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Australia could cut global emissions with green metals
Australia could significantly cut global greenhouse gas emissions and double its export revenue by producing green metals, former competition leader Rod Sims says.

But the Superpower Institute chairman also said the forthcoming federal budget would need to address hurdles to launching renewable energy projects and Australia would need to tax fossil fuels by 2030 to make the most of its opportunity.

"We could remove, according to our estimates, another six to nine per cent of global emissions that other countries will find very difficult to abate by making, for example, green iron, green aluminium, polysilicon, transport fuels and urea fertiliser," he said."By turning our iron ore into green metal alone... that would reduce world emissions by three per cent or three times what we can from decarbonising Australia."

"Australia can make iron ore 10 times more valuable by turning it into green iron or a green iron precursor that can be shipped to China."