The Federal Government is reshaping the nation's approach to reducing carbon emissions, turning the focus to backing a select few technologies and supporting heavy industry.
Energy Minister Angus Taylor will announce the Government's new energy policy at the National Press Club on TuesdayIn his speech, Mr Taylor will state "Australia can't and shouldn't damage its economy to reduce emissions"
The NEG would have let the market determine how to meet targets on reliability and emissions reduction, while the Technology Investment Roadmap will fund particular approaches to helping industry reduce their emissions. For soil carbon, the goal is to reduce the cost of measurement to less than $3 per hectare per year, which would be a 90 per cent reduction.
The Federal Government also wants fast-track approval of methods to reduce emissions that can be funded by the Emissions Reduction Fund — in particular, soil carbon and carbon capture and storage. The Technology Investment Roadmap is the plan the Federal Government will present as Australia's long-term strategy for reducing emissions to the next round of global climate change talks, which was delayed this year because of the coronavirus pandemic.While the Government will focus almost all of its efforts on the five priority low-emissions technologies, the roadmap includes a hierarchy of other technological approaches to reducing emissions.
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