International partnerships to accelerate low emissions technology
The Australian Government will invest more than half a billion dollars into building strategic international partnerships to make low emissions technologies cheaper than high emitting alternatives.
Through the 2021-2022 Budget:
- $565.8 million will be invested into establishing low emissions technology partnerships and initiatives with key trading and strategic partners.
This funding will advance and support the goals of Australia’s Technology Investment Roadmap as we ramp up our effort to reduce emissions while supporting economic growth and lowering energy costs.
With partner countries, Australia will:
- co-fund research and demonstration projects that drive down the costs of low emissions technologies
- facilitate deployment and export of home-grown low emissions technologies and energy
Getting low emissions technologies to commercial parity means developing countries won’t have to choose between growth and decarbonisation. This is the key to unlocking substantial reductions in global emissions.
Australia’s Special Adviser on Low Emissions Technology, Dr Alan Finkel will play a key role in brokering new International partnerships.
It is expected that Australia’s Technology Investment Roadmap will lead to:
- $18 billion of Government investment over the next 10 years
- at least $70 Billion of new investment into low emissions technologies in Australia by 2030
- 130,000 jobs by 2030
- 250 million tonnes of emissions reduction by 2040
- The Minister announced funding for international partnerships to accelerate low emissions technology on 22 April 2020
- Read the Technology Investment Roadmap: First Low Emissions Technology Statement 2020
- Read about the Special Adviser on Low Emissions Technology