Australia and UK sign deal for low emission technology partnership

Ever wondered how we’ll reach our emission reduction targets? A new deal between Australia and the UK aims to help the world to just that.

Australia has signed a landmark emissions reduction technology deal with Britain ahead of the Glasgow climate change summit.

Nuclear energy and clean hydrogen are among six key low emission technologies the two countries hope to advance.

It is the fourth international research and development partnership Australia has struck, with Energy Minister Angus Taylor signing the letter of intent on Thursday night.

But the clock is ticking on whether Australia will go to the COP26 summit — which is less than 100 days away — with a concrete commitment to achieve net zero emissions by 2050.

Scott Morrison has repeatedly vowed Australia will reach the target, preferably by 2050, through technology and not taxes.

It comes as Australia’s energy market operator will on Friday release its projections for five separate scenarios charting the nation’s potential emissions reduction path.

Under its forecast to reach net zero by 2050, heating would be electrified for half of the households currently relying on gas by the middle of the next decade, and about 10 million electric vehicles would be on the road by 2040.

Australia is facing pressure to sign up to a net zero emissions by 2050 target. (Photo by Ina FASSBENDER / AFP)

The falling cost of renewable and energy storage technologies would force the progressive retirement of coal-fired power stations from 2030, while there would be a heavy reliance on electrifying industrial processes.

Australia has already signed energy technology deals with Germany, Japan and Singapore.

Under the agreements, countries work together to advance technologies including green steel, soil carbon measurement, small modular reactors, carbon capture and use, as well as scalable and commercially viable storage.

Mr Taylor said this was aligned with Australia’s technology-led approach.

“Australia is continuing to drive practical, international partnerships to get new energy technologies to commercial parity with existing approaches,” Mr Taylor said.

“Getting new energy technologies to parity will enable substantial reductions in global emissions – in both developing and developed countries – and ensure countries don’t have to choose between growth and decarbonisation.”

The Prime Minister is yet to receive support for the 2050 target from his Coalition colleagues in the Nationals, who want to see a plan including how much it will cost.

A plan would have to be put to the minor party by September, if they are to consider a position before the November summit, where Australia is expected to face heightened international pressure to set more ambitious emission reduction targets.

On Friday, Mr Taylor will also announce five companies will share in $25m to deliver more than 400 fast-charging stations for electric vehicles across the country.

More than 100 of the new stations will be located across Victoria.