1 day ago
2
November 15, 2024 | 10:20 am
TEMPO.CO, Jakarta - Any move by the Trump administration to change U.S. climate policy could benefit Australia's ambitions to attract greater investment to its critical minerals and green energy industry, Prime Minister Anthony Albanese said on Friday.
Australia has rich deposits of copper, vanadium, cobalt and lithium used in electric vehicle batteries. It is competing for global investment to build its clean energy sector, including critical minerals processing.
Trump has promised to rescind President Joe Biden's landmark climate legislation, the Inflation Reduction Act, which provides billions of dollars in subsidies for clean energy.
"There are potential benefits if there are changes in U.S. policy. We'll wait and see what occurs," Albanese told reporters in Peru, where he is attending the APEC summit.
Australia sees climate action as a great economic opportunity, he said.
"The Inflation Reduction Act, for example, has seen considerable capital flow to the United States. If those incentives aren't there, then that has implications for the nature of the global economy," he said.
Australia was not pre-empting changes, he added.
"We have all of the resources under the ground that will drive the global economy in the 21st century. Copper, vanadium, cobalt, lithium, etc. We have a great opportunity to produce green hydrogen through use of the renewables," he said.
Albanese met with Indonesia's President Prabowo Subianto on Thursday, and told reporters the impact of a Trump presidency on the world was "part of the backdrop of APEC", and was being discussed by leaders.
Albanese added his phone call with Trump last week was "very constructive".
REUTERS
Editor's Choice: Not Functioning Well, IKN Railless Train Will Be Returned to China
Click here to get the latest news updates from Tempo on Google News
Flights to Bali Resume Following Mount Lewotobi Eruptions
18 jam lalu
After Mount Lewotobi Laki-Laki erupted, several airlines resumed flights to Bali on Thursday, November 14, 2024.
List of 10 Richest Persons in Australia and Their Businesses
1 hari lalu
The richest person in Australia is none other than the billionaire Gina Rinehart, the leader in the metals and mining industry.
Virgin Australia Cancels Bali Flights After Mount Lewotobi Eruptions
1 hari lalu
Lewotobi volcano eruption forces Virgin Australia airline to adjust and cancel all flights to Bali.
Multiple Flights to Bali Canceled Due to Mount Lewotobi Laki-laki Eruption
1 hari lalu
The volcanic eruption of Mount Lewotobi Laki-laki in East Nusa Tenggara has disrupted air travel to and from Bali.
Indonesia and Australia Conduct Amphibious Landing Exercise, Involving 2,000 Personnel
2 hari lalu
The Indonesian National Armed Forces (TNI) along with the Australian Defence Force (ADF) carried out an amphibious landing on the shores of Banongan Beach, Situbondo.
State Leaders of Major Economies to Skip COP29 Climate Summit
3 hari lalu
Leaders from major economies including the United States, the European Union, and Brazil will skip the COP29 Climate Summit in Baku, Azerbaijan.
Why COP29 is So Important for Australia's Climate Credentials
4 hari lalu
With Australia bidding to host COP31 in two years, this year's COP29 meeting takes on extra significance.
Jakarta Performs Blackout Tonight as Part of Climate Effort
5 hari lalu
The Jakarta Provincial Government holds a simultaneous blackout in office buildings and streets as part of climate change mitigation efforts.
3 Indian Citizens Arrested for Smuggling 106 Kg of Drugs Face Death Penalty
5 hari lalu
The three Indian suspects were promised a reward of Rp 1.1 billion to smuggle drugs into Australia.
Trump Win Worries International Partners Ahead of COP29 Climate Summit
7 hari lalu
Donald Trump's victory in the U.S. presidential election has darkened the outlook for a strong deal at the COP29 climate summit next week.
