New Federal net-zero plan spotlights resources sector

25 June, 2024

The Australian Government is crafting a new strategy to achieve its net-zero goals, emphasising collaboration with the resources sector.

The Department of Climate Change, Energy, the Environment, and Water is spearheading this initiative, coordinating efforts across various departments.

The strategy includes six sectoral emissions reduction plans, designed to address the entire economy.

The plan for the resources sector will outline ways to cut emissions while bolstering Australia’s economic growth and aiding trading partners in their net-zero efforts.

This plan will encompass:

– 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, alongside Climate Change and Energy Minister Chris Bowen, is responsible for developing this plan. Consultations will begin throughout 2024 to shape its development.

Australia’s vast reserves of critical minerals, such as lithium and nickel, are essential for developing net-zero technologies. These resources are key to Australia’s decarbonising efforts and technological advancements.

Last month, King presented her vision for Australia’s critical minerals sector at the Australian Financial Review Mining Summit. She highlighted the dual importance of these resources for national security and future prosperity, as well as their role in combating 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.”