Funding boost to help industry adopt low emissions technology
The Morrison Government is investing $2 million in an initiative to support industry to accelerate the development and deployment of low emissions technologies.
The funding will be provided through the Australian Renewable Energy Agency (ARENA) to ClimateWorks Australia to assist in the next phase of the Australian Industry Energy Transitions Initiative (ETI).
Through the ETI, some of Australia’s biggest companies are working together to decarbonise industry supply chains across hard-to-abate sectors, with a particular focus across:
- iron and steel;
- alumina and aluminium;
- liquefied natural gas;
- other metals (including lithium, copper and nickel); and
- chemicals, such as plastics, fertilisers and explosives.
Together, these sectors represent more than a quarter of Australia’s industrial emissions and generate around $160 billion in export revenue annually.
The program is also focused on supporting uptake of the next generation of energy technologies. Target technologies include green steel, hydrogen and carbon capture, use and storage (CCUS) – all of which are priority areas under the Government’s Technology Investment Roadmap.
Minister for Energy and Emissions Reduction Angus Taylor said the adoption of low emissions technologies by Australia’s heavy industries will ensure they continue to drive economic growth and employ Australians while reducing emissions.
"These sectors are key pillars of our economy both as employers of thousands of Australians and significant export earners,” Minister Taylor said.
“Investing in the development and deployment of low emissions technologies today will ensure these important sectors can reduce their carbon footprint while supporting Australia’s economic growth well into the future.”
The Government’s latest funding contribution to the ETI builds on ARENA’s initial $300,000 investment to help establish the initiative.
The ETI now has 16 participating companies including Rio Tinto, HSBC, BHP, Woodside, BlueScope Steel, BP Australia, Orica, APA Group, the Australian Gas Infrastructure Group, National Australia Bank, Schneider Electric, Fortescue Metals Group, Cbus, Aurecon, Australian Super and Wesfarmers Chemical, Energy & Fertilisers.
The Government is already investing in projects through ARENA to reduce emissions in energy-intensive industries, including supporting feasibility studies into the decarbonisation of alumina refineries operated by Rio Tinto and Alcoa.
Minister Taylor's office: 02 6277 7120