The Technology Investment Roadmap addresses the biggest global challenge of our era – to rapidly reduce emissions in a way that supports economic growth.
Technology is key to achieving this ambition. The Low Emissions Technology Statement is the first major milestone in the Roadmap.
It identifies how emerging low emissions technologies can become economically competitive with and replace high emission incumbents, just as electric light bulbs replaced kerosene lamps, and are now being replaced by LEDs.
For the Roadmap, I am confident that the combination of Australian ingenuity and clearly articulated Government support will see these technologies rapidly become competitive.
I’ve been fortunate in recent years to contribute to the building blocks that are supporting an orderly transition to a low emissions future.
In 2017, the review of the National Electricity Market set in motion important reforms that continue to be implemented through the work
of the National Cabinet Energy Reform Committee. In 2019, the adoption of the National Hydrogen Strategy by all Australian governments stimulated domestic and international investor interest in the use of clean hydrogen as a chemical feedstock, for energy storage and for exporting renewable energy. And now, in 2020, the Low Emissions Technology Statement identifies the next steps required to accelerate the economically effective adoption of priority and enabling technologies through a principles-based investment framework.
I offer my sincere thanks to Minister Taylor for his engagement, insight and forward thinking, which gave direction to this project from start to finish, and I commend his key role in the development of the National Hydrogen Strategy last year. The Panel members Alison Watkins, Ben Wilson, Drew Clarke, Grant King, Jo Evans and Shemara Wikramanayake all have broad industry, policy and energy markets expertise that
has enabled them to consider the technology challenges from the perspectives of industry, investment and shared benefits across the community. I thank them deeply for their wise counsel throughout.
I thank the leadership of the Department of Industry, Science, Energy and Resources for their guidance and support, and I extend my warm appreciation to the masterful taskforce that did all the hard work.
Finally, it is my pleasure to note the broad engagement from the public during the consultation process. The workshops and the written
submissions helped us greatly in formulating our advice to the Minister.
Dr Alan Finkel AO
Australia’s Chief Scientist
Chair, Ministerial Reference Panel