A project that would establish CO2 transport and storage infrastructure for use by power stations and heavy industry in Victoria's Latrobe Valley is seeking CCS Flagships funding.
It's Labor's first commitment period – with the Rudd government last night setting out where its climate change and environment cash will be spent over 2008-2012. New Budget climate measures will get $341.6 million in 2008-09 and a total of $2.3 billion over 2007-08 to 2011-12.
Meanwhile, Treasurer Wayne Swan says the review of the tax system – due to report by the end of 2009 – will 'look at the role to be played by environmental taxes'.
CE Daily looks at where the money will go and guides you through the maze of Budget papers.