ACCORDING TO A GAS COMPANY LOOKING AT THE BEETALOO BASIN, AUSTRALIA SHOULD GIVE UP ITS AMBITION OF KEEPING GLOBAL WARMING TO 1.5C

 

Tamboran Resources claims the target may obstruct "climate enhancing" gas developments. Tamboran Resources received $7.5 million to investigate the Beetaloo Basin.

The federal government is being urged by a gas corporation with interests in the Beetaloo Basin to revise its climate change legislation and give up the "impossible" goal of attempting to keep global warming to 1.5C.

Despite Australia's signature on the Paris Agreement, which aims to keep global warming well below 2C and ideally below 1.5C relative to pre-industrial levels, the call was made.

The government's goal in the new legislation, according to Tamboran Resources, which won a $7.5 million grant for exploration in the Beetaloo Basin, should be reduced to keep warming "far below 2C above pre-industrial levels."

According to the corporation, incorporating the 1.5C limit in the statute might subject fossil fuel companies to "counter-productive lawfare" that could thwart their "climate-improving" gas projects.

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According to the company's submission to a Senate inquiry looking into the bill, "Whilst the world still can avoid a 2C temperature increase, it seems like a growing reality the world will exceed 1.5C in the next few years regardless of what actions are taken, particularly from Australia's perspective."

"By including an Australian legislated objective [of 1.5C] that will be achieved very soon at the global level and in which Australia has a very little influence, it will probably give 'lawfare' lawsuits in Australian courts more justification to claim that legitimate Australian projects are incompatible with an unreachable global target."

According to the application, it would be impossible for the corporation to continue through with projects that it believes will assist cut global emissions due to the "unbearable cost, delays, and added risk" that would arise from legal action.

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