“A moment of opportunity” to slash industrial emissions

Australia could reduce key industry emissions by 92 per cent by 2050, according to a new report. It won’t be easy, but it will be worth it. Pathways to Industrial Decarbonisation is the third and final report from the Australian Industry ETI A new Australian Industry ETI report says Australia could cut annual greenhouse gas emissions in five key industrial sectors by 92 per cent by 2050, based on 2020 levels. Widely supported by industry partners, the report outlines an ambitious pathway to reducing emissions in line with limiting global warming to 1.5 degrees. The report says a “coordinated action scenario” would need substantial government incentives to complement industry leadership. All told, the investment required could total around $625 billion, or more than $20 billion annually for 30 years. But the rewards could be huge: a competitive advantage for Australian green industries; new export sectors; sustained market share in existing markets; up to 1.35 million jobs; all with far less land-based sequestration than would be required under alternative scenarios. The findings are published in the third and final phase of research from the Australian Industry Energy Transitions Initiative (Australian Industry ETI), Pathways to Industrial Decarbonisation . “This is a […]

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