Country's Climate Commitments Legal
- Aug 19, 2022 8:02 am GMT
Making the country's climate commitments legal will make it easier for businesses and the financial sector to invest in renewable energy, resulting in sustainable development.
The new Australian government unveiled a bill last month that would, for the first time, codify the nation's emissions reduction goals. The legislation's targets include achieving net zero emissions by 2050 and reducing GHGs by 43% from 2005 levels by 2030. According to the administration, formalizing the nation's climate commitments into law will make it easier for businesses and the financial sector to commit funds to renewable energy.
Akaysha, which was established in 2021, offers a variety of services for the advancement of Battery Energy Storage Systems (BESS) and renewable energy projects, from early-stage project development and finance and investment solutions to the delivery through administration of complex assets. The company wants to enhance its portfolio by including other renewable energy options, such as the creation of green hydrogen assets, and to expand to future energy storage projects in other Asia-Pacific markets.
According to BlackRock, the projects supported by its investment will reduce 15 million tonnes of CO2 equivalent emissions over their lifetime
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