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Let Me Sum Up

Tennant Reed, Luke Menzel, Frankie Muskovic
Let Me Sum Up
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  • Under Grattan’s eSafeguard Plan, Electricity Is Like A Baby Bird: It Goes Cheap
    Subscribe to LMSU’s Patreon for a sector plan BoCo bonanza!  All aboard folks! Team LMSU is continuing our BoCo odyssey, adventuring through each of the six sector decarbonisation plans. AND we’re bringing friends! That’s right, we’re calling in even nerdier reinforcements and experts to join us as we venture on. This week, we’ll be joined by Helen Rowe from Climateworks to talk transport and infrastructure.—With a promise to provide guidance on the next five years ‘and beyond’ your intrepid hosts digested the Queensland Government Energy Roadmap 2025. It provides a major reset in some respects with continuity in others. Grabbing the headlines was the telegraphed decision to run government-owned coal assets to end of technical life but much detail still ‘TBC’ when it comes to how decisions on coal will be made.Transmission is getting a big overhaul, renewables still gonna be big but maybe not so much on the wind front. More questions raised than answered here for now as Luke is left pondering the wisdom of scrapping a bicameral parliament in the great northern state!Our main courseWith a tantalising title of ‘Bills Down, Emissions Down: A practical path to net zero electricity’ your intrepid hosts are having what the Grattan Institute is serving! A timely provocation from Alison Reeve, Tony Wood, Dominic Jones and Ben Jefferson on the value - and they argue necessity - of reinstating a price on carbon in the electricity sector. The world has changed since the last time carbon pricing was discussed in the energy sector and the folks from Grattan argue the Safeguard Mechanism presents a ready made vehicle to get the job done. And they don’t forget to remind us of earlier work in their report Climate Phoenix that shows how the Safeguard could evolve into a broader emissions trading scheme, Much food for thought ahead of the 2026-27 Safeguard review!One more thingsTennant’s One More Thing is: his appearance at an event hosted by the University of Adelaide, festively titled, ‘Livin La Vida BoCA’! No guesses as to what that was about: a whisper of chat about border carbon adjustments and our man Mr Reed manifests!Frankie’s One More Thing is: a frustrating one-year delay to the vote by the International Maritime Organisation on the adoption of an emissions levy on shipping, following concerted lobbying from the Trump administration.Luke’s One More Thing is: the long awaited and celebrated launch of the Commercial Building Disclosure Roadmap! *Finally* After previous reviews gathered dust on shelves, we finally have a plan for expanding use of Australia’s globally leading NABERS rating scheme in disclosing the nergy performance of more building types. Huzzah!And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head toletmesumup.netto support us on Patreon, procure merch, find back episodes, and leave us a voicemail!
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  • The Ghost Of Climate Future
    Subscribe to LMSU’s Patreon for a sector plan BoCo bonanza!  All aboard folks! Team LMSU is embarking on a BoCo odyssey over the the next couple of months, adventuring through each of the six sector decarbonisation plans. AND we’re bringing friends! That’s right, we’re calling in even nerdier reinforcements and experts to join us as we venture on. For our first deep dive, The Planned and the Penurious (Energy and Electricity Sector Plan), we were joined by Energy wizard Dylan McConnell! Our second outing, 2 Planned: 2 Penurious (Built Environment), will feature buildings maven Davina Rooney!—While it’s no Planned and the Penurious, your intrepid hosts have been following the final laps of the NDC Grand Prix as a flurry of countries have raced (?) to lodge their 2035 Nationally Determined Contributions (NDCs) under the Paris Agreement. China’s commitment to cut emissions 7–10% below peak levels by 2035 is dissected: an under promise, over deliver scenario? Almost certainly based on their track record. India is progressing through the pack, Europe stuck in the pit lane with internal negotiations, the US is doing doughnuts in the car park, and what on earth do we make of the corner-cutting of Russia’s retrograde move? And what about the two-thirds of countries still in the garage that haven't even gotten around to submitting a climate pledge yet? Is this Trump Administration dirty pool? Luke thinks maybe, Tennant is sceptical, but it certainly makes for an interesting COP and raises questions about the Paris Agreement’s “ratchet” mechanism and the consequences (or lack thereof) for backsliding or just ghosting the party altogether. We commend you to Climate Resource’s NDC country snapshots as a handy dandy resource!Our main courseOne of your intrepid hosts may have described reading the recently published National Climate Risk Assessment as ‘eating our climate risk vegetables’ given the dense and confronting nature of this 250+ page report. But jokes aside, team LMSU wanted to shine a spotlight and give our listeners a sense of the breadth and depth of this significant piece of work from Australia’s Climate Service: fifty six nationally significant climate risks across eight key functional systems, with seven additional risks highlighted for Aboriginal and Torres Strait Islander peoples. Eleven risks receive deeper analysis, assessed across three warming scenarios (1.5°C, 2°C, 3°C) and three time horizons (2025, 2050, 2090). While your intrepid hosts read the whole thing cover to cover, we reckon it’s designed as a more modular report and for those interested, we suggest reading the executive summary and use the table of contents to navigate to areas of interest. This paper reaffirmed the ‘why’ many of us are working in climate and energy and team LMSU is thinking of all you Summerupperers out there, more power to your arms!One more thingsTennant’s One More Thing is: a book on climate change and energy transition, “Clearing the Air” by Hannah Ritchie. Simple and snappy answers to the many and diverse questions people have on climate,Tennant declares lucid, reasonable and a goodun!Frankie’s One More Thing is: a plug for the upcoming Investor Group on Climate Change Summit 2025, coming up in Sydney on October 16-17 and featuring eminences such as Al Gore and not one, not two, but ALL THREE hosts of LMSU!Luke’s One More Thing is: some listener mail from friend of the pod Purdie Bowden who had some thoughts on comments made by Alison Reeve on a previous episode about expertise not being valued in the public service. She’s advocating for an overhaul of APS recruitment practices and progression to value specialist skill sets, support public servants to upskill, allow cross pollination between public and private sectors and lots more very sensible excellent suggestions. Hear, hear!And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head toletmesumup.netto support us on Patreon, procure merch, find back episodes, and leave us a voicemail!
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  • T•R•E•N•D•S: The One Where Tim, Mira, Emm And Alex Model Net Zero Pathways
    Time is running out to get your tickets for Chaos Trivia! Team LMSU is joining forces with the fabulous folks from Currently Speaking for a blockbuster crossover event, with special guests, the NEMchat Singers. Chaos Trivia is set for the first night of the All Energy Conference on Wednesday 29 October in Melbourne, and as predicted, tickets are selling like hotcakes with only a few left! There will be trivia! Role playing? Musical interludes! Food! Drinks! And Tennant is still committed to some wizard cosplay! All proceeds go to the First Nations Clean Energy Network so - RUN, don’t walk and snag tix for you or a whole trivia team.—Ladies and Gentlemen, we have a target! Your intrepid hosts reflect on the many and varied reactions to the slick and stage managed birthing of the Climate Change Authority’s advice on a 2035 target and the Government’s acceptance of their advice to adopt a target of 62-70% emissions reduction on 2005 levels by 2035. Simultaneously declared “Economy wrecking” (Opposition), “Weak and disappointing” (Greens) and “The sweet spot” (Prime Minister Albanese), it looks like business groups broadly land in the “benign toleration” camp and environment groups unhappy with the bottom end of the range. What do we reckon? The real debate starts now on the level of ambition needed in the policies to get to the top of the range—especially since current policies only get us to about 51% by 2035.Looking for fodder for your own opinion? Check out the op-eds penned by Luke and Adam Morton, and Adam's conversation with CCA Chair Matt Kean.Our main courseIt wasn’t just the targets the Government served up last week that had your intrepid hosts salivating at the degustation menu of climate policy offerings to sample. Treasury modelling, NDCs, sector plans, OH MY! But y’all know the LMSU crew can’t resist the sweet tantalising temptation of a seriously nerdy modelling exercise and so it was decided - there was never really any question - to the Treasury buffet we go! With three scenarios to unpack, a friendship of climate models used - TIM, MIRA, EMM, ALEX, anyone? There was a lot to digest in here! Eye watering economic upsides for green exports, signalling on declining fossil fuel exports, the cost of delay and some seriously refreshing honesty about limitations of modelling, there was something for everyone here and some significant foundations being laid for the future debate of climate policy in Australia.One more thingsTennant’s One More Thing is: a fun Well Actually post, “Why every Sankey diagram you’ve ever seen is wrong” by Michael LiebreichFrankie’s One More Thing is: a shout out from Marian Wilkinson in response to our recent episode on her Quarterly Essay on Woodside, saying she wanted to provoke a broader discussion on the influence of large companies like Woodside on federal and state politics and local communities. Love your work Marian!Luke’s One More Thing is: a plug for his other podcast, First Fuel, which features his recent interview with Dr. Saul Griffith at the Energy in WA conference in which Saul predicts the economics of electrification will spur a rapid decline in gas exports and urged a pivot to clean commodities.And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head toletmesumup.netto support us on Patreon, procure merch, find back episodes, and leave us a voicemail! 
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  • The Hi-Lo Country (2035)
    In this special, rapid reaction bonus episode (freed from the paywall, in the National Interest) we provide the hottest of hot takes on Australia's new 2035 emissions reduction target, and the 1000+ pages of documents released by the Albanese Government this week. You're welcome!We'll be back in your feeds next Friday to talk Treasury modelling. Meanwhile...Step right up and get your tickets for Chaos Trivia! Team LMSU is joining forces with the fabulous folks from Currently Speaking for a blockbuster crossover event, with special guests, the NEMchat Singers! Chaos Trivia is set for the first night of the All Energy Conference on Wednesday 29 October in Melbourne. There will be trivia! Role playing? Musical interludes! Food! Drinks! And Tennant in some wizard cosplay, which should frankly be reason enough! All proceeds go to the First Nations Clean Energy Network and we reckon tix will sell like hotcakes, so - run, don’t walk and snag tix for you or a whole trivia team.And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head toletmesumup.netto support us on Patreon, procure merch, find back episodes, and leave us a voicemail!
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    58:53
  • Once You Start Down The Wood Side, Forever Will It Dominate Your Destiny
    Step right up and get your tickets for Chaos Trivia! Team LMSU is joining forces with the fabulous folks from Currently Speaking for a blockbuster crossover event, with special guests, the NEMchat Singers! Chaos Trivia is set for the first night of the All Energy Conference on Wednesday 29 October in Melbourne. There will be trivia! Role playing? Musical interludes! Food! Drinks! And Tennant in some wizard cosplay, which should frankly be reason enough! All proceeds go to the First Nations Clean Energy Network and we reckon tix will sell like hotcakes, so - run, don’t walk and snag tix for you or a whole trivia team.—Targets! Targets! Targets! Have we reached peak 2035 target fever? You betcha, and it’s a smorgasbord with climate and business groups serving up their preferred target. Which one is just right? From the bottom-up analysis from EY with practical can-do actions to achieve 65-75% to Deloitte’s top-down analysis for Business for 75 suggesting a 75% target would grow the economy more than a 65% target, there was one bit of modelling the subject of much chatter, and that didn’t recommend a particular target at all! McKinsey’s modelling for the BCA took a look at modelled costs for achieving 50, 60 and 70% targets but omitted any analysis of benefits, didn’t consider global impacts and seemed to make some drastic assumptions about the impact on gas exports (but hard to know as no assumptions were published). The verdict? BCA seems to be trying to thread the needle in navigating different members’ views and… it could have been worse!Our main courseThis week your intrepid hosts pack the passports and FIFO into that GST-sapping, resource-rich, beachy utopia that is WA as we soak up Marian Wilkinson’s Quarterly Essay, ‘Woodside vs The Planet: how a company captured a country’. This cracker of an essay unpacks the complex relationship between Woodside, successive WA and Federal governments, and local communities. A particularly nuanced and sensitive account of impacts to the Murujuga people’s struggle for influence in the preservation of their cultural heritage is contrasted with accounts of shareholder action and activists calling out the cognitive dissonance from Woodside in claiming support for climate action while expanding plans for fossil gas extraction and export well beyond 2050. This was not the policy solutions paper Tennant wanted it to be, but we debated the merits of supply-side activism to shut down fossil fuel exports and whether the WA community would even be on board with that. This essay paints a vivid picture of Woodside’s omnipresence in WA and for a bunch of blow-in east coasters, we learned a lot!One more thingsTennant’s One More Thing is: the International Maritime Organisation’s upcoming vote on a global carbon pricing scheme for shipping— even with the US reportedly opposed, the vote is expected to pass. Yay for rare moments of multilateral innovation! Frankie’s One More Thing is: the Investor Front Door is officially open! Or at least ajar for a couple of pilot projects. This could grease the wheels for Future Made in Australia projects OR could add more layers of helpful bureaucracy. Implementation matters!Luke’s One More Thing is: for the fans of good periodicals out there, a solid vote for the latest edition of Foreign Affairs, which features essays on US-China tech competition, critical minerals, AI, and Australia’s role in the Pacific.And that’s it for now, Summerupperers. There is now a one-stop-shop for all your LMSU needs: head toletmesumup.netto support us on Patreon, procure merch, find back episodes, and leave us a voicemail!
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Your regular deep dive into recent reports on climate and energy with Frankie Muskovic, Luke Menzel and Tennant Reed. Because there is too much.
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