Federal trade minister Dan Tehan has been speaking to ABC radio this morning after China announced in a statement that they intend to “phase down” coal consumption. This is a big deal for us as China is Australia’s largest coal market.
Here is what he had to say in response:
If China is looking to replace its coal imports, they’re going to need new energy alternatives to be able to replace that with.
We want to be part of that picture. That’s why we’re putting money into the research and development of hydrogen.
We’ve made very clear that we will meet our commitment, which is the 26-28% reduction over the 2010 figure. We also think we will be able to get to a level of about 35%.