The Australian Renewable Energy Agency (ARENA) will provide $2 million for ClimateWorks Australia, a non-profit decarbonisation advisory, to accelerate the development and deployment of low emissions technologies.
The funding, supplied via the federal government, will assist in the next phase of the Australian Industry Energy Transitions Initiative (ETI), where Australian companies are working together to decarbonise industry supply chains.
Industries that this initiative is particularly focused on include:
- alumina and aluminium
- liquefied natural gas
- other metals (including lithium, copper and nickel)
- chemicals, such as plastics, fertilisers and explosives.
Together, these sectors represent more than a quarter of Australia’s industrial emissions, generating around $160 billion in export revenue annually.
The ETI also supports uptake of next generation energy technologies. Target technologies include green steel, hydrogen and carbon capture, use and storage (CCUS). All of these are priority areas under the federal government’s Technology Investment Roadmap.
Using low emissions technologies in Australia’s heavy industries will further drive economic growth and employ workers, according to minister for Energy and Emissions Reduction Angus Taylor.
“These sectors are key pillars of our economy both as employers of thousands of Australians and significant export earners,” Taylor said.
“Investing in the development and deployment of low emissions technologies today will ensure these important sectors can reduce their carbon footprint while supporting Australia’s economic growth well into the future.”
The government’s latest funding contribution to the ETI builds on ARENA’s initial $300,000 investment to help establish the initiative.
The ETI now has 16 participating companies including Rio Tinto, HSBC, BHP, Woodside, BlueScope Steel, BP Australia, Orica, APA Group, the Australian Gas Infrastructure Group, National Australia Bank, Schneider Electric, Fortescue Metals Group, Cbus, Aurecon, Australian Super and Wesfarmers Chemical, Energy & Fertilisers.
The government is supporting feasibility studies in projects via ARENA to decarbonise alumina refineries, operated by Rio Tinto and Alcoa.