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G7 nations: Is this the end of coal? | ticker VIEWS



The recent G7 summit in the UK, makes a historic move towards phasing out coal.

This week on Ticker Climate, Energy Expert Scott Hamilton and Ticker News Presenter Holly Stearnes, speak with German Energy Agency’s (DENA) Managing Director Kristina Haverkamp. Unpacking the G7 Summit from a climate perspective and what it means for climate change and the race to zero emissions.  

Certain left leaning groups are suggesting the G7 Summit is another lost opportunity, to halt climate change. Although, Haverkamp, a leader in the renewable energy space says, “the results are satisfactory”. 

For the first time, the role of coal in global warming has been specifically mentioned in the G7 official statements saying its “the single biggest source of greenhouse gas emissions”.

The seven nations are agreeing on tough new measures to phase out the biggest contributor to global warming. The G7 statement also stating that “international investments in unabated coal must stop now and we commit now to an end to new direct government support for unabated international thermal coal power generation by the end of 2021.”

Scott Hamilton says phasing out the number one contributor is a critical action.

“A range of urgent policies were agreed, chief among them being the phasing out coal burning, unless it includes carbon capture and storage.”

Scott Hamilton

All seven major industrialised nations including the UK, US, Canada, Japan, France, Italy and Germany have previously agreed to meet the goal of net zero emissions by 2050, and to stop funding for coal power by the end of this year.

Germany has recently increased its level of ambition to achieve climate neutrality by 2045. Also, agreeing to a 68% reduction in emissions by 2030. Having already commenced the phase out of coal fired electricity generation, it now appears it’s happening much quicker in Germany, than anticipated. The previous coal closure target was set at 2038. 

Haverkamp reiterates that Germany is well on track to end coal fired electricity generation, ahead of schedule.

“We will probably be already out of coal fired electricity generation…by 2030”

Kristina Haverkamp

Farewell to a prominent leader

It’s the end of an era for German Chancellor, Angela Merkel, as she prepares to step down, after serving 16 years for her country. Working with global leaders, in the face on many challenges, Merkel is an iconic leader, that will be sorely missed. Haverkamp says Merkel’s climate leadership is admirable. 

“Chancellor Merkel has done a great job. In particular, for the climate and her moderate approach at finding concentral, moderated solutions for societal challenges, have been a prerequisite our moving forward in the energy transition.”

Kristina Haverkamp

Is Australia lagging behind the rest of the world? 

When its comes to climate change action, Australian Prime Minister Scott Morrison, is consistently criticised for his lack of commitment. He tries to talk up the level of action being taken by his Government fighting climate change. Although, despite the relatively weak 2030 targets and failure to give a clear commitment to net zero emissions by 2050.

Morrison told the G7 that Australia has already cut emissions by 20%. Although, he seems leaving out that he relies on changes to land use clearing, for the overwhelming majority of the reductions.

Emissions in almost every sector of the Australian economy are rising. This is all except in electricity generation, which is mostly due to cheap solar power and action from state and territory Governments.

In a major miss-step, Morrison fails to secure a highly anticipated one-on-one meeting with US President, Joe Biden. The Australian Prime Minister needs to get on the same page when it comes to climate change, if he wants to be included in vital meetings with other world leaders.  


[Graphic credit: The Australian Institute]

Germany and Australia sign deal on hydrogen production

Germany and Australia officially sign a bilateral alliance on hydrogen production and trade to try to facilitate a renewable energy-based hydrogen supply chain, between the two countries. 

Scott Hamilton says Germany is head and shoulders above others, when it comes to promoting renewable hydrogen and global powerfuels.

“Germany has a 9 billion euro plan and a thirst for renewable hydrogen.”

Scott Hamilton

Australia has the potential to be a global renewable energy exporting superpower. Let’s hope he realises the countries opportunity before the Glasgow Conference later this year. Australia should want special one on one meetings and to be in the room when real climate change negotiations happen. 

Watch the full episode of Ticker Climate here:



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Five reasons it’s so expensive to travel right now



We’ve been waiting years to go on holiday, but wow it’s expensive to fly. Here are the five reasons it’s so expensive to travel right now

Remember the good old days of competition in the travel industry? Those were the days. Now every time you look to book a flight, the prices are soaring. Even if you want to use your points.

The airline industry is complex, so a total shut down of the industry was always going to have long term effects. The long hangover from the shutdowns and lockdowns are with us.

So let’s break down the five key reasons your flight is so expensive.

“Revenge travel”

It’s not just you who wants to go overseas and change up the scenery. Everyone else is thinking the same thing.

And as the northern hemisphere enjoys its first lockdown free summer in years, everyone is clamouring to use all that saved up cash, topped up with government assistance, to spend on flights.

The simple supply versus demand philosophy means it’s become an airline’s dream to push up prices while often pushing down the value of the ticket. How bad are those airline meals at the moment?

Big planes are grounded

Remember the good old 747 and A380s? Well you’re doing well to find a 747 in the skies these days. The last remaining airlines that were operating them used the cover of COVID to either reduce their fleet of the ageing Queen of the Skies, or retire them altogether.

Then there’s the A380, which is integral to huge airline flees like Emirates.

They were first to go into storage in the desert in 2020 as the pandemic hit. Airlines noticed its often cheaper to fly two 787s on the same route as an A380. So they are begrudgingly bringing the super jumbo back, but only once all their 787s are back in service first.

Don’t you just long for the days of extra space on a plane?

Rocketing fuel prices

In some cases, spot prices for aviation fuel has soared to 80 per cent! Airlines usually rely on hedging fuel prices (as in locking the price in in advance). But not many carriers in Asia do that, meaning they are at risk of fluctuating oil prices.

Airlines have a simple strategy for dealing with rising fuel prices – passing the cost on to consumers. Some passengers flying out of Asia are finding that a flight to London in economy is now $5000, five times the price.

The war in Ukraine hasn’t helped matters either, with Russian oil now missing from the global supply chain. That’s pushing up the cost of resources everywhere, and there’s no sign that’s about to end.

Lack of staff

Airline staff get COVID too, and in some (hilarious) cases, front line staff are returning to stop working from home!

Airlines have rules in place regarding how many flight attendants and pilots need to be on board an aircraft. And with so many different types of planes in service, some flight attendants can only work on certain aircraft types.

That severely limits the capability of airlines to quickly man aircraft in an emergency. And one cancellation snowballs into a travel nightmare.

Airports are struggling too. Lack of maintenance at baggage carousels and airport equipment means some airports are relying on just one vehicle to help every plane back out of a gate.

Remember when the pandemic hit and airlines sacked thousands of workers? The airlines didn’t think they would need them all back so quickly, and highly skilled pilots went on to find other, perhaps more stable jobs.

Accountants taking over

Airlines are big businesses with gigantic overheads. Think of the cost of a plane, which often reaches over $300 million.

Then add the cost of airports, fuel and staff.

Qantas had a debt bomb of $6.5 billion at the height of the pandemic, and while governments have been throwing money at airlines to stay in business, they still are a business.

Airlines need to make a profit, they need to return value to shareholders, and they need to pay down debt to stay financial. Not to mention cashflow.

So regardless of the airport queue, or the soggy sandwich you’re eating in business class, think of the balding accountants praying for good news.

And keep your eye out for some bargains. It’s not all doom and gloom. Some airlines are even allowing you to burn your points on upgrades. So why fly economy?

And if you can hang on a few months longer, you might enjoy cheaper fares. But no promises.

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Disney vs Netflix – who will win the streaming revenue raise?



Netflix and Disney shares fall as the streaming companies fight to stay on top of their game

Investors to evaluate Walt Disney’s shift from cable television to subscription service as the company’s shares fall by 31 percent.

This comes after Netflix announced its first ever decrease in subscribers last month. The company reported a loss of 200,000 subscribers in its first quarter while predicting more losses ahead.

Netflix’s decision to suspend its services in Russia also led to a loss of 700,000 subscribers. It’s shares have also fallen by a staggering 71 percent this year, a bigger loss than its competitor Disney.

While Netflix struggles with its subscriber count, FactSet Estimates predicts Disney+ to have attracted 5.3 million new subscribers through march leading to a total of about 135.1 million subscribers.

Disney also predicts it will have amassed more than 230 million subscribers by September 2024.

Netflix is reportedly considering adding an advertisement-based subscription option by the end of the year as the company looks at how to stay competitive in the increasingly saturated streaming market.

In a previous statement, Netflix’s chief executive said they were looking to introduce advertisements in a year or two but a leaked internal note to the employees has revealed the company is introducing it as early as October 2022.

The note also says Netflix will begin cracking down on password sharing by monetizing it.

All of this has resulted in Netflix being sued by shareholders who argue they have been mislead about the state of the company and future prospects.

Rijul Baath contributed to this report

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