New investments in clean hydrogen and carbon capture technologies are set to create more jobs including in the Latrobe Valley.
Federal Member for Gippsland Darren Chester welcomed the announcement that Latrobe Valley is likely to benefit from a hydrogen hub.
Mr Chester said as we recovered from the COVID-19 pandemic, the Federal Government was continuing to prioritise investment in technologies that support jobs and economic recovery and reduce emissions.
“One of the priority technologies identified by the Federal Government’s Technology Investment Roadmap is clean hydrogen,” Mr Chester said.
“Latrobe Valley is well placed to be the home of a hydrogen hub with large scale industrial energy demand, a skilled workforce, existing infrastructure that can be utilised and proximity to energy resources.”
The Federal Government’s 2021-22 Budget will invest a further $539.2 million in new clean hydrogen, carbon capture, use and storage (CCS/CCUS) projects that will support industry, create jobs, help cut emissions and drive investment.
- $275.5 million to accelerate the development of four additional clean hydrogen hubs in regional Australia and implement a clean hydrogen certification scheme.
- $263.7 million to support the development of CCS/CCUS projects and hubs.
Mr Chester said we need to support jobs especially in our heavy industries and regional areas that depend on affordable and reliable energy like here in Latrobe Valley.
“Investing in technologies now will ensure that we support our industries into the future, with lower emission energy that can support local jobs,” Mr Chester said.
Australia’s Technology Investment Roadmap is a plan to create jobs, cut energy costs and reduce emissions.
The Roadmap will guide $18 billion of Government investment over the next 10 years and drive at least $70 billion of total new investment in low emissions technologies in Australia by 2030. Our plan will support 130,000 jobs by 2030 and avoid in the order of 250 million tonnes of emissions by 2040.
Investing in low emissions technologies will contribute to Australia’s continued success in meeting and beating our emissions reduction targets. Australia beat its 2020 target by 459 million tonnes and we are on track to meet and beat our 26-28 per cent 2030 Paris target.