NSW is set to become a world leader in low emission industries thanks to an unparalleled $750 million NSW Government program.
Energy Minister Matt Kean said the Net Zero Industry and Innovation Program is about coinvesting with industry to reduce our carbon emissions and develop low emissions technologies for the future.
"NSW was one of the first jurisdictions in the world to set a net zero objective, but we must get there in a way that grows the economy, makes our businesses and industry more competitive and puts us ahead of the pack in the low carbon global economy," Mr Kean said.
"This $750 million program will support the development of new clean technologies, create world-leading centres of research and development and help existing industries future-proof their operations."
Funding will focus on three key areas:
- $380 million to support existing industries to re-tool with low emissions alternatives and future proof their businesses;
- $175 million to set up low carbon industries such as green hydrogen to create the jobs of the future; and,
- $195 million to research and develop new clean technologies so we decarbonise in ways that grow the economy.
"Almost 30 per cent of our State's carbon emissions are created by our top 55 industrial facilities, which are critical contributors to the NSW economy," Mr Kean said.
"Supporting their move to cleaner equipment, technology and processes will significantly reduce emissions, while helping to protect jobs and maintain a resilient economy.
"Our landmark Electricity Infrastructure Roadmap will give NSW some of the cheapest, cleanest most reliable energy in the world.
"This program will build on that to help create the jobs of the future and drive a clean industrial revolution."
The program is a cornerstone element of the NSW Government's Net Zero Plan Stage 1: 2020-2030 and leverages existing NSW Government initiatives including Renewable Energy Zones, and Special Activation Precincts. Expressions of interest for the program will open in April, with businesses and industry encouraged to jump online and register.
