Powering the Regions Fund – Safeguard Transformation Stream Round 2

For this second round of the Powering the Regions Fund - Safeguard Transformation Stream approximately $321 million is available from 2025-26 to 2032-33.

The objectives of the grant opportunity are to:

• support trade-exposed facilities covered by the Safeguard Mechanism to reduce their emissions and contribute to meeting Australia’s 2030, 2035 and 2050 emissions reduction targets
• reduce the risk of carbon leakage, which occurs when a business responds to emissions reduction policies by moving emissions-intensive production to a country with less stringent policies
• provide skills development to existing industrial workforce in new equipment or processes that contribute to the reduction of scope 1 emissions.

The intended outcome of this grant opportunity is a reduction of emissions at trade exposed Safeguard facilities consistent with their obligations under the Safeguard Mechanism.

You can apply if you:

• are an owner or operator of a trade-exposed safeguard mechanism facility that is not a new or expanded gas or coal facility
• have an Australian business number (ABN)

And are one of the following entities:

• an entity incorporated in Australia
• company limited by guarantee
• incorporated association.