Economy
Australia looks to cleantech innovation to curb emissions
The Australian government has announced the launch of a Clean Technology Innovation Programme worth an estimated A$200m (£131m), as it looks to control its greenhouse gas emissions.
Although the country is some way off the likes of China, the US, India and Russia in terms of total carbon emissions, its emissions per capita score is one of the worst on the planet, as shown by a recent B> infographic.
Of the 18 biggest emitters in the world, Australia’s carbon levels compared to its population places it third, behind Saudi Arabia and the US.
The A$200m project will support the development of cleantech businesses, as well as those that table low emission and energy efficiency technologies, by providing co-investment grants between A$50,000 and A$5m in value.
The co-investment nature of the programme will see the government exactly match each successful firm’s sum.
“We are looking for innovative projects involving applied research and development, proof of concept or early stage commercialisation activities”, said Australia’s minister for industry and innovation, Greg Combet.
“The aim is to develop new clean technologies and associated services, including low emission and energy efficient solutions that reduce greenhouse gas emissions.”
The announcement of the cleantech programme is the latest attempt by Australia to curb its emissions through the development of clean technologies.
The country’s Clean Energy Finance Corporation – an equivalent of sorts to the UK’s Green Investment Bank – has been set up to provide A$10 billion worth of investment in order to “cut pollution and drive investment, helping to ensure Australia can compete and remain prosperous in the future”.
This, on top of the Clean Technology Innovation Programme, have been introduced to help Australia tackle the effects of climate change, particularly given the news that the country has witnessed its hottest period for a millennium in the last 60 years.
Solar, wind, wave, tidal hydro and geothermal technologies have all been marked as possible project types that could be eligible for the cleantech grant, as Australia looks to build for a low-carbon, sustainable and emission-free future.