$750 million Climate Action Fund to drive WA's low-carbon future

$750 million Climate Action Fund to drive WA's low-carbon future
$750 million Climate Action Fund to drive WA's low-carbon future

The McGowan Labor Government is creating a $750 million Climate Action Fund in the 2021-22 State Budget to develop climate-resilient communities and a prosperous low-carbon future.

Building on the Western Australian Climate Policy, the Climate Action Fund invests in sustainable WA jobs and industry innovation while protecting and enhancing the State’s unique environmental heritage values and assets.

The McGowan Government is committed to transitioning the Western Australian economy to net zero greenhouse gas emissions by 2050. The State Budget delivers a suite of measures designed to address the threat of climate change and help industry flourish to create sustainable jobs.

The McGowan Government’s Climate Action Fund includes:

  • $350 million to significantly expand the State’s softwood plantation estate, creating jobs and increasing sustainability of the industry;
  • $206 million for renewable energy initiatives to fuel WA’s future, including standalone power stations, clean energy in schools, wind turbine manufacturing, refurbishment of Denham Power Station and $1 million for research into the viability of a local green steel industry;
  • an $118 million fund to invest in future climate-related initiatives to respond to climate change and create climate-resilient communities;
  • $50 million to drive new renewable hydrogen initiatives; and
  • $26 million for Carbon Innovation Grants and to help manage coastal erosion.
  • A further $4.2 million has been allocated in the State Budget to support the development of the next Forest Management Plan.

    The 2021-22 State Budget also continues to progress the McGowan Government’s Plan for Our Parks, with $15.2 million for the joint management of the Badimia Conservation Reserves and the Thundelarra Conservation Park, and almost $16 million to facilitate negotiations for additional reserve proposals.

    Plan for Our Parks will create an additional five million hectares of new national parks, marine parks and reserves by 2024.

    In addition to the $750 million Climate Action Fund, the 2021-22 State Budget also delivers a number of other climate action initiatives, including:

    • $15 million for the Agriculture Climate Resilience Fund;
    • $14 million grant program to support a ban on e-waste in landfill by 2024;
    • $13 million Household Energy Efficiency Scheme; $2 million additional expenditure from the Establishing and Maintaining Native Vegetation Offsets Account over 2021-22 and 2022-23.

    The McGowan Government has also allocated $42 million to deliver its Climate Action election commitments, including Gross Pollution Traps to reduce plastic pollution in our oceans, Peel-Harvey Estuary Protection Plans and extra funding for the Natural Resource Management Program.

    September 2021