Melbourne, Australia: The Australian Hydrogen Council (AHC) has today commended the Australian Government on setting an ambitious 62-70% emissions target range below 2005 levels by 2035.
The Australian Government today released its Net Zero Plan, six sector plans and Treasury modelling to outline the pathway for achieving the emissions reduction target. This includes $5 billion for the Net Zero Fund through the National Reconstruction Fund to help industrial facilities decarbonise, scale up more renewables and low emissions manufacturing, and $2 billion for the Clean Energy Finance Corporation to drive downward pressure on electricity prices.
CEO of the Australian Hydrogen Council Dr Fiona Simon said:
“AHC is pleased to see the Australian Government demonstrate strong climate change leadership by setting an ambitious 62-70% emissions reduction target range by 2035.
“Hydrogen has a key role to play in the decarbonisation priorities set out in the Net Zero Plan including expanding clean fuel use and accelerating new technologies. We need to build hydrogen capability to decarbonise heavy transport and Australia’s highest emitting industrial markets including alumina, iron and steel manufacturing, and chemicals manufacturing.
“Achieving these targets will require a strong collective effort between all levels of government, clean fuel and energy enablers, climate tech innovators and industrial markets in Australia and abroad, to both decarbonise and create economic opportunities that benefit all Australians.
“We need to match this bold ambition with the right policy settings and planning to deliver the upside scenarios projected by Treasury. This will require government investment to fund common user infrastructure and bundle up investment opportunities to attract greenfield heavy industrial projects, grow regional precincts in strategic locations such as the Pilbara, Bell Bay and Newcastle.
“Heavy industry is operating multi-billion dollar, multi-decade lifecycle assets underpinned by long-term customer contracts which means we have to lock in investment decisions over the next few years if we want to achieve net zero by 2050. Hydrogen is an enabling molecule for industry and heavy transport to decarbonise, and we are working closely with these markets to ensure hydrogen is available when it is needed.
“We look forward to working closely with the Australian Government on achieving its 2035 emissions reduction target, and delivery against the Net Zero Plan and individual sector plans.”
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About Australian Hydrogen Council
The Australian Hydrogen Council is the peak representative body for the Australian hydrogen industry, with members from across the hydrogen value chain. We represent the emerging hydrogen industry and connect it with its stakeholders to collectively create a clean and resilient energy future that has hydrogen as a key part of the energy mix. Read more at www.h2council.com.au.
You can download the full PDF here.