The Hon Greg Combet AM will complete his term as Chair of the Net Zero Economy Agency in mid-2024 and commence as Chair of the Future Fund, following his appointment by the Austrailan Government.
Mr Combet commenced his 12-month term as Chair of the Net Zero Economy Agency at its establishment in July 2023, when the Agency was stood up by the Government to promote orderly and positive net zero economic transformation for Australia, its regions, industries, workers and communities.
The work of the Agency is the precursor for the legislated Net Zero Economy Authority, which will occur following established Parliamentary processes.
As Chair, Mr Combet is playing an important role in guiding the detailed design and establishment of the new Authority, including engaging with key stakeholders and visiting regions to identify how the Authority can make a positive contribution to Australia’s transition to a net zero economy.
“The economic transformation associated with the shift to net zero is the biggest economic change since the Second World War, and it will happen much faster,” Mr Combet said.
“More needs to be done to manage the downside risks and realise the upside opportunities in a coordinated way, which will be an important focus of the Authority, as well as communicating changes, supporting workers, and promoting transformational projects and investment in the regions.”
“It is a privilege to play a role in informing the design and future work of this important new statutory body. I look forward to continuing this work for the rest of my term and to ensure a smooth handover to the new Chair, once appointed.”
Mr Combet will commence his role at the Future Fund mid-year in 2024, after he has completed his current term as Chair of the Net Zero Economy Agency.
A replacement for Mr Combet will be considered by Government in due course.
Until the Net Zero Economy Authority is legislated, subject to passage through parliament, the Net Zero Economy Agency will continue to perform the Authority’s intended functions, including:
- Catalysing investment in new industries and jobs, particularly in emissions-intensive regions.
- Supporting workers impacted by net zero transition, particularly workers in coal-fired power stations and dependent mines, transition to new opportunities.
- Helping coordinate policy and program design and delivery for an orderly and positive net zero economic transformation, through advice to government and by working on-the-ground in key regions.
- Building community understanding, confidence and engagement with net zero economic transformation.