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On 11 May 2021 the Treasurer of the Commonwealth, the Honourable Josh Frydenberg, handed down the 2021/2022 Federal Budget. Pursuant to the Paris Agreement, the Government has committed to reducing 2005 emission levels by 26 to 28 percent by the year 2030. In order to fulfil that commitment, the Government is investing $1.6 billion in clean energy technologies.
A $1.2 billion Co-investment Facility is to be established to invest in project-based international partnerships and priority technologies. This includes $539.2 million for hydrogen and carbon capture, use, and storage projects (CCS/CCUS), broken down as follows:
The remaining $565.8 million has been allocated to establish international partnerships on practical low emission projects.
The Government has also committed an additional $316.7 million to help industry and business reduce their emissions through voluntary action and adopting low emissions technology.
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Who makes decisions about the development of Australia’s offshore oil & gas resources, and who pays to decommission end-of-life assets, have been high on the news agenda since the owner of the...
We have advised on the establishment of Gurīn Energy, a new Asian renewable energy development platform backed by Infratil Limited.
The Senate referred an inquiry into Australia’s oil and gas reserves to the Senate Economics References Committee on 19 September 2019. The reporting date for the inquiry has been extended to 2...