PERTH (miningweekly.com) – Australia will partner with the Republic of Korea (ROK) to drive increased adoption of low and zero emissions technologies through a new low and zero emissions technology partnership.
Prime Minister Scott Morrison and President Moon Jae-in agreed the partnership during bilateral talks at the G20 summit in Rome, ahead of COP26 in Glasgow.
“Australia and ROK share a forward facing relationship that is rising to new challenges, and today I was delighted to begin a new partnership that will position both Australia and ROK to play a leadership role in the global response to climate change, a defining challenge and opportunity of our time,” Morrison said.
“The partnership recognises our shared commitment to an ambitious, technology-led approach that will achieve the goals of the Paris Agreement by ensuring we reduce greenhouse gas emissions, while also growing our economies and creating jobs.
“Together, we share the ambition of accelerating the development and commercialisation of low and zero emissions technologies, both existing and emerging, to achieve cost parity with high emitting technologies as soon as possible.
“The partnership also commits us to advancing technologies and trade systems for hydrogen supply, low emissions steel and iron ore, and carbon capture, utilization and storage as early priorities.
“This commitment builds on partnerships Australia has already entered into with Indonesia, Germany, Singapore, Japan and the UK. This is another example of the commitments we made in our long term emissions reduction plan delivering tangible, practical outcomes that will see technology lead the way to achieving our target of net zero emissions by 2050, while establishing Australia as a leader in low emissions technologies, and positioning our regions to prosper.”
The ROK is Australia’s fourth largest trading partner and a major buyer of Australian resources and energy, including iron ore, coal and liquefied natural gas (LNG).
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the low and zero emissions technology partnership would strengthen cooperation and help Australia achieve our long term emissions reduction plan while also accelerating global emissions reduction efforts.
“Australia and the ROK share the ambition of advancing the development and commercialisation of low and zero emissions technologies so they can achieve cost parity with high-emitting technologies as soon as possible,” Taylor said.
“We will collaborate on technologies, including clean hydrogen and clean ammonia supply; low emissions iron-ore and steel; hydrogen fuel cell electric vehicles; hydrogen power generation; carbon capture, use and storage; energy storage; solar; and the critical minerals supply chain.
“Getting new energy technologies to parity with higher emitting alternatives will enable substantial reductions in global emissions.”
Through the partnership, the ROK will support research on hydrogen supply chains between ROK and Australian companies.
Taylor said Australia will work closely on this initiative with the ROK, while also pursuing a low emissions steel and iron ore initiative that looks to reduce emissions across the supply chain.