Australia - US Climate, Critical Minerals and Clean Energy Transformation Compact

Country / jurisdiction: Australia · Year: 2023 · Status: In force · Level: International · Type: Voluntary

In this joint statement, the Prime Minister of Australia and the President of the United States commit to enhance bilateral cooperation by establishing climate and clean energy as a central pillar of the Australia-US Alliance.

Under the Compact, the two parties intend to:

Accelerate the expansion and diversification of end-to-end clean energy supply chains.

Promote responsible, sustainable, and stable supply of critical minerals.

Drive the development of emerging battery technologies.

Support the development of emerging markets for clean hydrogen and its derivatives in the respective countries and across the Indo-Pacific.

Australia and the US will share information to enable each country to coordinate the supply of critical minerals essential to the global energy transformation, identify risks and market distortions that impact on critical minerals markets and consider mitigation options, and cooperate in identifying innovative solutions, including standards and investment needed to deliver more responsible and efficient minerals mining and processing. Australia and the United States are also establishing the ministerial-level Australia-United States Taskforce on Critical Minerals (the Taskforce), to be led by principals from the U.S. National Security Council and Australia’s Department of Industry, Science and Resources.

Official source: https://www.pm.gov.au/media/australia-united-states-climate-critical-minerals-and-clean-energy-transformation-compact