Australia’s push to reach net-zero emissions by 2050 will now include a $1 billion boost to help bankroll low emissions technologies. The government’s new Low Emissions Technology Commercialisation Fund will combine $500 million of private investment with $500 million from the government’s Clean Energy Finance Corporation (CEFC). CEFC is the world’s largest government-owned bank focusing on green projects and has committed $9.5 billion to date across 220 large scale projects and 23,700 smaller-scale investments. Prime Minister Scott Morrison has emphasised Australia would slash its emissions through research and innovation of technology that helped reduce carbon dioxide production throughout high-emissions industries. “Our plan to reach net-zero by 2050 is an Australian one that’s focused on technology, not taxes and this fund backs Australian companies to find new solutions,” Morrison said. Energy and Emissions Minister Angus Taylor said the fund would target organisations that were involved in cutting edge research. “The Fund …