Australia Includes New Climate Priority That Again Does Not Have Details
- Country adds sixth aspect to priority price reduction targets
- Roadmap does not define investment or release targets
Australia has updated its intend on striking net-zero emissions by 2050, including an additional priority area to increase decarbonization initiatives however providing few specifics.
" Ultra low-cost solar" was included as a 6th component of the Low Emissions Technology Statement, which is main to a A$ 20 billion ($ 15 billion) plan by Prime Minister Scott Morrison's government to minimize emissions. The program will certainly seek to generate solar energy at A$ 15 a megawatt-hour, or concerning a third of present prices.
" Consisting of 'ultra low-cost solar' in the LETS for 2021 offers an unclear sense of excellent information for the industry, however does elevate even more concerns than it responds to," claimed Leonard Quong, a BloombergNEF expert in Sydney. "The Technology Investment Roadmap is the Australian government's flagship decarbonization plan, carefully designed to offer an exterior of significant action on reducing discharges."
The statement came after the government previously today commended Santos Ltd. for its brand-new carbon capture and storage space project. That proposal has run the gauntlet since it means taxpayers are partially moneying the exhausts decreases of a nonrenewable fuel source company. Carbon capture is another of the six key technologies flagged in Australia's roadmap together with clean hydrogen, power storage space, low exhausts steel and aluminum manufacturing and also dirt carbon.
Morrison has today faced criticism at the United Nations COP26 environment talks in Glasgow, Scotland, over his government's support of fossil fuel industries and plans to take on environment adjustment.
" The roadmap does not set out investment or deployment targets, or seek to apply any type of new policy systems to drive decarbonization," Quong said. "In other words, it provides the exactly how, but not the why, when or by how much, of decreasing Australian carbon exhausts."