On 8 September 2022 the Climate Change Bill 2022 passed both houses in federal parliament.
The Bill has legislated a carbon emissions reduction by 43% below 2005 levels by 2030, and net zero by 2050. It also gives power to the climate change authority to track progress against climate change targets and advise future targets, including for 2035 in accordance with the Paris Agreement.
The Bill also requires government agencies such as Australian Renewable Energy Agency (ARENA), Clean Energy Finance Corporation, and Infrastructure Australia to consider set climate change targets in their operations when approving projects.
Further it would be required for the federal minister for climate change to report to Parliament annually regarding the progress with the set climate change targets.
What does this mean for our industry?
By legislating greenhouse gas reduction targets, the federal government is sending a clear message to the gas and related industries. Alternative energy sources such as renewable hydrogen and biogas are important transition fuels in the future for our industry.
Many industry stakeholders have already initiated key projects in anticipation of these targets. Some of the projects include, the establishment of AGA’s hydrogen and renewable energy laboratory in 2018 and the development of the hydrogen appliance specification from Standards Australia, to be published next year. In addition, several gas pipeline and distribution network businesses have adopted net zero emission targets and are already running hydrogen injection trials across Australia.
Working together will fast track the transition to renewable fuel sources for our industry to meet our national greenhouse gas targets collectively.
Please go to Click Here for more information about the Bill.