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NSW Climate and Energy Action

Net Zero Industry and Innovation Investment Plan

Investing in a low carbon future for NSW industry

The Net Zero Industry and Innovation Investment Plan is our state’s first industrial emissions reduction plan. It demonstrates how we will support and partner with our manufacturing and mining sectors to cut emissions and boost resilience. 

A thriving low carbon economy is critical to help us meet our emissions reduction targets. It also helps industry future proof themselves in the global shift to net zero.  

We are investing $360 million to deliver this plan through high emitting industries and the new low carbon industry foundations focus areas of the Net Zero Industry and Innovation Program. 

Delivering net zero industry and innovation 

This plan shows how we will work collaboratively to develop and grow low emissions industries in NSW by: 

  • reducing emissions by 28 MtCO2e to 2030, which is equivalent to taking 10 million cars off the road for a year. 
  • investing $305 million to support NSW’s highest emitting and hardest to abate manufacturing and mining facilities - this funding is now open
  • investing $55 million to develop low carbon infrastructure and clean manufacturing precincts – this funding will open in 2023 
  • attracting between $2 - $6 of private investment for every NSW Government dollar invested under this plan. 

Investment priorities  

Through our 3 investment priorities, we will work with industry to accelerate decarbonisation opportunities and lay the foundations for a new low carbon economy into the future. 

Net Zero Industry Innovation Investment Plan priorities. Priority 1: Deploy opportunities to reduce industrial emissions. Low cost, low carbon technologies are available now. We will work with industry to implement these opportunities and accelerate NSW's shift to a net zero carbon economy. *200 million. Priority 2: Accelerate strategic abatement opportunities. The most significant abatement opportunities for NSW industry will take time to develop and deploy. We will partner with industry to accelerate the implementation of these strategic emissions reduction opportunities. $105 million. Priority 3: Develop low carbon infrastructure and industrial precincts. Developing low carbon infrastructure and industrial precincts will accelerate the decarbonisation of high emitting industries and their supply chains. By working together, we can lay the foundations for new low carbon industries. $55 million. *Indicative funding for each priority until 2030.

We have also committed an additional $300 million to expand our New low carbon industry foundations focus area and grow clean manufacturing in our state. We will release additional investment priorities for this work in early 2023. 

More information