Federal Member for Fairfax and Chair of the House of Representatives Standing Committee on the Environment and Energy has welcomed this morning’s release of the Liberal National Government’s Technology Investment Roadmap.
The discussion paper focuses on investment in low emissions technologies that strengthen Australia’s economy and support jobs and businesses as a priority of the Government on the road to recovery from COVID-19, and to help Australia reduce global emissions.
Federal Member for Fairfax, Ted O’Brien MP, said the Government’s Technology Investment Roadmap is about more than just reducing emissions.
“We are focused on backing new industries that will help regional communities and local economies on the Sunshine Coast to prosper,” Mr O’Brien said.
“We will focus on the technologies where we have a competitive advantage.”
“Real action on technology, not taxes, is the pathway to further remissions reduction here and around the world.”
The Government will back new and emerging technologies that will increase the productivity of export sectors like agriculture, energy, metals and minerals processing.
It is also focusing on technologies that allow Australia to capitalise on opportunities to develop new industries and jobs, and position us to support our trading partners’ plans to reduce emissions through the export of low emissions technologies, energy and other products.
Minister for Energy and Emissions Reduction Angus 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 regional economies,” 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.
The alternative is to sign up to long term targets without a clear plan. This approach 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.
The Technology Map Factsheet can be downloaded by clicking on the image below.