Australia and the United States (US) have committed to enhance bilateral cooperation under a Climate, Critical Minerals and Clean Energy Transformation Compact, establishing climate and clean energy as a central pillar of the Australia-US Alliance.
According to a joint statement from the PM of Australia and the President of the US, the Compact is a framework that intends to coordinate policies and investments to support the expansion and diversification of responsible clean energy and critical minerals supply chains, accelerate the development of markets for established and emerging technologies, meet the growing energy and adaptation needs of the Indo-Pacific and enhance the region’s role as a driver of resilient and sustainable global prosperity.
Under the leadership of Australia’s Department of Climate Change, Energy, Environment and Water and the US National Security Council, Australia and the US have announced they will establish a dedicated forum on Clean Energy Industrial Transformation to set the core objectives of the Compact.
Through that mechanism, the countries said they intend to coordinate the implementation of their respective clean energy supply chain strategies and develop a new action plan by the end of 2023 to encourage stronger industrial collaboration and accelerate progress towards their climate goals.
Under the Compact, Australia and the US revealed they intend to:
To achieve the objectives, the countries noted they aim to: