Bioenergy Australia welcomes Federal government's commitment to the future of Australia's bioeconomy
Published Wed 13 Nov 2019
MEDIA RELEASE
Wednesday 13 November
Bioenergy Australia welcomes Federal government’s commitment to the future of Australia’s bioeconomy
Bioenergy Australia has welcomed the announcement made today by Minister for Energy Angus Taylor regarding the commitment to developing a roadmap for Australia's bioenergy future.
Bioenergy Australia chief executive Shahana McKenzie said they were delighted with the support given that Australia currently lags behind other nations in the development of our bioeconomy.
“As with any emerging sector, government support plays an important role in removing barriers and accelerating the development of new projects,” Ms McKenzie said.
“Australia currently lags behind other nations in the development of our bioeconomy and this will be seen as a turning point for the industry.
“In the lead up to the last Federal election we called for this roadmap and we are thrilled the Minister can see the benefit of this new industry and is dedicating resources to map out our future.”
The announcement comes at the commencement of Australia’s annual Bioenergy STRONG conference in Brisbane, which will explore innovative approaches that Australia can adopt and expand on to convert agricultural, municipal, industrial and non-recyclable waste into valuable products such as electricity, liquid transport fuels for land, sea and air, renewable gas, renewable heat and high value products such as bio plastics and chemicals.
“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. Australia does not want to miss the opportunity for building regional resilience and jobs while also decarbonising sectors such as transport, industrial and agriculture,” Ms McKenzie said.
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.
In late 2018, Bioenergy Australia released the Bioenergy State of the Nation report, in collaboration with KPMG. 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.
As an example, Biogas is currently the cheapest option for decarbonisation of energy currently provided by gas networks. Current policies such as the Renewable Energy Target (RET) favour the use of biogas for electricity generation rather than injection into the gas network, however enough biogas potential exists to meet all residential and commercial gas demand on the East Coast.
“Australia currently lags well behind other nations in production of biofuels and the receipt of its knock-on benefits,” Ms McKenzie said.
“A local biofuels industry could create over 8000 direct and indirect jobs, contribute over $1.1 billion annually to regional communities, reduce particulate matter in our air by 26% and reduce our reliance on important fuel by 18 per cent.
“The development of a local industry would create jobs, enhance fuel security, support waste reduction strategies and build stronger regional economies. It would also provide significant environmental and health benefits.
“There is a new industry waiting to be developed for bio-chemicals which can replace the need for fossil-fuel based derivatives entirely.
“If we don’t seize this opportunity we will be left behind and end up importing what could be made locally, with significant economic and environmental impacts,” Ms McKenzie said.
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About Bioenergy Australia
Bioenergy Australia is committed to accelerating Australia’s bioeconomy - generating jobs, securing investment, maximising the value of local resources, minimising waste and environmental impact, and developing and promoting national bioenergy expertise into international markets. Australia lags behind the world when it comes to bioenergy. Bioenergy Australia aim to empower, share knowledge, and connect Australian bioenergy producers, investors, researchers, and users to make our bioeconomy world-class.