Australian Conservation Foundation Supports Legislation for Renewable Hydrogen and Critical Minerals Tax Breaks
Key Ideas
- ACF CEO welcomes legislation for tax breaks on renewable hydrogen and critical minerals processing, crucial for clean technologies.
- Legislation will ensure public funds are directed only to clean forms of hydrogen, not fossil fuel intensive processes.
- Greens' amendments prevent public funds from supporting uranium mining, advocating for clean energy future and policy certainty for investors.
- Targeted tax incentives are seen as a sensible government investment to jumpstart industries and contribute to climate solutions.
The Australian Conservation Foundation CEO Kelly O'Shanassy has expressed support for the passage of legislation in the Senate that provides tax breaks for renewable hydrogen and critical minerals processing. She highlighted the importance of these incentives in advancing clean technologies like solar panels and electric vehicles, which are vital for the global clean economy. The legislation aims to ensure that public funds are channeled towards clean hydrogen production using renewable sources, avoiding processes that contribute to climate change. The inclusion of amendments by the Greens to prevent public funds from supporting uranium mining aligns with efforts to prioritize clean energy and safeguard against environmental risks. O'Shanassy emphasized the role of targeted tax incentives in stimulating industry growth and providing policy certainty for investors, drawing examples of successful implementations in other countries. The CEO also underscored the need for Australia to shift focus from fossil fuel exports to clean energy exports to combat climate change effectively. Criticism was directed towards current government subsidies for coal and gas, with a call to reallocate resources towards clean energy initiatives. The advocacy for a transition to clean energy exports as a strategy to mitigate climate damage and support sustainable communities was strongly emphasized. The call for targeted tax incentives as a supportive intervention for the long-term competitiveness of clean energy exports was backed by research commissioned by the ACF.
Topics
Oceania
Renewable Energy
Climate Action
Clean Technology
Industry Growth
Government Incentives
Policy Certainty
Fossil Fuel Subsidies
Clean Energy Exports
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