Global CCS Institute Welcomes Australian Net Zero Commitment
26th October 2021
The Global CCS Institute has welcomed the announcement of a net-zero 2050 commitment from the Australian Federal Government. The announcement includes a plan to reach the target, defining a role for carbon capture and storage (CCS) in delivering emissions reductions.
The Institute’s CEO, Jarad Daniels, said the commitment and plan to achieve net-zero emissions realigns Australia with global climate ambition and opens the opportunity for the nation to be a clean energy leader.
“A commitment to achieve net-zero emissions by 2050 is encouraging from one of the world’s biggest energy exporters. Aligning with the global economy on climate establishes an important framework for reducing emissions and investing in clean energy and climate mitigation,” said Mr Daniels.
“CCS will play a vital role in our global response to climate change – the technology suite is commercially available and is well placed to decarbonise a broad range of sectors, supporting existing jobs and creating new ones.”
“The Government’s plan has reaffirmed that regional Australia stands to gain substantially from the energy transition through the development of new industries like hydrogen and the decarbonisation of existing industries such as natural gas, cement, chemicals and steel through CCS.”
The Institute’s General Manager – Commercial, Alex Zapantis, commended the commitment, saying interim targets before 2050 would provide further policy confidence for investors.
“Identifying a role for CCS in achieving net-zero, following recent funding announcements and the inclusion of CCS under the Emissions Reduction Fund, is timely and very welcome. In reducing emissions, CCS will play a role alongside renewables, energy efficiency measures, nature-based solutions and other clean energy and climate mitigation solutions.”
“Investment in CCS and other climate mitigation and clean energy technologies, including necessary supporting infrastructure, will be delivered in the critical timeframe to 2050 as a result of policy confidence guided by clear short- and medium-term targets. A clearer plan for decarbonisation with interim targets will be useful and necessary,” said Zapantis.
”We look forward to Australia’s engagement in COP 26 in Glasgow.”
The Institute recently released the Global Status of CCS report, highlighting substantial global growth across the sector in 2021.
Matt Steyn Senior Advocacy and Communications Adviser (Asia Pacific): +61 (0)405 018 007 firstname.lastname@example.org
About the Global CCS Institute: The Global CCS Institute is an international think tank whose mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology to tackle climate change and provide energy security. For more information, visit www.globalccsinstitute.com.