New South Wales approves HVO through 2045 — OilPrice
The Independent Planning Commission of the Australian state of New South Wales has approved a project to extend the operation of the Hunter Valley Operations (HVO) coal complex until 2045. The project предусматривает the extraction of approximately 429 million tonnes of coal at the complex’s northern and southern sites. OilPrice reports.
The commission’s arguments
The commission acknowledged that the project would affect the climate, population, economy and environment of the Hunter Valley region, the state and the world. At the same time, it concluded that these impacts outweigh the benefits for the region and New South Wales, including the preservation of jobs, economic activity, support for local businesses, as well as royalty and tax revenues.
According to the publication, HVO’s contribution to the economy is estimated at more than $1 billion annually. The proposal was supported by state Premier Chris Minns, Natural Resources Minister Courtney Houssos and the New South Wales Coalition. The commission received more than 10,000 public submissions, around 60% of which supported the project.
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Climate concerns and approval
Climate activists criticized the approval of the HVO extension, saying it contradicts Australia’s commitments under the Paris Climate Agreement. According to an estimate, greenhouse gas emissions could amount to 809 million tonnes over the 19 years of the project’s implementation.
The extension of the complex’s operation still requires federal environmental approval; a decision is expected by the end of the year. If approved, the operator must develop a plan to manage emissions from the combustion of exported coal abroad, including limiting supplies to jurisdictions with climate policies aligned with the goals of the Paris Agreement. The operator is also expected to take measures to reduce emissions, maximize the use of renewable energy and purchase additional carbon offsets.
