MOL To Issue Sustainability Bonds

As the planet continues to warm, the twin challenges of diminishing water supply and growing energy demand will intensify. But water and energy are inextricably linked. For instance, nearly a fifth of California’s energy goes toward water-related activities, while more than a tenth of the state’s electricity comes from hydropower. As society tries to adapt to one challenge, it needs to ensure it doesn’t worsen the other.

Climate change is accelerating. Global warming is forecast to exceed 1.5˚C during the 2030s—an urgent challenge that demands Australia achieve net zero by 2035.  Climate scientists have observed with mounting concern the continuing emissions and the rise in atmospheric concentrations of carbon dioxide and other greenhouse gases. For decades, they have issued dire warnings about what is at stake and what is required to curb global warming. Yet global temperatures continue to rise, along with damages from extreme weather.  This report “Aim High, Go Fast: Why Emissions Need to Plummet this Decade” is the Climate Council’s science-backed vision for what Australia’s best effort could look like. Australia is a nation of currently high emissions but rich renewable energy resources. The country has been ravaged by unprecedented bushfires, droughts, and floods in recent years, and decision makers should not ignore these warnings.