If there was ever a moment for Australia’s shift to renewables and EVs, this is it

⭐ Join our community and access the best we offer!

illuminem summarises for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: A classified Australian intelligence report on climate change risks has been described by lawmakers as “frankly terrifying,” highlighting growing concern that the climate crisis could pose major national security threats

🔭 The context: Climate risk meets energy vulnerability
• The Australian government received the intelligence assessment three years ago, but it remains fully classified, with no public version released
• Lawmakers briefed on the report warn the country is “woefully unprepared” for the security challenges the climate crisis could create
• A separate national climate risk assessment has already warned that climate impacts could trigger cascading economic shocks, including supply chain disruptions, goods shortages and failures in energy systems
• The ongoing Middle East conflict and volatile oil markets are now offering a real-world glimpse of how global fossil fuel disruptions can quickly affect economies

🌍 Why it matters for people and the planet: Rising tensions in the Gulf have already driven up petroleum prices and exposed vulnerabilities in global fossil fuel supply chains
• Australia is particularly exposed: the country now operates only two oil refineries and currently holds about 32 days of diesel supply
• Panic buying has already appeared in some regions, with diesel demand increasing 100% in Mildura and 238% in the Barossa
• Analysts warn that dependence on global fossil fuel markets creates both economic and security risks during geopolitical crises

⏭️ What’s next: Policymakers are debating whether Australia should accelerate electrification and renewable energy deployment to reduce reliance on imported fuels.
• Renewable electricity already provides nearly 44% of Australia’s power, up from 35% a few years ago, while electric vehicle sales have tripled.
• The government has also committed $1.1 billion to develop low-carbon alternatives to liquid fuels.
• However, fiscal pressures may lead to cuts in incentives for household batteries and electric vehicles that were designed to speed up the energy transition.

📈 One stat: Australia currently holds only about 32 days of diesel supply, underscoring its vulnerability to disruptions in global fuel markets

See on illuminem's Data Hub™ the sustainability performance — carbon credit purchases, total emissions, and climate targets of thousands of companies

Click for more news covering the latest on renewable energy and public governance