NSW launches $360 million plan to help industry decarbonise
The NSW Government has announced the $360 million Net Zero Industry and Innovation Investment Plan to support and partner with manufacturing and mining sectors to reduce emissions and boost resilience.
Minister for Energy Matt Kean said the investment will help the highest emitting industries accelerate their shift to net zero, while continuing to grow jobs and the economy. It will also play a critical role supporting the establishment of new low carbon industries.
“Almost 30 per cent of carbon emissions in NSW are created by the top 55 industrial facilities, so partnering with them is critical to achieving our emissions reduction targets,” Mr Kean said.
“This funding will support NSW’s highest emitting and hardest to abate manufacturing and mining facilities to significantly decarbonise and make the industries more resilient as the world shifts to net zero.
“The Net Zero Industry and Innovation Investment Plan aims for a significant reduction of carbon dioxide equivalent by 2030 – equal to taking 10 million cars off the road for a year.
“By accelerating decarbonisation and the development of clean technology, we will expand the economy, support jobs, and significantly reduce emissions, helping NSW businesses prosper in a low carbon world.”
This funding is a cornerstone of the NSW Net Zero Plan to reduce emissions by 50 per cent by 2030 and achieve net zero by 2050.
The investment plan outlines the funding priorities for the next two years under two focus areas – high emitting industries and new low carbon industry foundations.
Read the Investment Plan.