Australian industry releases carbon roadmap for net zero future

Canberra, May 15 (IANS) Australia's oil and gas industry has released a roadmap for a net zero emissions future, an official report revealed on Monday.

The Australian Petroleum Production and Exploration Association (APPEA) published the report that proposed creating nine Net Zero Zones across Australia to bring gas, renewable energy and hydrogen production together with manufacturing, refineries and new industries, reports Xinhua news agency.

Under the plan, the zones would be established with shared infrastructure for gas, renewables, carbon capture utilization and storage (CCUS) and hydrogen production, aiming to boost the net zero economy transformation.

According to the APPEA, the zones could cover 79 per cent of Australia's 215 heaviest-polluting facilities that are required to cut their emissions through to 2030 under the government's safeguard mechanism scheme.

Samantha McCulloch, chief executive of APPEA, said the zones would help accelerate Australia's push to net zero.

"In a way, it's like carpooling carbon emissions by working together to help achieve net zero in the fastest and most cost-efficient way for the economy," she said in a statement.

She said the zones could become magnets for regional investment and provide a framework for different industries to work together to speed up the path to net zero, reduce costs and create and protect jobs in manufacturing, mineral processing and industry.

Earlier in May, the Australian government announced it would establish a new national net zero authority to oversee the transition and ensure that no workers or communities are left behind.

Australia has committed to reducing 43 per cent of its greenhouse gas emissions below 2005 levels by 2030 and achieving the net zero target by 2050.