Author Archive: Trista Rose

Analyst Trista Rose has worked for investment banks in London, New York and Sydney and was part of the proprietary trading team at Macquarie bank. Trista has degrees from the University of Queensland, University of Oxford and is now pursuing a Master’s in Sustainability at University of Sydney.

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

Climate policy failure will shrink Australia’s GDP by 6% and increase net debt in NSW to 100% by 2060, with taxpayers footing the bill

20 October 2021 (IEEFA Australia): Australia’s failure to commit to net zero targets or any credible climate policy is a growing economic threat to New South Wales and other states, argues a new report by the Institute of Energy Economics and Financial Analysis (IEEFA). The Reserve Bank of Australia’s deputy governor Guy Debelle last week […]

and October 20, 2021 Read More →

IEEFA Australia: AGL Energy has lost over 70% of its market value, destroying A$12 billion in shareholder wealth

It’s an (expensive) sorry tale when companies ignore shareholders and continue to invest in fossil fuels

22 July 2021 (IEEFA Australia): In failing to realise its early green ambition AGL Energy, one of Australia’s biggest electricity generators and retailers wiped over 70% off its market value in just four years, destroying A$12 billion in shareholder wealth, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Author […]

IEEFA: Vanguard funds destroy shareholder wealth with US$290bn in fossil fuels creating a 5.6% performance drag

A global laggard that has minimal transparency, is passive on climate, and is abrogating its fiduciary duty to best manage risk for investors

22 June 2021 (IEEFA Australia): Vanguard Group, the world’s second largest asset manager, is leaving its investors to face profound wealth destruction risks as the world’s largest investor in fossil fuels, all while insisting climate change is a priority for the company, finds a new report by the Institute for Energy Economics and Financial Analysis […]

IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

Planned fossil fuel exit by the world’s largest coal port is paralysed by lending constraints and a secret NSW government deal

The Port of Newcastle’s planned exit from fossil fuels suffered further setback last month after ANZ withdrew financing from the terminal, presently the world’s largest port for exporting thermal coal. ANZ had previously been a major lender to the port, however divested its position during the latest round of refinancing of approximately A$900 million in […]

March 18, 2021 Read More →

IEEFA: Dalrymple Bay Infrastructure overvalued, overleveraged, over-promised, likely to under-deliver

Stock market listing slated for 8 December

Coal port operator Dalrymple Bay Infrastructure (DBI) will commence trading on the Australian Stock Exchange (ASX) on Tuesday 8 December. Under the offer, present owner Brookfield Asset Management (Brookfield) is seeking to raise at least A$656 million, equating to a market value (for 100% of the equity) of A$1.3 billion. If defensible, the valuation would […]

December 7, 2020 Read More →

IEEFA Australia: Snowy Hydro gas plant expansions likely to be fuelled with taxpayer funds

Gas is a poor bet, and coupled with the financially challenged Snowy Hydro 2.0, is a sure stranded asset maker

19 November 2020 (IEEFA Australia): Careful scrutiny of Snowy Hydro’s latest financial results show the company is heading towards an uneasy reliance on government and taxpayer subsidies post 2021, throwing into serious doubt the government’s heady push for further gas expansion in a declining market, finds a new briefing note by the Institute for Energy […]

IEEFA update: Dalrymple’s potential stock market debut

A coal terminal carrying a heavy debt load and increasing climate risks

Preparations to float Dalrymple Bay Coal Terminal (DBCT) on the Australian Stock Exchange appear to be heating up, with a potential listing date slated for the fourth quarter of this year. Initially marketed to private buyers, plans to sell DBCT located at Hay Point on Central Queensland’s coast were shelved in early 2020 after present […]

October 19, 2020 Read More →

IEEFA: American vulture funds prepare to feast on Australia’s Bluewaters Coal Power Station

Western Australia needs a formal transition plan to meet its 2035 thermal coal exit date

Elliott Management Corporation, the infamous U.S. based vulture fund manager, has hired law firm Corrs Chambers Westgarth “to control the destiny of the Bluewaters Power Station”. Advisory and investment firm KordaMentha has also been reportedly retained by other debtholders to restructure the troubled company.  The 466 megawatt (MW) Bluewaters Power Station is jointly owned by […]

September 4, 2020 Read More →