Latest News

Australia to drive low emissions technology adoption with Korea


A partnership between Australia and the Republic of Korea (ROK) has been established during bilateral talks at the G20 summit in Rome, ahead of COP26 in Glasgow, to drive the adoption of low and zero emissions technologies. 

“Australia and ROK share a forward-facing relationship that is rising to new challenges, and today I was delighted to begin a new partnership that will position both Australia and ROK to play a leadership role in the global response to climate change, a defining challenge and opportunity of our time,” Prime Minister Scott Morrison said. 

“The Partnership recognises our shared commitment to an ambitious, technology-led approach that will achieve the goals of the Paris Agreement by ensuring we reduce greenhouse gas emissions, while also growing our economies and creating jobs. 

“Together, we share the ambition of accelerating the development and commercialisation of low and zero emissions technologies, both existing and emerging, to achieve cost parity with high emitting technologies as soon as possible.” 

The new Australia-Republic of Korea Low and Zero Emissions Technology Partnership will commit Australia in advancing technologies and trade systems for hydrogen supply, low emissions steel, iron ore and carbon capture, utilisation and storage. 

“This commitment builds on partnerships Australia has already entered into with Indonesia, Germany, Singapore, Japan and the UK,” Morrison said. 

“This is another example of the commitments we made in our Long-Term Emissions Reduction Plan delivering tangible, practical outcomes that will see technology lead the way to achieving our target of net zero emissions by 2050, while establishing Australia as a leader in low emissions technologies and positioning our regions to prosper.” 

The Republic of Korea is Australia’s fourth largest trading partner and a major buyer of Australian resources and energy – including iron ore, coal and LNG. 

The Low and Zero Emissions Technology Partnership will strengthen cooperation and help Australia achieve our Long-Term Emissions Reduction Plan while reducing global emissions faster. 

“Australia and the Republic of Korea share the ambition of advancing the development and commercialisation of low and zero emissions technologies, so they can achieve cost parity with high-emitting technologies as soon as possible,” minister for Industry, Energy and Emissions Reduction Angus Taylor said. 

“We will collaborate on technologies, including clean hydrogen and clean ammonia supply; low emissions iron ore and steel; hydrogen fuel cell electric vehicles; hydrogen power generation; carbon capture, use and storage; energy storage; solar; and the critical minerals supply chain. 

“Getting new energy technologies to parity with higher emitting alternatives will enable substantial reductions in global emissions.” 

Brokered by Dr Alan Finkel in his role as special adviser to the Australian government on Low Emissions Technology, the partnership is aligned with Australia’s technology-led approach to reducing emissions. It will help deliver on the goals of the Technology Investment Roadmap. 

Through the partnership, the Republic of Korea will support research on hydrogen supply chains between ROK and Australian companies. 

Australia will work closely on this initiative with the Republic of Korea, while pursuing a low emissions steel and iron ore initiative that looks to reduce emissions across the supply chain. 

This partnership is part of the government’s $565.8 million commitment to build new international technology partnerships that make low emissions technologies cheaper and drive investment in Australia-based projects, to create up to 2,500 jobs. 

Leave a Reply

Send this to a friend