The Australian and US governments have signed a Net Zero Technology Acceleration Partnership as part of efforts to accelerate the development as well as deployment of zero-emissions technology.
The partnership, which was signed on the same day as a memorandum of understanding (MoU) between the Commonwealth Scientific, Research, and Industry Organisation and the United States National Renewable Energy Laboratory at the Sydney Energy Forum, is also expected to enable the two countries to cooperate on critical minerals supply chains to reduce greenhouse gas emissions while supercharging economic growth.
Federal Minister for Climate Change and Energy Chris Bowen who made the announcement on Tuesday, said that the partnership was the first step in delivering on the government’s commitment to making climate change a centrepiece of the US alliance, and reinforces the shared commitment to urgent action to deliver on ambitious 2030 targets and reach net zero by 2050.
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Bowen explained that reducing emissions while growing our economies and jobs is a challenge and opportunity that requires a global effort, adding that the current threats to global energy markets and energy security make international cooperation even more important.
He maintained that the partnership will build on long-standing cooperation between the two countries, which share many of the same challenges in decarbonising their respective economies.
“Cooperation will be practical, and inclusive of industry, research and the private sector to drive investment, trade and development of commercial opportunities between the countries in low and zero emissions technologies and the critical materials that will drive them,” the minister stated.
He further noted that Initial areas for cooperation under the partnership include the development of long-duration energy storage technology, digital electricity grids and technology to support the integration of variable renewable energy, hydrogen and carbon dioxide removal, including direct air capture.
The partnership also recognised the crucial role more diversified sources of critical minerals will play in the energy transition, extending cooperation to building supply chains integral to the deployment of clean energy technologies.
In her response, US Secretary of Energy Jennifer M. Granholm said that the Australia-US Net Zero Technology Acceleration Partnership reflects“our nation’s joint commitment to grow our energy capacity and obtain the full advantages of affordable, diverse and secure clean energy.”
“With today’s partnership, our two countries will work together to unlock critical advances in long-duration storage, grid integration, clean hydrogen, direct air capture, and critical minerals and materials, providing an essential opportunity to export the innovations that will accelerate the global clean energy transition,” she said.
Story was adapted from ENERGY.GOV.
