Australia’s net zero economy authority legislation passes Senate

Australia has taken a significant step toward establishing the Net Zero Economy Authority, with the Senate passing legislation today aimed at helping workers and communities, especially in traditional energy sectors, capitalise on the nation’s transition to a net zero economy.

The Authority’s primary role will be to collaborate with communities, state and local governments, regional bodies, unions, industries, investors, and First Nations groups.

Its mission is to facilitate the economic transformation necessary for achieving net zero, focusing on retraining and redeploying workers from traditional energy sectors and streamlining processes for clean energy investments.

Prime Minister Anthony Albanese emphasised the importance of this development, stating, “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.”

He added, “This is about building the industries and creating the jobs that underpin our future prosperity.”

Meanwhile, Minister for Climate Change and Energy, Chris Bowen, highlighted the Authority’s critical role, particularly for workers in regions heavily reliant on traditional energy industries.

“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,” Bowen said.

“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 of the future,” Bowen said.