A new National Net Zero Authority has been announced by Federal Energy and Climate Change Minister Chris Bowen in the Hunter today.
Included in next weeks Federal Budget will be funding for the Authority which will assist coal-dependent communities, businesses and workers transition to a clean energy economy through training and by supporting investment opportunities in mining heartlands like the Hunter Valley.
$23 million will be set aside for the statutory body in its first year of operation, which will commence from July 1.
“We want this authority to focus like a laser on any obstacles to job creation and investment. We want it to be a one-stop-shop for those who are thinking of coming to regions like this to create new jobs, to create investment and jobs for the future,” Mr Bowen said.
“The reason why the Hunter is so important is of course it has been one of the regions which has powered Australia for generations and under the Albanese Government regions just like this will be at the absolute center of our transformation.”
Calls for the statutory body have been intensified by the recent shut down of the Liddell Coal Fired Power Station at Muswellbrook and the impending closure of Eraring in Lake Macquarie where about a hundred workers and union members rallied last week in support of such an authority being established.
That wasn’t the only big announcement Mr Bowen made today, he also unveiled the a $400 million fund to assist regional industries to decarbonise.
It will be set up as a new funding stream under the Powering the Regions Fund and administered by ARENA.
“Decarbonisation is absolutely essential, but it also takes investment. We know it’s in the nation’s interests for industries in the regions to be invested in decarbonisation and therefore it is in the interests of the government to to help,” Mr Bowen said.