OPINION: The Australian company leading the world on decarbonisation of heavy industries such as cement and steel says the government must provide more support for carbon capture and storage if it wants to hit 2030 emission targets.
cancelled $250 million of federal grants for carbon capture
US President Joe Biden boosted the financial incentives available for those capturing and storing carbon last year. “If you think about the [4.9 per cent] year-on-year reduction that the Labor government is proposing here, fuel substitution is not going to get them to the level of emissions reduction they need to get to by 2030 under that system.”
Mr Hodgson said the sort of carbon capture units Calix was developing in Europe would likely be viable within that $75 price cap, but the major source of uncertainty in Australia was the lack of infrastructure for transporting and storing the carbon that is captured.Nations such as the US have had established pipelines for transporting industrial carbon dioxide for decades, but no such infrastructure exists in Australia.
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