Featured in Full picture on quality – 04-2022

A trojan horse for decarbonization

Australia’s most powerful energy industry participants have actively resisted the move to a low-carbon economy. Now, the country known as a sandbox for technology has become a sandbox for a new model for decarbonization – one which has seen billionaires and giant fund managers sidestep politics to use the free market in strategic and potentially disruptive ways. pv magazine Australia’s Bella Peacock reports.

By

Bella Peacock

07 Apr 2022

Image: Nick Pitsas/CSIRO

It was a Saturday morning when Sydney-based billionaire Mike Cannon-Brookes, partnering with Canadian investment giant Brookfield Asset Management, put in a shock bid to buy Australia’s biggest power company AGL. The massive “gentailer,” which has both generation and retail operations, is also the country’s biggest carbon emitter. The plan, according to Cannon-Brookes and Brookfield, was …

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