The Government has appointed Mr James D. Wolfensohn to the position of Chair of the International Advisory Panel of the Global Carbon Capture and Storage Institute.
Mr Wolfensohn is the Chairman of Wolfensohn & Company, LLC, and Chairman of Citi International Advisory Board.
Mr Wolfensohn is the former President of the World Bank and a highly respected member of the international financial community who will bring vast experience, international influence and strategic vision to this role.
The Government is delighted that he has agreed to take this important position.
The Global Carbon Capture and Storage Institute is being established by the Government to accelerate the deployment of carbon capture and storage (CCS) technology globally and the sharing of information.
The Institute will play a key role in achieving two of the three pillars on which the Government's climate change policy is built.
It will help us meet our emission reduction targets by advancing CCS technology through support for commercial scale demonstration projects in Australia.
It will help shape an international solution to climate change by building momentum for the G8 goal of 20 large scale CCS demonstration projects globally by 2020, and through research and the dissemination of information.
The International Advisory Panel will provide broad strategic guidance to the Institute and work globally to enhance its international reputation and networks.
Australia has had strong international support for the Institute, and the inaugural meeting of Foundation Members will be held in Canberra later this month.