Senate passes Net Zero Economy Authority legislation

Prime Minister Anthony Albanese has announced that the Senate has passed legislation to establish a Net Zero Economy Authority.

The aim is to help workers and communities, especially in traditional energy sectors, capitalise on the nation’s transition to a net zero economy.

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 opportunities in the net zero economy.

It will coordinate with them to facilitate the jobs and benefits of the economic transformation that come with moving to net zero, whether it is retraining and redeploying workers in traditional energy industries or cutting red tape in clean energy investment.

Over 150 countries have now committed to net zero by 2050, including almost all major economies and most of Australia’s trading partners. The government believes that with Australia’s renewable energy abundance, skilled workers and world-class technologies, investors around the world want to invest in Australian industries.

“This marks an important step forward in our nation’s successful transformation to a net zero economy,” the Prime Minister said. “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 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,” said Minister for Climate Change and Energy Chris Bowen. "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.”

Image credit: iStock.com/serts