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.
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.
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.
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.