Netzero authority introduced in Australia

The federal government announced that it would legislate a national NetZero Authority to ensure the workers, industries, and communities that have powered Australia for generations can seize the opportunities of Australia’s netzero transformation.

The Authority will have responsibility for promoting the orderly and positive economic transformation associated with achieving net zero emissions, supporting workers in emissions-intensive sectors to access new employment, skills and support as the net zero transformation continues.

The Authority will also coordinate programmes and policies across government to support regions and communities to attract and take advantage of new clean energy industries, set those industries up for success, and help investors and companies to engage with net zero transformation opportunities.

In a joint statement, Prime Minister Anthony Albanese and Minister for Climate Change and Energy, Chris Bowen said in order to kickstart the Authority’s responsibilities immediately, the government intends to establish an Agency from July 1 this year, initially housed in the Department of Prime Minister and Cabinet. The Agency will also lead on providing advice to government on the final design and establishment of the legislated National NetZero Authority.

The Authority will work with state, territory and local governments, existing regional bodies, unions, industry, investors, First Nations groups and others to help key regions, industries, employers and others proactively manage the transformation to a clean energy economy.

The government will also provide additional funding from the A$1.9-billion Powering the Regions Fund to support existing industry, such as rail and aviation, and new clean energy industries, with the creation of a A$400-million Industrial Transformation Stream.

Both the Clean Energy Council and the Climate Council have welcomed the establishment of the Net Zero Authority, with the Clean Energy Council on Friday saying it would safeguard worker support, ensure regional employment and enrich education in the sector and beyond.

Meanwhile, the Mining and Energy Union (MEU) has also welcomed the Authority, saying it would be a “game change” for workers and communities affected by the energy transition.