Australia Announces $100 Million Initiative to Protect Our Oceans
May 2, 2021
Australia last week committed $100 million to ocean conservation in an effort to protect ‘blue carbon’ environments and reduce emissions.
Uniquely suited to care about marine life, as the world’s only island continent, the investment package will also support Australian Marine Parks, expand the Indigenous Protected Areas in the Sea Country and protection of marine species.
Much of the funding will go towards ecosystems that involve seagrass and mangroves, which play a key role in drawing carbon out of the atmosphere.
Prime Minister Scott Morrison said Australia’s oceans would be key to the country’s role in driving down emissions.
CO2CRC
CO2CRC is pleased to welcome Eni S.p.A as its newest member company.
“We are delighted to have Eni S.p.A join CO2CRC as our newest Member. Eni is quickly becoming an industry leader in development and application of carbon capture, utilisation and storage (CCUS) technologies which play a crucial role in the decarbonisation strategy of the company” said David Byers, CEO of CO2CRC.
“Over the past decade, CO2CRC’s carbon capture, utilisation and storage (CCUS) research program has proved to be an outstanding example of successful collaboration between federal and state governments, Australian and international industry and local and global research institutions.
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But what will his government actually deliver?
Morrison’s speech was notable for its stark lack of ambition and a defensive tone at odds with the urgent, front-footed approach of other world leaders. He resisted the peer pressure to enter the global fold on climate action by setting clear goals, saying Australia made only “bankable” emissions-reduction commitments.
Morrison instead pointed to Australia’s “transformative technology targets”. As we will explain below, those targets are small, vague and certainly not “bankable”. And the spending commitments pale in comparison to the past and future cost of extreme weather in Australia.
Expectations of Australia heading into the summit were low – a fact perhaps reflected in the summit’s agenda. Morrison’s address was way down in the running order – he was 21st of 27 speakers. Biden was reportedly not in the room when Morrison spoke. And in an unfortunate glitch, Morrison’s microphone was on mute at the start
Will Steffen
But what will his government actually deliver?
Morrison’s speech was notable for its stark lack of ambition and a defensive tone at odds with the urgent, front-footed approach of other world leaders. He resisted the peer pressure to enter the global fold on climate action by setting clear goals, saying Australia made only “bankable” emissions-reduction commitments.
Morrison instead pointed to Australia’s “transformative technology targets”. As we will explain below, those targets are small, vague and certainly not “bankable”. And the spending commitments pale in comparison to the past and future cost of extreme weather in Australia.