regulatory process for hydrogen and renewable energy projects across the whole project life cycle. It is designed to be technology agnostic with regards to the production of hydrogen.As such, hydrogen production processes that use fossil fuels as a feedstock will be regulated under the Act, potentially gaining much faster approvals. Projects relating to the extraction of naturally occurring hydrogen deposits are not covered.https://www.inkl.com/a/JwoWrkfNQB
On October 23, 2023, President Biden announced 31 areas in the USA as Technology Hubs (Tech Hubs).
The 31 Tech Hubs will develop and grow innovative industries such as semiconductors, clean energy, critical minerals, biotechnology, precision medicine, artificial intelligence, quantum computing, and more.
Groups including private industry, state and local governments, institutions of higher education, labor unions, tribal communities and nonprofit organizations may apply for $75 million implementation grants to develop these fields even further and make transformative investments in innovation, supply chain resilience, and job creation.