Australia’s ambitious renewable energy drive gains momentum with global support
Active involvement in COP28 reinforces Australia’s determination to lead the charge towards a greener, more sustainable future, harnessing its resources and expertise in clean energy technologies to make substantial contributions on the global stage.
The Albanese Government has joined more than 100 nations, aligning with major energy exporters like the United States, Canada, and Norway, in a unified push toward renewable energy and heightened energy efficiency.
Recognizing renewables as the cleanest and most cost-effective energy source, the government is intensifying its commitment to support the UAE’s initiative to triple global renewable energy generation and double energy efficiency improvements by 2030.
Australia has also signed onto The Statement on International Public Support for the Clean Energy Transition, more commonly referred to as the ‘Glasgow Statement’ or ‘CETP’, which was launched by the United Kingdom at COP26 in 2021.
Emphasizing the economic and environmental benefits, Australia’s government aims to bolster its renewable energy sector through an expanded Capacity Investment Scheme (CIS). This initiative is geared to facilitate the installation of 32GW of new renewable generation and storage, fostering investor confidence and driving down energy costs for both households and businesses.
Australia’s strides in rooftop solar installations have secured its position as a global leader. With an ambitious target of achieving 82% renewables by 2030, the government is poised to significantly reduce emissions while ensuring a more reliable and affordable energy supply. The nation’s focus on international collaboration underscores its intention to become a pivotal player in supplying clean energy technologies globally, while nurturing a burgeoning domestic industry.
Central to this vision is the landmark $2 billion Hydrogen Headstart program, designed to bolster large-scale hydrogen projects within Australia. This initiative not only solidifies the country’s commitment to renewable energy but also positions it as a frontrunner in fostering cutting-edge energy solutions.
Australia’s active representation at COP28 reinforces its dedication to global climate initiatives. The government’s involvement signifies a willingness to engage, collaborate, and contribute significantly to the collective efforts against climate change.
