Australia's prime minister has proposed spending an extra 539 million Australian dollars ($417 million) on hydrogen and carbon sequestration projects, seeking to burnish his government's green credentials ahead of a climate summit to be hosted by US President Joe Biden.
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Prime Minister Scott Morrison said the money to be spent on building new hydrogen-producing hubs and carbon capture technologies would create more than 2,500 jobs while reducing Australia's greenhouse gas emissions.
The funding will be detailed in the government's economic blueprint for the next fiscal year which will be made public on May 11. The spending requires Parliament's approval.
Australia is already one of the world's largest exporters of liquefied natural gas and coal, both polluting fossil fuels. The government wants Australia to become a major global hydrogen supplier by 2030, aiming to reduce production costs to less than AU$2 ($1.54) a kilogram (2.2 pounds).
