Net Zero Authority and Agency will guide industry transition

Bills to establish a Net Zero Economy Authority and Net Zero Economy Agency to guide industry and the economy’s transition to net zero emissions have passed the Senate and will soon be signed into law.

The Bill establishes a new independent statutory authority to promote orderly and positive economic transformation as the world decarbonises.

Billed as ‘one of the most significant economic shifts since the Industrial Revolution’, the Authority will coordinate policies and activities across the government.

The Authority will focus on supporting workers, communities, regions and industry to realise and share in the benefits of the net zero economy.

According to a statement: “In Australia, this transformation will lead to major economic and workforce change, particularly in our industrial regions.”

The Authority will:

• Coordinate net zero efforts across government and key stakeholders
• Facilitate public and private sector participation and investment in greenhouse gas emissions reduction and net zero transformation initiatives
• Support workers in emissions-intensive industries who are affected by the net zero transition to access new employment, or acquire skills
• And establish The Energy Industry Jobs Plan to support employees impacted by the closure of some coal-fired and gas-fired power stations.

The Authority will be governed by an independent Board consisting of a Chair and up to eight other members, with at least two from business and two from the trade union movement.

The national secretary of the Australian Manufacturing Workers’ Union (AMWU) Steve Murphy (pictured) said workers in energy regions had been pushing for an energy transition authority.

Murphy said: “We have been demanding a table where positive decisions are going to be made about the future of our energy regions.

“The passing of this legislation not only establishes a table, but gives workers a seat at it.

“Now we have confidence that workers in our energy regions will have a say in the kinds of manufacturing jobs and industries that will be established where they live, so they don’t have to move away from the places they love.”

Picture: Steve Murphy