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In a bill introduced into parliament yesterday Ferguson wants to see carbon capture and storage underground in Australia’s offshore waters.
“The Australian Government is committed to comprehensive action to tackle climate change, while maintaining Australian jobs and economic prosperity,” Ferguson said.
“But with around 80 percent of Australia’s electricity generated from coal, no serious response to climate change can ignore the need to clean up coal.”
Ferguson said carbon capture and storage was essential for the long-term sustainability of coal-fired power generation.
“As the world’s largest coal exporting nation it is in our economic interest to accelerate the development of technologies which extend the viability of coal-fired electricity generation,” he said.
Ferguson said geological surveys indicated storage in offshore waters had the potential to store hundreds of millions of tonnes of carbon dioxide for thousands of years.
The legislation has been referred to the House of Representatives Primary Industries and Resources committee for inquiry.
