The 2023–24 Queensland Budget announced the $520 million Low Emissions Investment Partnerships (LEIP) program to fast track emissions reductions to support Queensland’s targets of:
- a 30% emissions reduction on 2005 levels by 2030, and
- net zero by 2050.
The program will accelerate least cost emissions reductions and capitalise on collaborative opportunities, with partnerships through bilateral agreements and co-investment in established emission reduction strategies.
The focus will be on reducing the emissions from the state’s largest emitting facilities, with an initial concentration on the metallurgical coal industry. We’re investing in Queensland’s future as a high performing, low carbon economy and the metallurgical coal industry will have a critical role in producing the steel we need to decarbonise our state.
The projects invested in should have economic benefits for regions and workers and will develop and diffuse low emissions knowledge and technology in the sector.
Industry briefings are planned for the third quarter of 2023.