Australian coal and gas export demand could end before 2040

Demand for Australia's coal and gas exports could dry up before 2040 if countries honour their climate commitments, according to a report from Climate Resource published on November 8. RenewEconomy reported that the study examines potential timelines for Australia's fossil fuel trade under international climate targets. The findings highlight the urgency for national planning around the future of energy exports. [1]

The release of the study follows the Brazilian government's COP30 presidency issuing a global roadmap on transitioning away from fossil fuels, RenewEconomy reported. The international roadmap calls for coordinated global action to manage the decline of fossil fuels while expanding renewable energy, electrification, and energy efficiency. It also encourages governments to create tailored domestic strategies to manage the shift. [1]

Coal is a combustible sedimentary rock formed from decayed plant material subjected to heat and pressure over millions of years. It remains one of the primary raw resources within the global energy supply system, which includes the development, refinement, and international trade of energy resources for electricity generation and other end uses. [2][3]

Climate Resource emphasised that Australia needs an action plan for economic adjustments after fossil fuel export markets contract, according to RenewEconomy. The roadmap from the COP30 presidency stresses that active planning for declining fossil fuel reliance must accompany national targets for renewable energy adoption. [1]