PERTH (miningweekly.com) – The federal government on Thursday released the Technology Investment Roadmap discussion paper, which is aimed at bringing a strategic and system-wide view to future investments in low emissions technologies.

Minister for Energy and Emissions Reduction Angus Taylor said that investment in low emissions technologies that strengthen the Australian economy and support jobs and businesses were a priority of the government on the road to recovery from Covid-19, and to help Australia reduce global emissions.

He added that there was enormous potential in technologies like hydrogen, carbon capture and storage (CCS), soil carbon sequestration, biofuels, resources and energy exports to reduce emissions while strengthening the economy.

“The government is committed to reducing emissions without imposing new costs on households, while at the same time growing businesses and the economy,” Taylor said.

“At its core, this is about technology not taxes. It means reducing emissions, not reducing jobs and the economy. It is an approach based on rigour, confidence, optimism, and Australian ingenuity not ideology.

“The government’s Technology Investment Roadmap is about more than just reducing emissions. This is about developing technologies that will support jobs growth. This is about ensuring that mums and dads and small businesses are paying a fair cost for energy and not imposing taxes on them. This is about backing new industries that will help our regional communities and local economies to prosper. This is about putting Australia at the forefront of research and development, and maintaining our strong track record of reducing global emissions.”

Taylor said that the alternative was to sign up to long-term targets without a clear plan, which would penalise energy-intensive industries and reduce economic activity. 

“Other countries, particularly our largest trading partners, are reluctant to commit to policies and targets with material economic costs. 

“Australia will play its role on the global stage by partnering with other nations to accelerate technologies with high abatement potential. Reducing emissions in a way that benefits the economy of these countries is the only way to broad agreement on a way forward,” the Minister said.

The Roadmap goals will be developed in consultation with industry, researchers and the financial sector, with progress reported through an annual Low Emissions Technology Statement.

The Minerals Council of Australia (MCA) on Thursday said that the discussion paper would accelerate emissions reduction in Australia through a sensible and systematic approach based on current and future low emissions technologies which offer the best prospects for Australia.

“The MCA has always advocated for a genuinely technology-neutral approach to reducing emissions which embraces global best practice and the adoption of CCS and advanced nuclear technology as well as renewables, gas, coal with CCS and pumped hydro,” said MCA CEO Tania Constable.

“The Roadmap reflects the latest international developments and when combined with the King Review into additional sources of low cost abatement, will play an important role in Australia meeting its international commitments under the Paris Agreement. 

“A technology-neutral approach and adoption of the best available technology will help Australia play its part in reducing emissions while providing energy security so key industries such as mining and minerals processing remain internationally competitive.”

The Australian Petroleum Production and Exploration Association (Appea) has also welcomed the release of the discussion paper, with CEO Andrew McConville agreeing that the path to a lower carbon future must include investing in energy technology at home and abroad.

“The discussion paper clearly identifies the need for a system-wide appreciation of our energy requirements and that there are different roads we can take to get there. At a time when the economy is under significant pressure from the challenges associated with Covid-19, investing in cleaner energy technologies makes sense, from an emissions perspective and to strengthen our economy.”

“Australia’s natural gas industry is a high-technology industry, and the discussion paper recognises the important role that the industry will continue to deliver for Australia and for the world. Emerging technologies like carbon capture and storage, hydrogen, and the increasing role renewables continue to play are all significantly underpinned by natural gas in our energy mix today,” McConville said.

The paper also recognises the role Australia’s liquefied natural gas (LNG) exports are continuing to play in reducing the emissions profile of its trading partners, with the country’s trading partners indicating that LNG would play an important role in decarbonising their electricity system.

“Reducing global emissions is a global effort, and as an energy exporter Australia is doing its part through many channels. Our LNG exports can substitute gas for more emissions-intensive fuels and have the potential to reduce greenhouse gas emissions by 163-million tonnes in our trading partners,” said McConville.

The government has appointed a Ministerial Reference Panel, led by Australia’s Chief Scientist Dr Alan Finkel, to support the development of the first Low Emissions Technology Statement that will be published later this year.

The Roadmap will be a cornerstone of Australia’s Long Term Emissions Reduction Strategy, to be released ahead of COP26.