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Government looks to invest $500 million in more carbon capture and storage technology

Prime Minister Scott Morrison drives a hydrogen-fuelled car around a Toyota test track in Melbourne. Source: AFP

Half a billion dollars in clean energy funding would be used to back carbon capture and storage under a renewed Morrison government proposal.

The Morrison government is again trying to change the law to let Australia's green bank invest in controversial carbon capture and storage technology under a $1 billion fund.

It would give the Clean Energy Finance Corporation an additional $500 million to help fund small-scale start-ups considered too risky for private finance.

The coalition plans to introduce legislation into parliament before the next election due by May 2022.

Read more here.

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