New Economy Forum
Where Cheap Power Matters More Than Environmental Armageddon
- Australia lags behind in energy transition away from coal
- Lack of policy clarity hurting investment in new power sources
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Few places better illustrate the tension between pursuing profit and tackling climate change than Australia’s Abbot Point port in northern Queensland.
It’s here, 30 miles from the Great Barrier Reef, that Adani Enterprises Ltd. wants to increase capacity so it can ship more coal from a new A$2 billion ($1.4 billion) mine nearby. The expansion faces opposition from environmentalists, who say it will endanger the health of the reef, one of the seven wonders of the natural world, but has been backed by the government along with the new mine.