The program offers grants ranging from $10,000 to $500,000 with the aim of encouraging businesses to initiate projects that improve the energy or water efficiency of their production processes. Applications for grants close on October 20.

Printing Industries has touted the scheme as something which can not only address environmental concerns, but also had a financial benefit.

“With the final report of the Garnaut Climate Change Review estimating that retail electricity prices will increase between 40 and 70 per cent by 2020 under various scenarios, there is now a cost imperative to produce in the most energy efficient manner as feasible,” said Hagop Tchamkertenian, Printing Industries’ national manager for policy and government affairs.

Tchamkertenian added that Printing Industries was seeking additional support from the federal government for small and medium sized businesses who will be impacted by the proposed emissions trading scheme but may not qualify for government support.

“While programs such as the Re-tooling for Climate Change and Climate Ready are a good start, the fact that the funding is competitive and merit based means that many businesses will miss out on funding,” he said.

To be eligible for a grant, businesses need to demonstrate they can cover at least two-thirds of the cost of the project, with the federal grant covering no more than one-third of the full cost.

Some of the projects mentioned by Printing Industries include stormwater capture and improving water recycling, improving insulation and recovering waste heat, and the adoption of energy efficient manufacturing tools and processes.

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