The prime ministers of the UK and Australia have agreed to a new partnership to hasten the development of renewable energy technologies.
Australian prime minister Anthony Albanese and British prime minister Kier Starmer met today (25 October) at the Commonwealth Heads of Government Meeting in Samoa, marking the first time the two have met since Starmer’s landslide victory in July.
The pair have announced the Australia–UK Climate and Energy Partnership, which will focus on developing and accelerating the deployment of renewable energy technologies, including green hydrogen and offshore wind. In Australia, minister for climate change and energy Chris Bowen will be responsible for the partnership, and the secretary of state for energy security and net zero Ed Miliband will work on the UK’s commitments.
The pair also announced six recipients of the Australia-UK Renewable Hydrogen Innovation Partnership Program, which awards funding to projects seeking to use green hydrogen to decarbonise hard-to-abate industries. Grant winners include a project focusing on zero emissions maritime vessels, one focusing on producing green hydrogen from floating solar, and a new method of green methanol production.
Albanese said: “This partnership will ensure we maximise the economic potential of the net zero transition, and build on our long-standing cooperation on international climate action and shared commitment to reach net zero emissions by 2050. We share a vision for a modern and transformed Australia-United Kingdom relationship, which delivers tangible benefits and prosperity to both our nations.”
Starmer added: “The UK and Australia share many things in common, including our governments’ determination to improve the lives of working people, drive economic growth and ensure cleaner, more affordable energy. This partnership underscores our commitment to powering up the UK with clean energy projects that will benefit communities across the country. Together, we’re delivering better futures for our two countries.”
Co-ordination is key
This meeting of heads of state comes just weeks after a report by some of the largest investors from both nations heavily criticized the UK’s renewable energy development policies.
A report, titled Mobilising pension capital for net zero: a policy blueprint for the UK was published as the result of a first-time collaboration between IFM Investors, UK and Australian pension funds, and the UK Pensions and Lifetime Savings Association (PLSA).
The authors urged the UK government to take “an active and coordinated approach across fiscal, planning, climate, renewables and industrial decarbonisation policy” to boost investor confidence for pension fund managers, both domestic and international. Recommendations include extending Contracts for Difference (CfD) terms beyond 15 years, streamlining onshore wind permitting, and setting clearly defined commercial objectives for the new Great British Energy.