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New Federal net-zero plan spotlights resources sector

net-zero

The Australian Government is developing a new strategy to reach net-zero goals with a focus on working with the resources sector to make the push.

The Department of Climate Change, Energy, the Environment and Water is leading coordination with relevant departments.

Six sectoral emissions reduction plans will support the net-zero plan to capture the full breadth of the economy.

The resources sector plan will identify opportunities to reduce emissions and support Australia’s economic growth and support of trading partners on their own net-zero journey.

The plan will cover:

  • oil and gas extraction and processing
  • liquefied natural gas (LNG) liquefaction
  • coal mining
  • mining of metals and non-metal minerals
  • on-site processing of ores
  • resource exploration and support services.

Resources and Northern Australia Minister Madeleine King is responsible for developing the plan with Climate Change and Energy Minister Chris Bowen.

Consultations are set to begin throughout 2024 to support the plan’s development.

Australia has large reserves of the critical minerals, such as lithium and nickel, that are needed to develop net-zero technologies.

If net-zero is to be achieved, those resources will be a cornerstone of Australia’s critical decarbonising technology and processes.

Last month, King addressed the Australian Financial Review Mining Summit with a vision for the future of Australia’s critical minerals sector.

King emphasised Australia’s critical mineral resources as being as pivotal to national security as they are to the country’s future prosperity and its efforts to fight climate change.

“We must ensure the mining industry is properly prepared for those challenges ahead,” King said at the summit.

“We need our resources industry to be there to provide for future generations of Australians – just as it has provided for us.

“We must act now or the world will move on without us.”

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