Harnessing New Technology to Grow Jobs and the Economy and Lower Emissions

MEDIA RELEASE:

The Hon Angus Taylor MP
Minister for Energy and Emissions Reduction

James Stevens MP
Member for Sturt

MEDIA RELEASE

HARNESSING NEW TECHNOLOGY TO GROW JOBS AND THE ECONOMY AND LOWER EMISSIONS

Investment in low emissions technologies that strengthen our economy and support jobs and businesses are a priority of the Morrison Government on the road to recovery from COVID-19, and to help Australia reduce global emissions.

Today, the Government has released the Technology Investment Roadmap discussion paper, that will bring a strategic and system-wide view to future investments in low emissions technologies.

The Government will back new and emerging technologies that will allow Australia to capitalise on opportunities to develop new industries and jobs.

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.

“This is about developing technologies that will support jobs growth. This is about ensuring that mums and dads and small businesses are paying a fair cost for energy and not imposing taxes on them,” 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.

Member for Sturt James Stevens MP said the Government’s Technology Investment Roadmap paper is the next step in the Morrison Government’s technology not taxes approach to reducing emissions.

“We are focused on putting Australia at the forefront of research and development and maintaining our strong track record of reducing global emissions. Emissions are lower today than when we were elected in 2013,” Mr Stevens said.

“Deploying the right technology when and where it is needed will allow Australia to capture new opportunities to reduce emissions.”

“Real action on technology, not taxes, is the pathway to further remissions reduction here and around the world.”

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.

ENDS

Minister Taylor’s office: Liam O’Neil, 0428 113 617

James Stevens’ office: Aric Pierce, 0435 018 371