Energy Minister Angus Taylor says cutting emissions an ‘opportunity’ for Victoria

Energy Minister Angus Taylor believes cutting emissions presents “very significant opportunities” for Victoria, especially in the Latrobe Valley.

Plans have been unveiled for wind farms to dot the coastline, a hydrogen export industry and widespread soil carbon storage as Victoria leads Australia’s transition to net zero.

In an interview with the Herald Sun, Energy and Emissions Reduction Minister Angus Taylor said the “evolution, not revolution” in cutting emissions presented “very significant opportunities” for Victoria, especially in the Latrobe Valley.

Liberal and Nationals MPs will hold crucial talks on Tuesday about confirming a 2050 net zero target which Scott Morrison plans to take to next month’s climate summit in Glasgow.

While several Nationals are standing firm, deputy leader David Littleproud said the majority of his colleagues “want to work pragmatically through this”, as the Prime Minister confirmed the final decision would be made by his cabinet.

Mr Morrison confirmed he would not pursue a stronger 2030 emissions reduction target, saying that would “force choices that will cost jobs”.

But he told Liberal MPs the 2050 commitment was important for Australia’s international standing, particularly with allies including the US and the UK.

Angus Taylor at home on his farm near Goulburn. Picture: Jonathan Ng

UK Prime Minister Boris Johnson wants all developed nations to give up coal-fired power by 2030. Asked whether Australia would support this, Mr Taylor said coal-fired power was “not going away, that’s for sure, but we do have to look at ways to reduce emissions”.

He said the Latrobe Valley — where Loy Yang A is expected to run until 2048 — was well suited to aiding the emissions reduction mission with its mix of coal, gas, renewables and carbon storage.

“It does mean change, but it also means opportunity,” Mr Taylor said.

This includes one of the world’s biggest hydrogen projects that is already underway, which will be the first to ship liquid hydrogen overseas.

Mr Taylor said the commonwealth also wanted to fast-track the development of offshore wind farms, including the Star of the South proposal that could supply 20 per cent of Victoria’s electricity. He said he wanted to drive competition to create multiple offshore wind projects.

Victoria’s high average rainfall meant the state also offered “some of the best country” to capture carbon in soil, Mr Taylor said, as he argued traditional industries including agriculture would play a “positive role” in cutting emissions.

Gippsland Nationals MP Darren Chester said there was a “little bit of work to be done” on the net zero plan, and that while “some people may have to agree to disagree”, the Nationals needed a “credible position on climate change”.