Australia Promotes Biofuels Development towards Net-Zero Emission Goal by 2050

Australia Promotes Biofuels Development towards Net-Zero Emission Goal by 2050

BY  
Seneca ESG  
- November 25, 2021

The Australian Renewable Energy Agency (ARENA) rolled out a roadmap of developing bioenergy over the next decade, with an investment of AUS33.5m (USD24.2m) from the Australian government, as reported by Power Engineering International on November 23. Based on the roadmap, the government would guide the private and public sectors to decide policies and invest in the bioenergy industry. ARENA stated that the bioenergy industry could contribute as much as USD7.2bn to Australia’s economy per year, create 26,200 new jobs, cut greenhouse gas (GHG) emissions by 9%, and divert an additional 6% of landfills waste.

The roadmap came after ARENA invested more than USD94.7m over the past eight years into bioelectricity and biogas production, biofuels, efficient feedstock harvesting technology, and projects aiming to generate energy from waste materials. As an alternative to traditional fuels, bioenergy could reduce emissions in hard-to-abate industries including heat generation, aviation and marine fuels, and renewable gas. Nevertheless, the production capacity share of bioenergy is minor in the country. In 2020, bioenergy only accounted for 5% of Australia’s renewable energy output with a 50% consumption proportion. According to ARENA, bioenergy has the potential to provide up to 20% of the country’s total consumption by the 2050s, compared to the current 3%. At the recent COP26 summit, Australian Prime Minister Scott Morrison committed to getting his country to net zero emissions by 2050.

Sources:

https://www.powerengineeringint.com/renewables/biomass/arena-releases-bioenergy-roadmap-for-australia/

https://www.reuters.com/business/sustainable-business/australia-promotes-biofuels-growth-help-fight-climate-change-2021-11-19/

https://www.argusmedia.com/en/news/2275499-australia-eyes-expanded-bioenergy-sector

Commencez à utiliser le toolkit Seneca ESG aujourd'hui

Suivez les performances ESG dans les portefeuilles, créez vos propres cadres ESG et prenez de meilleures décisions commerciales éclairées.

Toolkit

Seneca ESG

Intéressé ? Contactez-nous maintenant

Pour nous contacter, veuillez remplir le formulaire à droite ou nous envoyer directement un email à l'adresse ci-dessous

sales@senecaesg.com

Bureau de Singapour

7 Straits View, Marina One East Tower, #05-01, Singapour 018936

+(65) 6223 8888

Bureau de Barcelone

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

Bureau de Taipei

77 Dunhua South Road, 7F Section 2, Da'an District Taipei City, Taïwan 106414

(+886) 02 2706 2108

Bureau de Lima

Av Jorge Basadre Grohmann 607 San Isidro, Lima, Pérou 15073

(+51) 951 722 377