In response to the announcement of a national green iron investment fund and joint federal and SA investment in the transition of the Whyalla steelworks to green methods of steel production, the Australian Conservation Foundation's climate policy adviser Annika Reynolds (they/them) said:
"We welcome the Albanese government's announcement of a national green iron investment fund to jumpstart the transition of this globally significant industry and invest in steelworks that are already cornerstones of regional communities from Whyalla to the Illawarra.
"Iron and steel production are important to many communities and are one of Australia's largest exports, but the steel supply chain is a significant contributor to global greenhouse gas emissions and escalating climate change.
"In 2023, Australia exported 892 million tonnes of iron ore to be smelted in coal-fired blast furnaces in other countries, producing more than a billion tonnes of climate pollution.
"Decarbonising Australia's existing iron and steel production facilities, while developing new green steel projects, is critical for Australia to establish itself in the net zero global economy and make a significant contribution to reducing our climate pollution.
"If Australia decarbonised our iron and steel production and retained more of our iron ore onshore to smelt it here before exporting it as green steel, it could cut global emissions by as much as 4%.
"Green iron and steel are critical parts of Australia's future economy, while our country's polluting coal and gas exports should be consigned to the past.
"This investment, alongside the recently announced green aluminium sector package, will help Australia's metals industries cut their emissions further and faster to 2035."
ACF, along with a coalition of peak bodies, including the Business Council of Australia and ACTU, called for targeted government investment in the decarbonisation of Australia's metals sector in the Sunshot reports of 2021 and 2023.
