The Federal Government is set to give out $8.5 million in grants in an effort to help curb methane emissions in Australia’s resources sector.
The Resources Methane Abatement Fund comes less than a week after Australia joined forces with the US, Japan, the Republic of Korea and the EU to sign a statement on accelerating methane mitigation from the LNG value chain.
The fund will provide the grants to universities and research institutions to assist in developing project that will cut methane emissions from coal and gas industries.
“The Australian government is committed to lowering emissions and playing a lead role in helping the world to decarbonise and fight climate change,” Federal Resources Minister Madeleine King said.
“Fugitive emissions from coal and gas projects are responsible for around 29 per cent of Australia’s methane emissions.
“The Federal Government is determined to lower emissions from the resources sector, and we will work with industry to decarbonise and curb fugitive methane emissions.”
It is hoped that the technology developed from the grants will help Australia reach net-zero by 2050.
King said the grants also help support Australia’s commitments under the Global Methane Pledge and government reforms to the Safeguard Mechanism.
King said the agreement has the potential to make a real difference in the fight against climate change and the necessity to lower emissions.
