Net zero economy

A national Net Zero Authority will be legislated to promote orderly and positive economic transformation associated with decarbonisation and energy system change. This is so Australia, its regions and its workers realise and share the benefits of the net zero economy. The Australian Government announced this in May 2023.

More than 150 countries have now committed to net zero by 2050, including almost all major economies and most of Australia’s trading partners. This global shift to net zero presents substantial economic opportunities for Australia and its regions.

The Net Zero Authority will help manage this change and realise the opportunities by:

  • helping investors and companies engage with net zero transformation

  • coordinating programs and policies across Government to support regions and communities to attract and take advantage of new clean energy industries and set these industries up for success

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

A photograph of a group of staff from the Net Zero Economy Agency visiting an ammonium nitrate site at Kooragang Island in NSW.

Net Zero Economy Agency staff visit Orica’s ammonium nitrate site, Kooragang Island, New South Wales
Image: Josh Cosgrave

Ahead of the parliamentary processes to establish the Net Zero Authority, a Net Zero Economy Agency started on 1 July 2023, chaired by The Hon Greg Combet AM. An Advisory Board has been appointed with significant expertise across areas including workplace relations, energy markets, regional development, First Nations engagement and economic development.

The Net Zero Economy Agency is engaging with stakeholders on the detailed design, priorities and strategies for the legislated Net Zero Authority.

See also

Operating context – APS Net Zero commitment, State of the Service Report 2022–23.

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