STOCK MARKET BSE NSE

Australia releases landmark roadmap for emissions reduction

According to the document, the development of a hydrogen industry in Australia would create 7,600 jobs by 2050.

Published: 21st May 2020 11:22 AM  |   Last Updated: 21st May 2020 11:22 AM   |  A+A-

Industrial area, Air pollution, Factory, Manufacturing plant

For representational purpose.

By IANS

CANBERRA: The Australian government on Thursday released a landmark roadmap for investment in emissions reduction technology.

Angus Taylor, the Minister for Energy and Emissions Reduction, released the long-awaited Technology Investment RoadMap on Thursday, setting out Australia's energy priorities, reports Xinhua news agency.

The paper considered more than 140 low-carbon technologies and identified priorities for short, medium and long-term objectives.

"We will back technologies that will strengthen the economy and not get ideological about where emission reductions come from," Taylor told News Corp Australia.

"The goal of this road map is to bring a strategic and system-wide view to future investments in low-emissions technologies.

"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, discipline and optimism, not ideology," he said.

Among the technologies considered were carbon capture and storage (CCS), hydrogen and biofuels.

According to the document, the development of a hydrogen industry in Australia would create 7,600 jobs by 2050.

It acknowledged the potential of nuclear power but warned of the cost and environmental factors.

The paper said that while renewables were the cheapest option questions remained over their reliability.

It said that liquefied natural gas (LNG) would play an important role "balancing" renewable energy sources.

"Flexible gas capacity will continue to play a crucial role in supporting variable renewable energy, alongside continuing growth in energy storage, demand management and innovative grid technologies as alternatives," the document said.

"As the world's largest LNG exporter, all of these factors will have implications for Australia's domestic gas market and export opportunities over the long term."

Taylor said he would outline the roadmap's long-term goals by the end of September and release a emissions reduction strategy soon after.

Stay up to date on all the latest World news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp