Submission to the Inquiry into the 2024 Annual Report of the Net Zero Commission
Download Full Version
14 February 2025
To: The Joint Standing Committee on Net Zero Future
Re: Inquiry into the 2024 Annual Report of the Net Zero Commission
Dear The Hon. Jeremy Buckingham,
The Institute for Energy Economics and Financial Analysis (IEEFA) is grateful for the opportunity to present its submission to the 2024 Annual Report of the Net Zero Commission (NZC). IEEFA is an energy finance think tank that examines issues related to energy markets, trends and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.
IEEFA is supportive of the measures outlined in NZC 2024 Annual Report to reduce greenhouse gas emissions across the state’s electricity, resources and built environment sectors.
On reviewing the report, IEEFA recommends the Commission:
- Tightens methane rules on NSW coal production, and include clauses in planning laws to ensure new coal or gas project approvals are in line in emissions reduction targets.
- Considers new measures to stimulate coalmine methane abatement in areas where it wouldn't otherwise occur. Incentives could attract private capital and create research and development (R&D) opportunities in the state.
- Accelerates the exit of coal in NSW, and the entry of replacement renewables to support the delivery of federal and state emissions reductions and renewables penetration targets.
- Prioritises the development of NSW’s gas decarbonisation roadmap, accelerating measures to reduce gas demand and planning for the phase-down of its gas distribution networks.
Please do not hesitate to contact us for any further information.
Kind regards,
Kevin Morrison – Energy Finance Analyst, Australian Gas
Johanna Bowyer – Lead Analyst, Australian Electricity
Jay Gordon – Energy Finance Analyst, Australian Electricity
Andrew Gorringe – Energy Finance Analyst, Australian Coal
Anne-Louise Knight – Lead Analyst, Australian Coal
