Australia is one step closer to establishing the Net Zero Economy Authority (The Authority) with legislation for its formation passing the Senate Thursday 22 August. The legislation is expected to get final approval when Parliament sits again in the week of 9 September.
The Authority is integral to the Australian Government's vision for A Future Made in Australia. It will ensure that the workers, regions and communities that have always powered Australia can share in the opportunities of the net zero economy transformation.
Prime Minister, Anthony Albanese said:
“This marks an important step forward in our nation’s successful transformation to a net zero economy.
“These Bills represent our commitment to ensuring no region, no community and no worker is left behind.
“This is about building the industries and creating the jobs that underpin our future prosperity.”
The Authority will work with communities, state, territory and local governments, regional bodies, unions, industry, investors, First Nations groups and others to take advantage of these opportunities.
Minister for Climate Change and Energy, Chris Bowen said:
“The Authority will have the job of looking after the workers in regions like the Hunter, Central Queensland, Gippsland in Victoria and Collie in Western Australia who are at the core of this transformation.
“It will be a one-stop shop for new industries coming to regional Australia to create jobs and investment and for the workers already there to prepare for the jobs for the future.”
Over 150 countries have now committed to net zero by 2050, including almost all major economies and most of Australia’s trading partners.
And with Australia’s renewable energy abundance, skilled workers and world class technologies, investors around the world want to invest in Australian industries.
The Bills will be back before the House of Representatives by the middle of September, with Royal Assent soon after. The Net Zero Economy Authority will commence on the commencement date fixed by the Governor General.