Submission

LETA Submission: The Net Zero Fund Consultation

LETA lodged a submission to the Government’s consultation on the design and delivery of the Net Zero Fund.

The establishment of the Net Zero Fund is an important step towards ensuring that Australia can meet its emissions reduction targets while continuing to sustain the industries and communities that rely on trade-exposed heavy industry.

LETA makes two key recommendations on the design and implementation
of the Fund:

1. LETA recommends that the Fund explicitly support carbon capture, utilisation and storage (CCUS), ventilation air methane (VAM) abatement, and low-carbon hydrogen with CCS – technologies recognised globally as essential to reducing emissions from hard-to-abate sectors. Without them, industries will face an untenable choice
between closure or offshoring.

2. In addition, LETA urges the creation of a dedicated stream for scope 3 emissions reduction. These downstream emissions are generated when Australian exports are used overseas. Addressing them requires co-investment with customer nations, strengthening both emissions outcomes and trade partnerships.