19 November 2012: The International Energy Agency (IEA) has released a new report, titled “Energy Policy of IEA Countries: Australia 2012,” which lauds Australia’s efforts to develop a low-carbon economy, and recommends further investments in education, monitoring and evaluation of progress, and energy efficiency.

The report welcomes Australia’s commitments to a transition to a low-carbon economy since the last IEA in-depth review in 2005, which include: the establishment of energy- and climate change-related ministries and agencies as well as a national greenhouse and energy reporting system; concrete targets for renewable energy use; support for carbon capture and storage (CCS); the establishment of the Clean Energy Finance Corporation to invest in renewable energy and energy‐efficient technologies; the introduction of a price for carbon emissions; and the issuing of a comprehensive Draft Energy White Paper (DEWP), which reviews Australia’s future energy needs until 2030 and provides a policy framework for the further development of the energy sector.

The report also recommends several steps to strengthen the current energy policy framework, such as: the establishment of a monitoring and evaluation system for the implementation of the DEWP; more investments in education and training of highly qualified people for the continued development of new technologies; outreach efforts to increase public awareness of CCS; and policies aimed at lowering the cost of new technologies and energy efficiency. [IEA Press Release] [Publication: Energy Policy of IEA Countries: Australia 2012 Executive Summary and Key Recommendations]