Weekly Wrap Up, September 19 202This week, Australia balanced its international ambitions with domestic pressures, as Prime Minister Albanese took centre stage at the United Nations while the Government’s climate policy came under closer scrutiny at home.
This week, Australia balanced its international ambitions with domestic pressures, as Prime Minister Albanese took centre stage at the United Nations while the Government’s climate policy came under closer scrutiny at home.
At the UN, Albanese delivered his first speech to the General Assembly in a tone that was measured and purposeful. Significantly, the Australian Government joined with other international partners like the UK and France to formally recognise a Palestinian State. The PM also seized the opportunity to promote Australia’s bid for a non-permanent seat on the UN Security Council for 2029–30. If successful, this would be the second time Australia has held a non-permanent seat on the UN Security Council this decade. Behind the scenes, a highly anticipated meeting with President Trump was confirmed for late October, with a beaming selfie of the leaders at the President’s UN reception a hopeful sign of the health of the nations’ relationship.
Back home, the Government’s reluctance to set firm renewable energy milestones to support its emissions reduction ambitions (unveiled last week) sparked concern among experts. They’ve argued that without a detailed plan the emissions target risks being more aspirational than achievable. Industry voices also warned about the challenges ahead, including rising power costs, transmission infrastructure delays, and resistance from coal-dependent states like Queensland, which intends to keep coal plants running for as long as possible. Then there’s an Opposition in turmoil over its position on climate and energy policy.
On the world stage, the Government is confidently asserting its values and ambitions. At home, however, translating those ambitions into tangible progress remains a major test.
Interesting times.
Top talking points
Overseas Visit: Anthony Albanese travelled to the United States, meeting with global leaders including Emmanuel Macron at the United Nations General Assembly.
Meeting Confirmed: A formal meeting between Anthony Albanese and Donald Trump has been scheduled for 20 October.
Palestinian Recognition: Australia formally recognised the State of Palestine, aligning with Canada and the United Kingdom in a coordinated international effort.
Optus Outage: Anika Wells criticised Optus’ Triple-0 outage, highlighting that the 13-hour disruption severely affected emergency services and was tragically linked to multiple preventable deaths.
COP31: Chris Bowen met with Türkiye’s First Lady Emine Erdoğan to discuss hosting rights for the conference.
Making headlines this week
Tax Review Announcements
Queensland Premier’s Address
David Crisafulli reaffirmed his government’s commitment to upholding Queensland’s progressive coal royalties regime despite criticism from the mining and resources sector. Crisafulli stated that Queensland was “open for business” but would only welcome companies that contribute to the community, rejecting those that prioritise shareholder profits over local workers. The Premier emphasised a willingness to improve investment conditions but insisted the royalty framework would remain unchanged, with revenue directed to public services such as hospitals, schools, police, and infrastructure across Queensland. His comments follow BHP Mitsubishi Alliance’s decision to mothball its Saraji South mine, citing unsustainable coal royalties and challenging market conditions as well as QCoal’s plan to close its Cook Colliery coal mine in central Queensland due to financial strain from royalties.
Things to watch
29 September: The RBA will 
29 September: The Women UNLIMITED Leadership Summit 2025 will 
30 September: ABS will Inflation, Digital Asset and Private Credit Developments
Inflation rose 3 per cent across the year to August, the highest annual inflation rate since July last year. Annual trimmed mean inflation fell to 2.6 per cent, down from 2.7 per cent last month.
Treasury released draft legislation to regulate digital asset platforms and tokenised custody platforms. Proposed amendments to the Corporations Act 2001 capture these platforms by introducing each as financial products.
ASIC released[PDF] a report on Australia’s private credit market, finding that private credit complements the banking system and provides growth opportunities. However, it outlined concerns about a lack of transparency and the potential for conflicts of interest between managers and investors.
Ministerial Overseas Visits
Penny Wong launched the Declaration for the Protection of Humanitarian Personnel alongside 100 other countries. The declaration commits to facilitating access and protecting humanitarian personnel, ensuring efficient visas and work permits, as well as new joint training for military personnel and aid workers.
Don Farrell travelled to Malaysia for the annual Association of Southeast Asian Nations Economic Ministers’ Meeting, deepening Australia’s bilateral trade and investment ties while reiterating support for the region.
Net Zero Fund Consultation, Critical Mineral and ARENA Updates
Tim Ayres opened consultation on the design of the new $5 billion Net Zero Fund. The consultation is seeking views on which projects and capital expenditures should be supported, the most suitable financing mechanisms, and how the Fund can complement established financing vehicles.
Madeleine King attended the Osaka World Expo in Japan to strengthen bilateral cooperation and explore opportunities for Australian and Japanese firms to invest in Australia’s critical minerals sector.
ARENA opened the third round of its $400 million Industrial Transformation Stream Program, seeking projects from regional industrial businesses to support Australia’s net zero goals.
Triple-0, eSafety and Sydney Trains Developments
The Australian Government will fast-track the 2024 Bean Review, establishing a Triple Zero custodian to conduct bi-annual emergency network tests and require outage reporting to the Department of Communications or ACMA. Additionally, ACMA will investigate Optus’ compliance with Emergency Call Services rules.
The eSafety Commissioner warned 16 companies, including Discord, Roblox, Steam, and Twitch, that the teen social media ban could apply to their platforms. The regulator also appointed an academic advisory group to review the ban’s implementation and assess its short and medium-term impacts on children, young people, and their caregivers.
An independent review of Sydney’s train network revealed major failures in Sydney Trains’ handling of a downed wire at Homebush in May, citing poor decisions and communication. In response, the New South Wales Government will invest $458.4 million to upgrade tracks, signals, wiring, and drainage.
AI Moves, WorkSafe Appointment and Workforce Investments
New South Wales public school students from years five to twelve will have access to a new generative AI app, NSWEduChat. The program aims to encourage critical thinking and support AI literacy.
Jacinta Allan appointed Cathy Henderson as Chief Executive Officer of WorkSafe Victoria. This position has been vacant for more than six months following Joe Calafiore’s resignation. Henderson will lead WorkSafe’s five-year plan to cut workplace fatalities by 30 per cent, injuries by 20 per cent, and boost return-to-work rates by 10 per cent.
The Federal and New South Wales Governments will invest $150 million to strengthen New South Wales’s skilled workforce. Joint funding aims to improve student access to quality vocational education and training programs.
In case you missed it...
