Industry-led initiative to develop a pathway to reduce emissions in hard-to-abate sectors
Technology will be a key focus of a new initiative that brings together a number of major Australian businesses and industry stakeholders to explore pathways to reducing emissions.
On behalf of the Australian Government, the Australian Renewable Energy Agency (ARENA) provided $300,000 to ClimateWorks Australia to assist in the establishment of the Australian Industry Energy Transitions Initiative (ETI).
The Australian Industry ETI brings together key industry stakeholders from hard-to-abate sectors to explore solutions that can help them reduce their emissions across their supply chains, and increase long term competitiveness through transitioning to clean energy solutions.
Independent not-for-profit ClimateWorks, along with co-convenors Climate-KIC and research partners CSIRO and the Rocky Mountain Institute have undertaken preliminary research and will work with industry participants to develop a practical program to fill research gaps, identify challenges and develop projects for implementation.
The initiative will focus on five supply chains which include iron and steel, aluminium and bauxite, liquefied natural gas, other metals (such as lithium, copper and nickel) and chemicals including plastics, fertilisers and explosives. These sectors together represent more than a quarter of Australia’s annual greenhouse gas emissions and approximately $160 billion in exports annually.
Participating industrial companies in the two year initiative include BHP, Woodside, BlueScope Steel, BP Australia, Orica, APA Group, and Australian Gas Infrastructure Group (AGIG). Together, these participants account for 13.6 per cent of Australian industrial emissions. They are joined by National Australia Bank, Schneider Electric, Australian Super and Wesfarmers Chemical, Energy & Fertilisers, with more expected to join in the coming months.
Alongside ARENA’s funding, the initiative is supported by philanthropic donations and company contributions. It is also supported by the Australian Industry Group and the Australian Industry Greenhouse Network.
The initiative aims to set Australian industry up for a successful transition to a decarbonised global economy, by harnessing industry knowledge to accelerate emissions reductions across whole supply chains – in sectors where abatement has traditionally faced structural challenges.