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Building on the success of the Emissions Reduction Fund

The Morrison Government is building on the success of the Emissions Reductions Fund and laying out the path to further emissions reductions between now and 2030.

We are making it easier for farmers, landholders and indigenous communities to reduce emissions and realise new revenue streams. We are also encouraging industry to invest in transformative projects – without penalising energy-intensive industries.

The Emissions Reduction Fund has already contracted $38.19 million and delivered 2.67 million tonnes of abatement across Victoria.

Technology not taxes will help us deliver emissions reductions. The King Review makes practical recommendations on how the Government can help business adopt new practices that reduce emissions and increase productivity, or invest in new technologies like carbon capture and storage.

The Government is also developing a Technology Investment Roadmap. The Roadmap will bring a strategic approach to future investments in low emissions technologies. We will set clear priorities over the near, medium and long-term.

As we recover from the COVID-19 pandemic, the Government will also prioritise investment in technologies that improve productivity and support a resilient economy.

This will help Australia beat its 2030 Paris target while maintaining a strong economy. We will do this without imposing new costs on consumers, businesses or taxpayers.

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19 May 2020

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