PRESS RELEASE
5 May, 2025.
CO2CRC extends its congratulations to the Albanese Government on its historic re-election with an increased majority. This decisive result presents an opportunity for bold, long-term energy and climate policy development.
As the nation’s leading research organisation in carbon capture and storage (CCS), CO2CRC believes the next term of government is an opportunity to build on policy formulation in the Government’s first term to deliver a balanced framework that fully integrates CCUS as a core pillar of Australia’s climate and future gas strategies.
The Albanese Government has prioritised renewables and legislated emissions reduction targets, and its support for CCS in the previous term was targetted at decarbonising hard-to-abate sectors.
That support included funding for ongoing collaboration with CO2CRC’s partners in Japan and Korea to advance CCS research and development.
CO2CRC Chief Executive Dr Matthias Raab said that for Australia is to meet its obligations under the Safeguard Mechanism and realise its ambitious net-zero goals, the role of CCS must be significantly expanded across all relevant emitting sectors.
CO2CRC is committed to working with government and industry to achieve these goals.
Despite hosting the world-leading Moomba and Gorgon CCS projects Australia remains underinvested in the technology, given its critical role in delivering large-scale, near-term emissions reductions. Without further investment, Dr Raab said Australian industry risked falling short of compliance obligations and incurring substantial penalties.
“Australia must maintain its technological edge and credibility in the global decarbonisation effort. CO2CRC, together with our research partners, are at the forefront of enabling this transition,” Dr Raab said.
“We develop technologies to support next-generation projects, reduce operational costs, optimise geological storage, and embed our findings in the techno-economic and regulatory frameworks required under Australian law and central policy mechanisms.
“The scale of Labor’s election victory strengthens the case for CCS to remain central in the national policy conversation. It is a clear mandate to accelerate investment and deepen engagement with the technologies that will make net-zero a reality.”
Dr Raab said CO2CRC was well-positioned to work with the re-elected Government to establish its substantial CCS research and demonstration program that cements Australia’s leadership in emissions reduction innovation. With strategic support, Australia can roll out a new suite of CCUS projects that are economically feasible and scientifically sound.
“We look forward to continuing our collaboration with government and industry to ensure CCS remains a robust, reliable pathway in Australia’s transition to a low-emissions future.”
RELEASE ENDS
Contact: Augustine Italiano +61 435 022 984 or augustine.italiano@crestviewstrategy.com