The Rudd Labor Government today delivered funding of $75 million for the Climate Ready competitive grants program as part of the Clean Business Australia election commitment.
Climate Ready will encourage Australian businesses to develop and commercialise products, processes and services that save energy and water, reduce pollution and use waste products in innovative ways.
A huge global market is developing in clean, green technology. Australian industry has the creativity and drive to deliver to world markets in this area.
This initiative demonstrates Labor’s commitment to working in partnership with Australian industry to meet future challenges through innovation.
Innovation supported by the Climate Ready program could include new technologies for water recycling, waste recovery or small-scale renewable energy; the development of green building materials to make homes more energy-efficient and more comfortable; and innovations to reduce the energy used by appliances, cutting emissions and household power bills.
Grants will be provided on a dollar-for-dollar basis, matching company spending on research and development, proof-of-concept and pre-commercialisation activities to develop solutions to climate change challenges. Funding will commence for the program in July 2008.
Final details of the program will be developed in consultation with stakeholders.
Climate Ready is part of the Clean Business Australia initiative – a $240 million partnership between Government and industry to deliver energy- and-water-efficient projects with a focus on productivity and innovation. Other programs under Clean Business Australia are the:
- Green Building Fund; and
- Re-tooling for Climate Change.
More information on this program can be found at www.ausindustry.gov.au
Media contact: Catriona Jackson, Minister's Office, 0417 142 238