THE NSW GOVERNMENT’S $750 million Net Zero Industry and Innovation program will help the state’s businesses cash in on the economic opportunities of a transition to net zero emissions.
The program will provide grants for equipment upgrades, technology development and setting up new clean industries such as green hydrogen.
“NSW industrial hubs like Port Kembla and the Hunter have incredible potential to be global clean industry leaders, with the right mix of skills, infrastructure and clean energy potential,” said Climate Council spokesperson and economist Nicki Hutley.
“They need policy support and funding to adapt to a world where Australia’s major trading partners are moving towards net zero emissions, and demand for low-carbon products is growing,” she said.
“Today’s announcement is a welcome move to help businesses support and grow jobs in industries such as manufacturing, and employ new workers in a changing global market,” said Ms Hutley.
“But it must be implemented carefully to track emissions reductions and business benefits, and the focus must be on a genuine transition to clean industry rather than propping up the role of fossil fuels,” said Ms Hutley.
While all Australian states and territories have adopted a target of net zero emissions by 2050 at the latest, the Federal Government has yet to adopt a national net zero emissions target, and still plans to spend public money on new gas projects.
“The Federal Government’s reluctance to commit to a net zero target is a growing economic risk for Australia. It should follow the lead of states and territories, and unlock the economic and job creation benefits of climate action,” said Ms Hutley.
The Climate Council’s Clean Jobs Plan outlines how we can create 76,000 jobs in the short term while setting Australia up for the future and tackling long-term problems like climate change.