The Queensland Government has opened expressions of interest for its low emissions investment partnerships (LEIP) program.
The LEIP program aims to:
- fast-track emissions reductions
- increase resource optimisation
- maximise the beneficial use of gas resources
- maximise economic opportunities and workforce development in regional Queensland
- develop low emissions knowledge within the sector and diffuse low emissions technology in Queensland.
In the 2023–24 State Budget, the Queensland Government allocated $520 million to the LEIP program to bring forward investment in projects that drive down emissions in Queensland’s highest-emitting facilities.
The program will prioritise reducing emissions from Queensland’s metallurgical coal industry, and will preference projects that exceed the Federal Government’s Safeguard Mechanism requirements and can be delivered by 2030.
“Queensland’s mining industry has always been on the cutting edge of technology and though this program we will be able to help coal mines cut emissions through innovative ways,” Queensland Resources and Critical Minerals Minister Scott Stewart said.
“It’s through our progressive coal royalties that we can invest back into the industry and the communities they operate in.”
The LEIP program will also increase investments in alternative fuels and capturing fugitive emissions from coal mines for power generation.
“We are driving Queensland’s transition to a high-performing, low carbon economy,” Queensland Treasurer Cameron Dick said. “This is an investment that will ensure we stay on track for our emissions reduction target of 75 (per cent) by (2035).
“Queensland’s metallurgical coal is the best quality in the world, and for decades to come, it will have a critical role in producing the steel we need, in everything from wind turbines to electric cars.
“By investing in infrastructure and technology now, Queensland’s coal industry can stay competitive, keep creating new jobs, and keep our regions strong.”