The federal government’s new $1 billion Low Emissions Technology Commercialisation Fund is a significant new initiative to incentivise continued low emissions technology development.
Announced by the Prime Minister this morning, the initiative adds to the nation’s arsenal of programs and policies to drive the development of key technologies necessary for emissions reduction.
The Fund will play an important role in driving the development and deployment of the technologies required to decarbonise Australia.
By addressing an investment gap facing these new technologies, the Fund will allow these to be properly developed.
Many of these technologies are being developed by Australia’s world leading resources sector including carbon capture use and storage, hybrid energy systems at mines sites and creation of clean hydrogen.
The MCA sees the focus on developing and deploying low emission technologies as the best way to meet Australia’s goal of net zero emissions by 2050 while also encouraging new investment in the broad range of minerals and resources required to meet rising domestic and international consumer demand.
