Jump to content

Net Zero Economy Authority

Add links
From Wikipedia, the free encyclopedia

Net Zero Economy Authority
Agency overview
Formed1 July 2023 (2023-07-01) (as the Net Zero Economy Agency)[1]
11 December 2024 (2024-12-11) (as the Net Zero Economy Authority)[1]
Agency executives
  • David Shankey, Chief Executive Officer
  • Iain Ross, Chair
Parent departmentDepartment of Industry, Science and Resources[2]
Websitehttps://www.netzero.gov.au/

The Net Zero Economy Authority (NZEA, previously known as the Net Zero Economy Agency) is an agency of the Australian government responsible for providing coordination relating to the Australian transition to net zero emissions.[3][4]

History

[edit]

Before the NZEA was set up, Australia had a landscape of different investment support including the Clean Energy Finance Corporation, the Australian Renewable Energy Agency, the National Reconstruction Fund, and the Powering the Regions Fund, but it lacked an organisation which coordinated this work.[5]

During the passage of the legislation to set up the authority, the Net Zero Economy Authority Act 2024, there were at least 5 coal-fired power stations and 4 natural gas-fired power stations planned for closure.[6]

Functions

[edit]

The agency will identify opportunities in relation to achieving net zero and coordinate with communities, state and territory governments, local governments, regional bodies, unions, industry, investors and First Nations groups.[3]

The NZEA is responsible for maintaining the Energy Industry Jobs Plan, which helps employees impacted by the closure of coal-fired and gas-fired power stations.[7]

Reception

[edit]

The Coalition pledged to abolish the authority if they won the 2025 Australian federal election.[8] The Local Government Association of Queensland has suggested that local government should have a specific seat on the board of the NZEA, but were supportive of the body being set up.[9][10]

The Australian Council of Trade Unions was very supportive of the NZEA being set up.[6] Adam Morton, writing in the Guardian, described the authority as "important" in relation to the potential social ruptures due to decarbonisation.[11]

See also

[edit]

References

[edit]
  1. ^ a b "Board comes together as the Authority stands up". Net Zero Economy Authority. Australian Government. 17 December 2024. Retrieved 7 May 2025.
  2. ^ "Administrative Arrangements Order - 13 May 2025". Department of the Prime Minister and Cabinet (Australia). Retrieved 16 May 2025.
  3. ^ a b Coade, Melissa (18 December 2024). "Net Zero Authority up and running". The Mandarin. Archived from the original on 7 May 2025. Retrieved 7 May 2025.
  4. ^ Morton, Adam (2 April 2024). "Australia faces postwar-style reconstruction to reach net zero target, Greg Combet says". The Guardian. Archived from the original on 3 April 2024. Retrieved 7 May 2025.
  5. ^ Jotzo, Frank (31 May 2024). "Why do we need a Net Zero Economy Authority? And how can it fulfil its promise?". The Conversation. Archived from the original on 31 May 2024. Retrieved 7 May 2025.
  6. ^ a b Jenns, Claire (22 August 2024). "Australia passes Net Zero Economy Authority Bill as green energy push continues". Power Technology. Archived from the original on 7 May 2025. Retrieved 7 May 2025.
  7. ^ MacNamara, Sarah (3 June 2024). "New federal net zero legislation". Energy Magazine. Archived from the original on 9 December 2024. Retrieved 7 May 2025.
  8. ^ Morton, Adam (2 May 2025). "A climate election? The Coalition wants to take Australia backwards, while Labor is standing still". The Guardian. Archived from the original on 3 May 2025. Retrieved 7 May 2025.
  9. ^ "Qld councils call for seat on net zero board". Government News. 2 May 2025. Archived from the original on 7 May 2025. Retrieved 7 May 2025.
  10. ^ Barker, Steph (8 May 2023). "QLD councils register support for Net Zero Authority". Council Magazine. Archived from the original on 1 June 2023. Retrieved 7 May 2025.
  11. ^ Morton, Adam (3 April 2024). "A big week for climate policy in Australia: what happened and what to make of it". The Guardian. ISSN 0261-3077. Retrieved 7 May 2025.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Net_Zero_Economy_Authority&oldid=1290658750"