BA congratulates the Labor Party on recognising the opportunities for Australia’s future Bioeconomy
Published Mon 01 Apr 2019
MEDIA RELEASE: 1 March 2019
Bioenergy Australia congratulates the Labor Party on recognising the opportunities for Australia’s future Bioeconomy
Today the Shorten Labor Government have announced their commitment to Australia to make it a renewable energy superpower by ensuring 50 per cent of Australia’s electricity generation comes from renewable energy by 2030, modernising our energy systems, and empowering households and businesses to take advantage of cheap, clean renewable energy and storage.
Today the Shorten Labor Government have announced their commitment to Australia to make it a renewable energy superpower by ensuring 50 per cent of Australia’s electricity generation comes from renewable energy by 2030, modernising our energy systems, and empowering households and businesses to take advantage of cheap, clean renewable energy and storage.
The announcement outlines plans to develop a Bioenergy Strategy to boost the development of this important industry in Australia. “Bioenergy has significant potential in helping Australia meet its emission reduction goals, help reduce waste, improve energy security and boost regional development.” As stated in the Labor Party Climate Action Plan, released today.
Bioenergy Australia congratulates the Shorten Labor Government on taking critical action to ensure jobs and economic development for regional communities. The opportunity for Australia is significant and multi-faceted, offering a multi-billion dollar investment opportunity, mostly in regional economies. As well as tackling energy security, using waste streams and reduction in greenhouse gas emissions.
A recently released market analysis and forecast report by the International Energy Agency predicted modern bioenergy will have the biggest growth in the next five years, driving 40 per cent of global energy consumption growth and with the global aviation sector setting a 50% reduction in emissions by 2050, it is predicted that over 300 million tonnes of Biojet fuel will be required per annum.
Bioenergy Australia released the Bioenergy state of the nation report (produced in collaboration with KPMG) in late 2018. The first report of its kind identified the opportunity for Australia is significant and multi-faceted, offering a $3.5-$5 billion investment opportunity, mostly in regional economies. The report called for the development of a National strategy for Australias future Bioeconomy.
“There is a new industry waiting to be developed in Australia for sustainable fuels, bio-chemicals and plastic replacements which can replace the need for fossil-fuel based derivatives entirely. By seizing this opportunity we can take advantage of producing locally what we would otherwise import, with significant domestic economic and environmental impacts.“
We are delighted with the announcement made today, and look forward to working with the Shorten Labor Government if elected to accelerate Australia’s bio economy” Dr Hewson said.
Bioenergy is generated from the conversion of solid and liquid biomass products for use as electricity, heat, gas, liquid fuels and bio-based products and delivers a range of benefits such as employment and economic development of rural/agricultural communities, energy security, utilisation of waste streams and reduction in greenhouse gas emissions.
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All media enquiries: Catherine Scheen | | catherine@bioenergyaustralia.org.au | 0424 184 469
Available for Interview:
• John Hewson, Chair, Bioenergy Australia
• Shahana McKenzie, CEO, Bioenergy Australia
About Bioenergy Australia
Bioenergy Australia is committed to accelerating Australia’s bioeconomy. Our mission is to foster the bioenergy sector to generate jobs, secure investment, maximise the value of local resources, minimise waste and environmental impact, and develop and promote national bioenergy expertise into international markets.
Australia lags behind the world when it comes to bioenergy, and we aim to change that. We empower, share knowledge, and connect Australian bioenergy producers, investors, researchers, and users to make Australia’s bioeconomy world-class http://www.bioenergyaustralia.org.au
• John Hewson, Chair, Bioenergy Australia
• Shahana McKenzie, CEO, Bioenergy Australia
About Bioenergy Australia
Bioenergy Australia is committed to accelerating Australia’s bioeconomy. Our mission is to foster the bioenergy sector to generate jobs, secure investment, maximise the value of local resources, minimise waste and environmental impact, and develop and promote national bioenergy expertise into international markets.
Australia lags behind the world when it comes to bioenergy, and we aim to change that. We empower, share knowledge, and connect Australian bioenergy producers, investors, researchers, and users to make Australia’s bioeconomy world-class http://www.bioenergyaustralia.org.au