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24 Jun 2020

Bipartisan Approach To Energy, Emissions Reduction Necessary

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Federal Labor’s support for the Federal Government’s Technology Investment Roadmap - including the use of carbon capture and storage (CCS) – as announced today by leader Anthony Albanese is a very welcome development.

Investment in technology will be central to reducing industry emissions and enabling new industries, while meeting the goals of the Paris Agreement.

Climate change is one of the most significant global challenges of our time, and one which requires a concerted, collective effort over many years to address.

The technologies needed to support the transition to a low emission global economy are also longterm in nature. The projects developed and deployed require significant investment and last decades, enduring many cycles of government.

COAL21 has been investing in low emission technologies for more than 10 years and one of the technologies we’re advancing is CCS because it can make the fastest, single most significant
contribution to emission reduction globally.

During this time Australia has been the first to capture carbon from a coal power station, has the world’s largest carbon capture facility in operation at the Gorgon LNG plant and has identified two
regions capable of safely storing billions of tonnes of CO2, permanently.

CCS, along with other low emissions technologies in which COAL21 is investing, have large-scale abatement potential, provide economic opportunity and leverage Australia’s comparative advantage.

We need all parties behind the effort to reduce emissions and bipartisan support for the Technology Investment Roadmap should give industry more confidence to invest and accelerate Australia’s
emission reduction efforts. We’ve seen with COVID-19 what can be achieved when all levels and sides of politics work together towards a shared objective.

COAL21 will continue to partner with government and industry to develop and deploy technologies that will make a significant contribution to emissions reduction now and for future generations.

ENDS

Media enquiries: Kate McNamara
E: kate.mcnamara@letaaustralia.com.au
T: +61 456 548 881

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