Existing institutions, particularly ARENA, the CEFC and the CER, will play crucial roles in implementing the Technology Investment Framework.
The Minister for Energy and Emissions Reduction will issue new investment mandates for the CEFC and new statements of expectations for ARENA in line with annual Low Emissions Technology Statements to align their investment activities with Australia’s technology priorities and stretch goals. The CER will continue to administer the ERF auction mechanism, supporting carbon offset projects and incentivising voluntary emissions reduction on a broad scale through uptake of commercially deployable technologies.
The Ministerial Reference Panel will be converted into an enduring institution – the Technology Investment Advisory Council – to advise the Minister on Australia’s Low Emissions Technology Statements. The Chairs of ARENA, the CEFC and the CER will join the Council as ex officio members.
The Technology Investment Roadmap will be delivered in partnership with industry and the broader research community, including CSIRO, CRCs and Australia’s universities. The Roadmap will help provide a signal to these institutions regarding national priorities. CSIRO recently announced it is working with governments, universities, industry and the community on a new $100 million per year ‘missions’ program to bolster Australia’s COVID-19 recovery and build long-term national resilience.
Among other things, CSIRO is working towards missions closely aligned with Australia’s priority low emissions technologies, including:
- supporting the development of Australia’s hydrogen industry to generate a new clean energy export industry
- supporting new industries to transform raw mineral commodities into higher-value products like critical energy metals, thereby building Australia’s value-added product offerings, jobs and sovereign supply
- using technologies, such as CCS, systems modelling and grid integration technologies, to enable the transition of key industries to net zero emissions, without weakening our economy.