The New South Wales Government has launched landmark partnership agreements with four of the state’s highest emitting manufacturers to support their transitions to low carbon facilities.
New South Wales Treasurer and Minister for Energy, Matt Kean, said the companies include chemical manufacturer Orica, metal manufacturer Tomago Aluminium, cement producer Boral and starch manufacturer Manildra Group.
“We are working with industry to transform New South Wales into an innovative, thriving low carbon economy. Accelerating the deployment of deep decarbonisation technology will help industry prosper in a net zero economy and open up new markets for New South Wales-made products,” Mr Kean said.
“The studies focus on how we can adopt cutting edge clean technology right here in New South Wales like green hydrogen in cement manufacturing or renewable energy in aluminium smelting.
“These facilities combined emit more than ten million tonnes of carbon every year, equivalent to the emissions of more than 3.5 million cars. Helping them slash emissions is critical to the success of reaching the New South Wales Government’s targets of 70 per cent emissions reduction by 2035 and net zero by 2050.”
Under the Commonwealth’s proposed changes to the safeguard mechanism, most of these companies will be obliged to reduce their emissions by 4.9 per cent every year to 2030.
The outcomes of these studies will not only help the companies meet their safeguard obligations at minimum cost, but also allow them to go even further to reduce emissions.
The combined $855,000 in funding is provided under the Transformative Industry Projects stream of the Net Zero Industry and Innovation Program. Grants will be at least matched by contributions from each of the four companies, and companies can then apply for further support to adopt new technologies.
