MOSCOW (Pakistan Point News / Sputnik - 21st April, 2021) Australia's Prime Minister Scott Morrison has promised to invest 539.2 Australian Dollars (approximately $416.1 million) in clean hydrogen, carbon capture, use and storage projects (CCS/CCUS) in an attempt to bring down the country's emissions and create around 2,500 new jobs as part of the Australia Technology Investment Roadmap.
"Our technology-first approach will see Australia achieve its emissions reduction goals while continuing to grow our export industries and also supporting our trading partners' efforts to decarbonise," the prime minister said as quoted by news.com.au.
According to Morrison, the investment scheme aims to make clean energy more "affordable and reliable" for businesses, as well as encourage more people to work.
Around half of the budget will be invested in the production of four additional clean hydrogen hubs and the organization of a clean hydrogen certification scheme. The rest will be invested in the development of CCS/CCUS hubs.
"It's a tangible example of our commitment to being a low-emissions technology leader and reducing emissions through technology not taxes, or imposing costs on households, businesses or the economy," Minister of Energy and Emissions Reduction Angus Taylor said as quoted by the news agency.
Taylor added that the government aims to meet the zero emissions target by 2030.
Australia is planning to collaborate with other governments on low emissions technologies including Germany, Japan, Singapore, South Korea, the United Kingdom and the United States.
The Australia Technology Investment Roadmap is anticipated to receive $18 billion of government investment in the next 10 years, support around 130,000 new jobs and bypass approximately 250 million tonnes of emissions by 2040.
The UK has also announced new measures on Tuesday aimed at cutting down carbon emissions by 78% by 2035 in order to reach a zero emissions target by 2050.
