Commercial, Energy Efficiency, GHG Emissions  -  May 9, 2023

Australia Creates Net Zero Authority For Emissions Strategy

The Albanese government in Australia will legislate a national Net Zero Authority to ensure the promotion of economic transformation associated with achieving net zero emissions.

The federal government will capitalize on the country’s potential as a renewable energy superpower by supporting workers in emissions-intensive sectors to access jobs,  skills and support, according to an announcement.

The Albanese government is the federal executive government of Australia.

The Net Zero Authority will also coordinate programs and policies across various government entities to attract and take advantage of new clean energy industries, as well as provide assistance for investors and companies to engage with net zero transformation opportunities.

The government plans to recommend to the Governor-General the establishment of an Executive Agency from July 1 this year.

The Authority will work with state, territory and local governments along with current regional bodies, unions, industry, investors and First Nations groups.

The Albanese Government will also provide additional funding from the $1.9 billion Powering the Regions Fund to support existing sectors such as rail and aviation as well as new clean energy industries by creating a $400 million Industrial Transformation Stream.