The Emissions Reduction Fund (ERF) will now credit eligible projects that capture and permanently store carbon underground.
The Australian Government introduced the new carbon capture and storage (CCS) method following public consultation.
The CCS method will incentivise emissions reductions from hard to abate sectors. It builds on the government’s other investments to support commercial-scale CCS deployment.
CCS is identified as a priority low emissions technology in the government’s first Low Emissions Technology Statement.
Find out more about the method.