The Australian black coal industry acknowledges that the production and use of coal is a significant contributor to climate change and the industry has been proactive in developing solutions to reduce emissions from coal.
In 2006 we established the $1 billion COAL21 Fund as part of a world-first whole-of-industry funding approach to support greenhouse gas abatement. The COAL21 Fund will raise $1 billion over 10 years from a voluntary levy on coal production to support the pre-commercial demonstration of low emissions coal technologies, including carbon capture and storage.
More than a quarter of the Fund has now been committed to demonstration projects as well as a national research program managed by Australian National Low Emissions Coal Research (ANLEC) Ltd.
# Note that the figures do not include overhead and administrative expenses
The COAL21 Fund builds on the COAL21 Partnership which was formed in 2003 and included representatives from the coal and electricity industries, unions, federal and state governments and the research community. The main outcome of this partnership was the COAL21 Action Plan, launched in 2004, which provided a blueprint for accelerating the demonstration and deployment of technologies that will reduce greenhouse gas emissions from coal-based electricity generation.
Photo by Robert Billington, courtesy of NSWMC