Page 6 - AsiaElec Week 43 2021

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Australia unveils net zero roadmap,

remains committed to coal, gas

AUSTRALIA THE Australian government has not only laid the country’s progress.
out its plan to achieve carbon neutrality by Canberra expects that the government’s
2050 but has also thrown its support behind the AUD20bn ($15.02bn) investment in low-emis-
country’s coal and natural gas producers and sions technology over the next decade will
exporters. unlock at least AUD80bn ($60.08bn) worth of
Australian Prime Minister Scott Morrison similar private and public investment. The gov-
unveiled the government’s Long-Term Emis- ernment has highlighted green and blue clean
sions Reduction Plan (LTERP) on October 26, hydrogen, carbon capture and storage (CCS)
describing it as a “credible pathway” to net zero and energy storage as target areas for investment.
by 2050. Morrison said: “The plan will deliver results
Morrison said the country had already through technology, not taxes. It respects peo-
reduced emissions by 20.8% from 2005 levels ple’s choice, and will not force mandates on what
and that the LTERP would lower emissions by people can do or buy. It guarantees that we keep
a further 40%. Global technology trends are downward pressure on energy prices and secures
expected to reduce emissions by 15%, high-in- reliable power. It will ensure Australia continues
tegrity offsets will achieve a further 10% reduc- to serve traditional markets, while taking advan-
tion and “future technology breakthroughs” are tage of new economic opportunities.”
anticipated to close the gap. Energy and Emissions Reduction Minister
At the same time, and despite mounting pres- Angus Taylor, meanwhile, said the plan would
sure, Morrison said the 2050 target would not be preserve existing industries and jobs, adding:
enshrined in law and that five principles would “It will not shut down coal or gas production, or
guide the plan to ensure that “Australia’s shift require displacement of productive agricultural
to a net-zero economy will not put industries, land.”
regions or jobs at risk”. The government has noted that Australia
These principles are: technology not taxes; is expected to reduce emissions by up to 35%
expanding choices while avoiding mandates; by 2030 from 2005 levels, above the targeted
driving down new technology costs; keeping 26-28%.™
energy prices down; and being accountable for

P6 www. NEWSBASE .com Week 43 27•October•2021