Investing in low emissions technologies to strengthen our economy and support jobs and businesses is a Morrison Government priority as we navigate the road to recovery from COVID-19.
The government has released the Technology Investment Roadmap discussion paper to bring a strategic and system-wide view on future investments in low emissions technologies.
With an opportunity to develop new industries and jobs, investing in new and emerging low-emission technologies is a win for the economy and a win for the environment.
Federal Member for Bonner Ross Vasta MP said the Technology Investment Roadmap was the next step in the Morrison Government’s technology not taxes approach to reducing emissions.
“We are focused on putting Australia at the forefront of research and development and maintaining our strong track record of reducing global emissions,” Mr Vasta said.
“Emissions are lower today than when we were elected in 2013 and deploying the right technology when and where it is needed will allow Australia to capture new opportunities to reduce emissions even further.
“Real action on technology, not taxes, is the pathway to further remissions reduction here and around the world.”
Minister for Energy and Emissions Reduction Angus Taylor said there was 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.
“This is about developing technologies to support jobs growth and this is also about ensuring mums and dads and small businesses are paying a fair cost for energy, and not imposing taxes on them,” Minister Taylor said.
“At its core, this is about technology not taxes.
“It means reducing emissions, not reducing jobs and the economy and it is an approach based on rigour, confidence, optimism, and Australian ingenuity not ideology.
“The alternative is to sign up to long term targets without a clear plan, an approach that will penalise energy-intensive industries and reduce economic activity.”
The Roadmap goals will be developed in consultation with industry, researchers and the financial sector, with progress reported through an annual Low Emissions Technology Statement.
The Roadmap will be a cornerstone of Australia’s Long Term Emissions Reduction Strategy, to be released ahead of COP26.
The Government has already made substantial investments in clean energy technology, with more than $10 billion invested in more than 670 clean energy projects with a total project value in excess of $35 billion.
To contribute to this important national conversation or learn more about the Roadmap process, visit https://consult.industry.gov.au/climate-change/technology-investment-roadmap/.
Written submissions are open until Sunday 21 June 2020.