The $5 billion Net Zero Fund will help to deliver on the Australian Government’s Net Zero Plan, as part of the Industry Sector Plan.
The Net Zero Fund will support investments in large industrial facilities seeking to decarbonise. This includes investing in the technologies and capital infrastructure required to transition to lower emissions or more productive processes. It will also support scale-up of manufacturing renewables and low emissions technologies.
The Net Zero Fund will focus on supporting large-scale industrial facilities as they decarbonise their assets. This will ensure that Australia retains industrial capabilities vital to our national interest while working towards our 2035 target.
The Net Zero Fund will be a sub-fund of the National Reconstruction Fund (NRF), drawing from and refocusing existing NRF capital. The NRF Corporation will be responsible for its delivery.
We are now consulting on key issues that will inform the fund design. The feedback we get will help us understand how to best achieve our net zero objectives.
This includes understanding:
- scope of projects or capital expenditure to invest in
- total investments needed
- best financing mechanisms
- opportunities to complement established financing vehicles.