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COP30 wrapped up with a mixed bag of outcomes, leaving no constituency satisfied with the final result. While some progress was made on the Just Transition and Adaptation Finance, there was a backtracking on the commitment agreed in Dubai two years ago to phase out of fossil fuels. Progress on reducing the key contributor to climate change will be pursued outside the formal UNFCCC process with a coalition of more than 80 countries, including Australia, committing to voluntarily curb fossil fuels.

ASIC has taken enforcement action against the research house, SQM Research Pty Ltd, to hold it responsible over its role in assigning favourable ratings to the now collapsed Shield Master Funds. It is the fifth enforcement proceeding commenced by ASIC in relation to the Shield Master Funds, in which over 5,800 investors invested their money.

The recent decision in Newmont Canada FN Holdings ULC v Commissioner of Taxation (No 2) [2025] FCA 1356 represents a pivotal development in the valuation of mining projects for tax purposes, particularly for foreign investors.