Investment in technologies reducing GHG in agriculture, manufacturing, industry and transport

The Australian government has launched a $1.9 billion future technology investment package to be provided over twelve years from 2020-2021 to continue funding the Australian Renewable Energy Agency (ARENA), expand investment in the Clean Energy Finance Corporation (CEFC), and invest in low emissions technologies, network infrastructure, power generation and supplies in the National Electricity Market (NEM).  The budget also includes a provision allowing ARENA to use up to $50 million of existing resources to encourage the commercialization of breakthrough clean energy technology through the use of new financial tools. New legislation will be introduced to ensure that both agencies can support new and emerging low-emission technologies (including zero and negative-emission technologies), ensuring that critical technologies like soil carbon sequestration, carbon capture and storage, green steel production, and energy-saving industrial processes can be supported. The package also includes tax incentives for R&D activities to support companies' innovation efforts.

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