格拉坦研究所-走向净零排放：减少工业排放的实际政策（英）-2021.8-53页_1mb

Summary of "Towards Net Zero"

Core Content

This report, Towards Net Zero: Practical Policies to Reduce Industrial Emissions, outlines strategies for Australian governments to reduce industrial emissions in the context of the global push for net-zero targets by 2050. It highlights the challenges and opportunities in the industrial sector, which accounted for 31% of Australia's total emissions in 2020, equivalent to 162 million tonnes.

Main Viewpoints

• Australia's Emissions Challenge: Australia is not on track to meet its net-zero goal by 2050. The industrial sector is a major contributor to emissions, with its growth driven largely by the expansion of gas and coal exports.
• Policy Gap: A single, economy-wide carbon price is the most efficient way to reduce emissions, but it is currently politically unfeasible. As a result, the report advocates for a sector-specific, technology-driven approach.
• Net Zero as an Opportunity: Some sub-sectors, such as minerals and metals, may see increased demand as other countries decarbonise. Australia should aim to grow these sectors without increasing emissions.
• Momentum and Coordination: The report stresses the importance of creating momentum for emissions reductions now. It recommends modifying and expanding existing policies to support immediate and long-term changes.

Key Information

• Current Emissions Trends: Industrial emissions have grown from 130 million tonnes in 2005 to 162 million tonnes in 2019. They are projected to remain around this level until 2030.
• Fossil Fuel Extraction: Fossil fuel extraction (coal, oil, gas) accounts for over half of industrial emissions. LNG production is a significant contributor, and emissions are expected to grow due to new facilities coming online.
• Emissions Reduction Options: Immediate actions include using renewable energy, improving combustion efficiency, flaring, and carbon capture and storage (CCS). However, CCS is only viable in certain contexts due to cost and infrastructure requirements.
• Need for Policy Innovation: The report recommends a new Industrial Transformation Future Fund to support long-term investment in low- and zero-emission technologies and infrastructure.
• Role of State Governments: State governments should support catalyst organisations to address coordination problems and infrastructure bottlenecks in specific industrial areas.

Recommendations

1. Large Industrial Facilities

• Amend the Safeguard Mechanism to ensure consistent baseline methods, allow below-baseline crediting (except for electricity), and remove administrative loopholes.
• Establish separate emissions intensity benchmarks for new facilities that are significantly lower than the industry average.
• Allow third-party purchase of below-baseline credits, with government underwriting.
• Align baselines with a trajectory that supports Australia's emissions targets.

2. Small and Medium Industrial Facilities

• Continue aligning state energy efficiency obligations and encourage their use in reducing emissions.
• States without such obligations should develop targeted policies to reduce emissions from small facilities.
• Encourage the use of instant asset write-off to replace older, higher-emission equipment with newer, cleaner alternatives.

3. Long-Term Industrial Transformation

• Establish the Industrial Transformation Future Fund to provide long-term certainty and reduce financial risks for transformational projects.
• Ensure access to finance for low- and zero-emission industrial investments through public-private investment funds.
• Support catalyst organisations in specific industrial areas to identify and solve coordination and infrastructure issues.

Conclusion

The report underscores that without a single carbon price, Australia must rely on sector-specific policies to drive emissions reductions. It argues that immediate action using existing tools and technologies is essential to build momentum and avoid a more disruptive and costly transition in the future. The recommendations aim to create a pathway for Australia to achieve net zero by 2050, ensuring economic efficiency and long-term sustainability.