Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

The government has outlined a range of measures in the operation of the CPRS to allow for incentives to be provided to industry to encourage the transformation of these industries. These include a $500 million National Low Emissions Coal Fund to accelerate the development and deployment of clean coal technologies, a $500 million Renewable Energy Fund to support the development of innovative renewable energy technologies, a $150 million Energy Innovation Fund to support critical clean energy technology research and $100 million per annum for a global carbon capture and storage initiative to actually accelerate the deployment of that technology. This is on top of the Climate Change Action Fund.