Page 4 - Climate Control News magazine March 2023

Editorial
Climate Control News
EDITOR
Sandra Rossi Ph: (02) 9213 8277 sandrarossi@yaffa.com.au
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Sustainable living in real terms
METHANE IS RESPONSIBLE FOR AROUND 30 PER CENT OF THE
RISE IN GLOBAL TEMPERATURES
SINCE THE INDUSTRIAL REVOLUTION.
gas markets amid the global energy crisis. Just last week Santos posted record profits. The company’s 2022 net profit rose to $3.1 billion.
What a contradiction!
In the age of corporate responsibility, this care-
less attitude is simply not sustainable.
It’s a bit like wages growth in Australia. Despite record profits, real wages continue to
fall.
In the past year the real unit cost of labour has
D Sandra Rossi – Editor
In the June quarter just 44.1 per cent of GDP
ESPITE THIS LITTLE is being done to reduce methane emissions, according to the International Energy Agency’s Global Methane Tracker.
It found that the global energy industry was responsible for 135 million tonnes of methane released into the atmosphere in 2022, only slightly below the record highs seen in 2019.
IEA executive director, Faith Birol, believes methane emissions from oil and gas alone could be reduced by 75 per cent with existing technologies.
He said the high rate of emissions prove indus- try is refusing to take real action. Less than three per cent of the income accrued by oil and gas companies worldwide last year would be required to make the USD 100 billion investment in tech- nologies needed to achieve this huge reduction.
“This is not a new issue yet emissions remain stubbornly high,” he said.
Many companies saw hefty profits last year fol- lowing a turbulent period for international oil and
went to the Compensation of Employees. At the same time the share going to corporate profits rose to 29.9 per cent.
Another contradiction that simply isn’t sustainable.
Thankfully it isn’t all bad news the federal gov- ernment is investing $95.6 million in the creation of a New Energy Army to help reach net zero emissions.
Last week the government launched the New Energy Apprenticeships program to build the infrastructure needed to achieve a 43 per cent reduction in emissions by 2030.
The funds will be spent over nine years to sup- port 10,000 apprenticeships.
The program will see eligible apprentices receive up to $10,000 over the course of their apprenticeship to assist with the cost of living.
Now that’s an initiative that is sustainable. It’s time to talk about sustainable living in real terms that benefit everyone, not just a select few. ✺
fallen 4.9 per cent.
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