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Australia's government has announced a significant investment of $1.1 billion over the next decade to foster a domestic low carbon fuels industry, a move supported by the agricultural sector. The funding aims to stimulate private investment in biodiesel and sustainable aviation fuel, leveraging the country’s agricultural resources and renewable energy.

Finance Minister Jim Chalmers emphasized this initiative as a means to create jobs and ensure Australia is a key player in the global transition to net zero emissions. Stakeholders await further details on funding allocation and supportive policies.