Australia announces new authority to help achieve net-zero targets

The Australian government announced plans to create a new Net Zero Authority to support communities, workers, and industries in transitioning to a clean-energy economy. The authority will work towards ensuring that traditional industries and workers, communities, and regions are supported. It will focus on regions and industries that have traditionally powered Australia's economy.

The government set a target to achieve net-zero emissions by 2050, and the authority will have three primary functions. Firstly, it will support workers in emissions-intensive sectors to access new employment, skills, and support. Secondly, it will coordinate programmes and policies across the government to support regions and communities to attract and take advantage of new clean energy industries. Lastly, it will help investors and companies engage with net-zero transformation opportunities.

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The Carbon Market Institute welcomed the move. CEO John Connor stated that the new authority would be a ‘vital piece of the puzzle’ in guiding the economic transition to a net-zero economy. Climate Council’s CEO, Amanda McKenzie, has also expressed support, noting that the new authority ‘can provide important leadership and coordination’ in the shift towards renewables.

The Australian government plans to establish a temporary agency from 1 July 2023 to begin some of the core functions of the Net Zero Authority. An independent chair, supported by an advisory board, will be appointed in due course.

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