Federal Government releases emission reduction roadmap
The Federal Government has released the Technology Investment Roadmap Discussion Paper, outlining Australia’s strategies for reducing emissions while growing the economy as the country recovers from COVID-19.
Minister for Energy and Emissions Reduction Angus Taylor released the discussion paper on Thursday, detailing the frameworks identified to accelerate low emissions technologies in Australia, ready for consultation with industry, researches and financial stakeholders.
According to Minister Taylor, the strategies laid out in the roadmap discussion paper focused on projects with potential to greatly strengthen the economy while positively affecting household costs as well.
“The Government is committed to reducing emissions without imposing new costs on households, while at the same time growing businesses and the economy,” said Minister Taylor.
“At its core, this is about technology not taxes. It means reducing emissions, not reducing jobs and the economy. It is an approach based on rigour, confidence, optimism, and Australian ingenuity not ideology.”
The discussion paper delved into over 140 possible future technologies, identifying several that posed great potential to the future of reduced emissions in Australia.
These included carbon capture and storage (burying carbon emissions deep underground), soil carbon sequestration, biofuels and energy exports.
The technology investment roadmap also heavily features technologies that are likely to heavily affect the future of transport.
Hydrogen has been identified as a technology with enormous potential, with Australia determined to be well placed to develop a hydrogen export sector.
The potential of hydrogen has been a featured talking point in recent times in automotive circles, with hydrogen fuel cell vehicles viewed as a future rival of electric vehicles as the successor to combustion engine vehicles. Australia developing their own hydrogen economy and sourcing cheap hydrogen fuel would provide an added boost to the fledgling automotive technology.
With the technology investment roadmap discussion paper now released, clear goals will now be set for the most important and prospective technologies, as the country looks to release Australia’s Long Term Emissions Reduction Strategy.
Stakeholders are being asked to submit their views on the Technology Investment Roadmap Discussion Paper, with submissions closing Sunday 21 June 2020.
To read more about the Technology Investment Roadmap Discussion Paper, or submit a submission, click here.
Source: The Hon Angus Taylor MP | Harnessing new technology to grow jobs and the economy and lower emissions