Lucy Wicks (Robertson, Liberal Party) Share this | Hansard source

I move:

That this House:

(1) acknowledges that Australia's Technology Investment Roadmap:

(a) is a comprehensive plan to invest in the technologies we need to bring emissions down, here and around the world;

(b) will accelerate technologies like hydrogen, carbon capture and storage, soil carbon measurement, low-carbon materials like steel and aluminium and long duration energy storage; and

(c) will support 130,000 new jobs by 2030 and maintain Australia's position as a world leading exporter of food, fibre, minerals and energy; and

(2) welcomes the Government's focus on technology, not taxes, to secure affordable, reliable energy while at the same time reducing emissions.

I am very pleased to speak in support of Australia's Technology Investment Roadmap. It's a comprehensive plan to invest in the technologies that we need to bring down emissions, create jobs and produce affordable and reliable power. This plan will accelerate the development and export of technologies like hydrogen and carbon capture and storage. Australia's Technology Investment Roadmap is expected to guide $20 billion of government investment over the next 10 years and at least $80 billion of total new investment in low-emissions technology in Australia by 2030.

Our plan will support 160,000 jobs by 2030 and avoid approximately 250 million tonnes of emissions by 2040. The road map is part of the Morrison government's plan to reduce emissions through developing new technologies rather than by imposing new taxes on hardworking Australian families and businesses. Our plan will secure Australia's energy future by guaranteeing the delivery of affordable, reliable power whilst ensuring that Australia maintains its position as a world-leading exporter of food, fibre, minerals and energy. At the heart of the road map is a vision that Australia will become a globally recognised leader in low-emissions technology through public and private sector investment in the development and commercialisation of new and emerging technologies.

This framework sets out five priority technologies that Australia has competitive advantage in producing, including hydrogen, carbon capture and storage, soil carbon measurement, low-carbon materials production and low-duration energy storage. For each of these technologies the road map sets out measurable goals, such as aiming to produce hydrogen for under $2 per kilogram and carbon capture and storage at under $20 per tonne of carbon dioxide. This will allow the Commonwealth and the private sector to track Australia's progress in developing economically viable low-emissions technologies. Progress will also be reported annually in the low-emissions technology statement tabled in the parliament.

As the Prime Minister has said, we're not going to tax our way into the new energy economy. Instead, we're going to make smart investments that will power Australia into the future. At the same time, the road map will create thousands of new jobs and help protect and support existing jobs, especially in the manufacturing industry, allowing them to prosper in the years to come.

The coalition government believes that Australia has the capacity to create the energy technologies of tomorrow, and we recognise that there are already many great local businesses and researchers who are leading the way. They're great businesses like Star Scientific, a fantastic business located in Berkeley Vale, in my region on the Central Coast of New South Wales. Star Scientific is a hydrogen research and development company dedicated to creating safe, reliable, affordable energy with zero emissions. The company's key project is a breakthrough technology that enables the conversion of hydrogen into heat without combustion. It's called the Hydrogen Energy Release Optimiser, or HERO, which has been patented globally. It addresses the unique challenge of deploying hydrogen for larger-scale industrial purposes.

Just last month I had the pleasure of visiting Star Scientific, alongside the Prime Minister and the Minister for Energy and Emissions Reduction, to announce an investment of $539 million in new, clean hydrogen carbon capture, use and storage projects. It was wonderful to be able to meet, among the many staff we met at Star Scientific that day, two local people, one from the Central Coast and one based in Newcastle, whose names are on that patent. This package that was announced at that visit—$539 million in new, clean hydrogen carbon capture, use and storage projects—includes over $270 million to accelerate the development of four additional clean hydrogen hubs in regional Australia, bringing together hydrogen technology developers, producers and suppliers to collaborate and innovate. Andrew Horvath, the group chairman of Star Scientific, said:

… I really back the Prime Minister and the Minister when they say this is technology driven. Hydrogen is now, hydrogen will be the future fuel. It's inexhaustible, it will dramatically drop in price and it will become the base fuel of the planet.

I'm proud to be part of a government that is working in partnership with the private sector to develop these new technologies, and it's great to see that local businesses on the Central Coast are a great example of an emerging industry right at the forefront.

The Technology Investment Roadmap also sets out our technology-first approach to meet and beat our emissions reduction targets. The Morrison government has a proud record in this area, including by beating our 2020 Kyoto targets, and we're on track to meet and beat our 2030 targets. Between 2005 and 2018 we reduced emissions faster than many similar export oriented economies, including Canada, New Zealand, Japan and the United States. The latest data has Australia's total emissions at 19 per cent below 2005 levels. This road map will only accelerate the Morrison government's efforts to reduce emissions, while fostering innovation and economic growth. I commend the Technology Investment Roadmap and this motion to the chamber.

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