[Asia Economy Reporter Park Byung-hee] The Australian government announced it will invest 539.2 million Australian dollars (approximately 465.9 billion KRW) to reduce greenhouse gas emissions, Bloomberg reported on the 20th (local time).
The Australian government plans to include 275.5 million Australian dollars in the budget to be released on the 11th of next month for the development of four hydrogen hubs in Australia. Additionally, 263.7 million Australian dollars will be allocated for investment in carbon capture, processing, and storage facilities.
Australia has a high proportion of mining industries, resulting in significant greenhouse gas emissions and increasing pressure from the international community. Ahead of the Climate Summit on the 22nd and 23rd, this move expresses Australia's commitment to reducing greenhouse gas emissions.
Prime Minister Scott Morrison stated in an email release, "The world is changing, and Australia cannot pretend otherwise," adding, "If the world is changing, Australia must also accept the risk of job losses."
Prime Minister Morrison emphasizes that technological innovation is necessary for Australia to reduce greenhouse gas emissions. He also announced a technology investment roadmap in which the government will invest 18 billion Australian dollars over ten years. The current government's investment in greenhouse gas reduction is part of this technology investment roadmap.
On the 19th, during a meeting with business leaders, Morrison expressed his desire to achieve carbon neutrality by 2050 as soon as possible.
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