The Chamber of Minerals and Energy of Western Australia (CME) has today welcomed the WA Government’s announcement of a modest funding boost to WA’s Investment Attraction Fund (IAF) and Sectoral Emissions Reduction Strategies in the push to achieve the 2030 and 2050 emissions targets.
CME Chief Executive Rebecca Tomkinson said the injection of $60 million to the IAF and $74 million to the WA Government’s sectoral emissions reduction strategies were positive steps towards industry, government, the community and businesses working collaboratively on mapping out a net zero future.
However, she said in the lead up to the WA Energy Transition Summit, CME was again calling for action from the WA Government to lay the groundwork and outline a clear plan for this transition.
“I’ve said before that the path to net zero runs through WA. I’d go so far as to say there is no net zero without WA,” Ms Tomkinson said.
“We have the resources, critical minerals and rare earths to meet global demand at scale, but governments must work with industry to ensure the pathways are clear for project development.
“The $60 million IAF New Energies Industries round is a welcome step to encourage investment in projects such as critical mineral and rare earth processing, renewable energy technologies and emissions capture. However, further investment by the WA Government will be required, most critically to provide certainty of access to low emissions, affordable and reliable energy but also in unlocking further project ready land.
“If the WA Government can attract investment in the sorts of projects that will see us meet global demand – and at the same time remove red tape, create a more efficient approvals process and clarify regulatory framework for the industry – WA will be well positioned to leverage the incredible opportunities presented by the energy transition.”
Ms Tomkinson said the addition of $74 million into the WA Government’s sectoral emissions reduction strategies would hopefully support emissions reduction pathways across the WA economy.
“The industry – and the community in general – wants to see the map. They want to know how the WA Government will navigate the energy transition and what we all need to do to achieve 2030 and 2050 net zero targets,” she said.
Media contact: Natasha Mutch
0435 383 382