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A new national Net Zero Authority


Australia will establish a new Net Zero Authority to ensure the workers, industries and communities that have powered Australia for generations can seize the opportunities of Australia's net-zero transformation.

To kick-start the authority’s responsibilities immediately, an executive agency is likely to be established from 1 July 2023 in the department of the prime minister and cabinet. The new Net Zero Authority will:

  • Support workers in emissions-intensive sectors to access new employment, skills and support as the transformation towards net zero continues.

  • Coordinate programmes and policies across government to support regions and communities to attract and take advantage of new clean energy industries and set those industries up for success.

  • Help investors and companies to engage with net-zero transformation opportunities.

  • The Australian government has a huge agenda to make Australia a renewable energy superpower.

  • The government is rewiring the nation, investing in new renewable storage and generation capacity, revitalizing manufacturing and developing clean industries.

The authority will help steer the government’s agenda to support communities, workers and industries. Its mission is aligned to the Paris Agreement and is about making sure that no one is held back as the economy changes.

The authority will include a focus on regions and industries that have traditionally powered Australia’s economy. As traditional industries adapt and transform, the authority will work to ensure new industries are coming online, and workers, communities and regions are supported.

It will work with the various stakeholders to proactively manage the transformation to a clean energy economy. The authority will also work collaboratively with state and territory governments, and existing regionally-focused bodies, reflecting the shared responsibility of all levels of government to support the change to a clean energy economy.

Some of the core functions of the authority will include:

  1. Engaging with major regions, industries, investors and others

  2. To start to develop strategies for how the Australian government can best support positive transformation.

  3. The agency will also consult across government and stakeholders to refine the functions and powers of the authority before legislation is developed.

The agency will be led by an independent chair, supported by an advisory board.



Source: asiainsurancereview.com

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