{"id":28528,"date":"2022-04-13T09:20:42","date_gmt":"2022-04-12T23:20:42","guid":{"rendered":"https:\/\/www.machines4u.com.au\/mag\/?p=28528"},"modified":"2022-04-13T09:23:34","modified_gmt":"2022-04-12T23:23:34","slug":"net-zero-target","status":"publish","type":"post","link":"https:\/\/www.machines4u.com.au\/mag\/net-zero-target\/","title":{"rendered":"Government Invests in Manufacturing & Transport Sectors to Reach Net Zero Target"},"content":{"rendered":"\n

Climate action has long been an issue across the globe with many leaders non-committal to a target for lowering emissions in the past. However, as of June 2021 this changed with 31 countries and the European Union setting targets to reach net zero by 2050.<\/span><\/p>\n

As the globe starts to prioritise climate action, Australia is set to follow suit with a <\/span>long-term emissions reduction plan<\/span><\/a> announced in October 2021. This plan includes strategies that will impact a range of industries including the manufacturing and transport sectors.<\/span><\/p>\n

But first, what exactly is net zero?<\/span><\/p>\n

What is \u201cNet Zero\u201d?<\/span><\/h2>\n

\u201cNet Zero\u201d refers to achieving an overall balance of greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere. Ideally, we want to balance the scale so that we aren\u2019t adding more to the atmosphere than we are taking out.<\/span><\/p>\n

In order to achieve net zero emissions the world is moving towards renewable energy, like solar and electrification, and reducing the use of fossil fuels (coal, oil and gas). As Australian industries rely heavily on fossil fuels, the government has devised a plan to preserve jobs while generating new opportunities to deliver net zero by 2050.<\/span><\/p>\n

Government Investment in Manufacturing & Transport Sector<\/span><\/h2>\n

As part of Australia\u2019s Long-Term Emissions Reduction Plan there are two main strategies impacting the capital equipment industry.<\/span><\/p>\n

Modern Manufacturing Strategy<\/span><\/h3>\n

The Modern Manufacturing Strategy is an investment of $2 billion to scale-up the Australian manufacturing industry to create jobs now and in the future. This investment is broken down into three main initiatives including:<\/span><\/p>\n