Labor Pledges $2 Billion Credit Scheme to Help Decarbonise Aluminium Industry

The funding comes as part of the Future Made in Australia Act.

A worker collects molten aluminium samples in Biesheim, eastern France, on Dec. 5, 2022. Sebastien Bozon/AFP via Getty Images

The Australian Labor government has unveiled a new credit scheme to fast-track the decarbonisation of the country’s aluminium industry.

On Jan. 20, Prime Minister Anthony Albanese announced that the government would invest $2 billion (US$1.24 billion) to help aluminium smelters transition to using renewable-generated electricity before 2036.