CEMENT INDUSTRY FEDERATION WELCOMES THE $5B NET ZERO FUND DESIGN FOR INDUSTRY DECARBONISATION
Cement Industry Federation
The Cement Industry Federation welcomes the Albanese Government’s announcement of the $5 billion Net Zero Fund as an important step to support the decarbonisation of Australia’s emissions intensive cement manufacturing facilities.
Australia’s cement manufacturing sector is critical to our economic prosperity and growth and recognised as emissions intensive, trade-exposed and hard-to-abate. The Government’s target of net zero emissions by 2050 is shared by industry, but it will require targeted and sustained policy and investment support to remain internationally competitive and achieve that goal.
The Net Zero Fund announced today, linked to the Industry Sector Plan, is well placed to provide that support for hard-to-abate sectors like cement, where finance must be paired with complementary measures such as enhanced R&D support, clear regulatory signals, and mechanisms that protect against carbon leakage.
The concessional terms of this Fund can help bridge the financing gap for early-stage technologies and infrastructure upgrades.
Decarbonising the cement sector is a complex, multi-decade endeavour that will require sustained investment, innovation and collaboration across government, industry and research institutions.
The Net Zero Fund will be an important part of that transition.
Statement can be attributed to Denise Spinks CEO Cement Industry Federation
About us:
The Cement Industry Federation (CIF) is the national body representing all Australian integrated cement manufacturers – Adbri, Boral Cement and Cement Australia. Australian cement manufacturing supports over 1,300 employees directly in high paid positions as well as hundreds of apprentices, contractors and transport operators. The cement, lime and concrete value chain supports over 15,000 jobs in Australia.
Contact details:
Denise Spinks: 0419661313