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Future Proofing our local industries

12 November, 2020

Peter Gutwein MP

Premier and Minister for Climate Change

2020-21 Budget: Future proofing our local industries

The Tasmanian Liberal Government is focussed on rebuilding a stronger Tasmania by future-proofing our economy through supporting our businesses and industries to innovate and use clean technologies.

This year’s State Budget funds a new $10 million no‑interest loan scheme for large Tasmanian greenhouse gas‑emitting businesses and industries.

The loans will assist business and industry to trial existing clean technologies or test new innovative production processes, leading to reduced emissions. This will further support our transition to a low emissions economy, and the Tasmanian Government’s commitment to achieve net zero emissions by 2050.

The initiative follows on from the Tasmanian Government’s Business Resource Efficiency Program, which supported 11 businesses in a range of sectors to improve their resource efficiency through action learning, including waste reduction and diversion, emissions reduction, innovation and driving productivity gains.

The Program was delivered in partnership with Business Action Learning Tasmania and targeted towards small to medium businesses, with a range of resources now available online for use by businesses.

Over $30 million will be invested in waste and resource recovery initiatives across Tasmania to help us build a circular economy as part of a stronger Tasmania.

In this Budget, the Tasmanian Government will provide up to $5.5 million in grants that will be matched dollar‑for‑dollar by the Australian Government and recycling businesses to invest at least $16.5 million in new commercial recycling opportunities that create long‑term sustainable jobs in Tasmania.

In addition, the 2020‑21 Budget also includes $10 million to co‑invest with the existing waste management sector in Tasmania to build the infrastructure needed to collect and sort recyclable waste.

The Tasmanian Government is committed to supporting all businesses to learn and develop new ways of working together to improve resource efficiency and reduce emissions as we transition towards a low emissions economy.