Australian Government releases Technology Investment Roadmap Discussion Paper
21st May 2020
Minister for Energy and Emissions Reduction, Angus Taylor, today released the Technology Investment Roadmap Discussion Paper, aiming to deliver a "strategic and system-wide view to future investments in low emissions technologies".
The release of the Paper signals a positive step forward for the commercialisation of CCS technologies in Australia. The Paper highlights CCS's important role to decarbonise hard to abate industry such as steel and cement, as well as it's application to natural gas and coal and for clean hydrogen production. With a focus on creating jobs and a sustainable economic recovery from COVID-19, the role for CCS is also clear.
Minister Taylor said the Government sees enormous potential in technologies like hydrogen, carbon capture and storage, soil carbon sequestration, biofuels, resources and energy exports to reduce emissions while strengthening our economy.
“The Government is committed to reducing emissions without imposing new costs on households, while at the same time growing businesses and the economy,” Minister Taylor said.
“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.
From now until June 21, stakeholders are invited to contribute to this process by providing feedback in response to the questions detailed in the discussion paper and through targeted consultation to be conducted by a Ministerial Reference Panel and the Department of Industry, Science, Energy and Resources.
It is expected the first annual Low Emissions Technology Statement to be delivered to Parliament in September, articulating the Government’s technology investment priorities and progress towards them. Following this, Australia’s technology-focussed Long Term Emissions Reduction Strategy will be released prior to the now delayed UNFCCC COP-26 meetings in Glasgow.