The Economic Perspective 20 June 2025

The Latest Trending Economic News Curated for You by Balmoral Group Australia

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Good morning dear readers, 

Last week, our Brisbane Office was pleased to host our Principal Valerie Seidel, facilitating valuable discussions across water, biodiversity, infrastructure, resources, and agriculture through the lens of economic modelling and policy advisory.

This edition highlights transformative projects driving climate action, infrastructure innovation, and sustainable investment. Our first article covers Norway’s Longship project, the world’s first full-scale carbon capture and storage system, which will store 750,000 tonnes of CO₂ annually beneath the North Sea, setting a new standard for emissions reduction. Then we take a look at Australia’s new sustainable finance taxonomy, a science-based framework to guide net zero-aligned investments under the Government’s Sustainable Finance Roadmap.

We also feature Brisbane’s Cross River Rail digital twin, a GIS-powered 3D model enhancing infrastructure planning and asset management through virtual simulation. Our final article highlights a milestone for the EnergyConnect project, with upgrades to the Wagga Wagga substation boosting renewable energy transmission and inter-state energy sharing.

Hope you enjoy the articles and have a great weekend!

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Norway launches world’s first full-scale carbon capture and storage value chain 

The carbon capture system “Longship” carves a new standard for industrial emissions reduction, and will include two carbon capture facilities and intake a combined 750,000 tonnes per year by 2029. The project will also transport liquefied CO2 by ship to be injected 2.6km under the North Sea, and the “Northern Lights” component will offer open-access, scalable CO2 storage for emitters. Read more here.

Australia launches sustainable finance taxonomy to guide net zero investment 

Australia has released its first sustainable finance taxonomy, providing a science-aligned, Paris-compatible framework to steer investments toward net zero. Developed by the Australian Sustainable Finance Institute (ASFI) with strategic oversight from the Treasury and regulators, the taxonomy marks a major step under the Government’s Sustainable Finance Roadmap. Read more here.

Australia’s newest subway comes to life inside a GIS-powered digital twin 

Brisbane’s Cross River Rail project compiles many “Building Information Modeling” (BIM) files into one giant, technically accurate 3D model powered by GIS. Critically, it depicts tunnel designs in relation to the surrounding metropolitan infrastructure, streamlining asset management. Gaming engines also allow this “digital twin” to be explored virtually by architects and planners. Read more here.

EnergyConnect celebrates new milestone 

Infrastructure upgrades to the 330kv Wagga Wagga substation have been finalised as part of the EnergyConnect project. The project, which began in 2022, strengthens links between NSW, SA and Vic energy grids and improves cross-border energy sharing, and the new and improved Wagga Wagga site will link South-Western renewable zones to the wider transmission network. Read more here.

Mapping Whale Migration

A new interactive map was recently launched by The Blue Corridors Initiative that visualises the movement of whale populations. It also maps the different threats and risks these face, which aims to help with conservation and protection efforts around the world.

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