Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

Thank you, Senator Bilyk. The recent G8 meeting in Hokkaido agreed to establish 20 industrial-scale carbon capture and storage demonstration projects around the world by 2010. Last week the government announced that it will invest $100 million a year to establish a host global carbon capture and storage institute. The institute will have a specific mandate to do whatever it can to ensure that there are 20 industrial-scale projects up and running. The Prime Minister is taking this plan for a global carbon capture storage institute to the United Nations this week and is seeking the first meeting for potential participants later this year. Australia can lead the world in climate change, and this government is determined to ensure that it does.