Australia’s richest firms get $331m in grants to reduce emissions

The Albanese government has doled out $331 million to some of Australia’s richest firms – including Rio Tinto, Wesfarmers, Swiss giant Glencore and Rich Lister Dick Honan’s Manildra Group – under its Powering the Regions Fund for decarbonisation projects.

The new grants announced on Tuesday are on top of $200 million shelled out to BlueScope Steel and Sanjeev Gupta’s Liberty Steel for projects at their Port Kembla and Whyalla steelworks in January.