Australian Minister for Resources and Northern Australia Madeleine King
Australian CCS stagnates amid political hesitation
Government’s latest budget suggests it remains on the fence about the role of CCS in the energy transition
In its 14 May budget, Australia’s Labor government unveiled a A$32m ($21.23m) commitment to develop rules and international trade arrangements for CCS. At the same time, it earmarked A$566m over the next ten years for Geoscience Australia’s Resourcing Australia’s Prosperity (RAP) programme. RAP’s mission is to map the country’s on- and offshore resources, and the funds will help the body identify offshore “sites for CCS, as well as possible sites for clean hydrogen projects”. While the government almost tripled the CCS funding from last year’s budget, both budgets limited spending to the clarification of rules rather than direct project support. This is a far cry from the previous Coalition
Also in this section
20 November 2024
Recent project approvals have yielded millions of carbon credits linked to the plugging of the US' abandoned wells
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
18 November 2024
Decarbonising sectors such as steel and cement will require a combination of the most effective technologies, innovative digital solutions and pragmatic policies such as transition credits
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
