Climate & Energy

What We're Doing

 

Budget 2024-25

Through smarter use of data, better decision-making processes and appropriate resourcing, this Budget provides a faster pathway to better decisions on environmental, energy, planning, cultural heritage and foreign investment approvals by:

  • Attracting investment in key industries and making Australia a renewable energy superpower.
  • Remaining committed to reaching net zero greenhouse gas emissions by 2050.
  • Investing in skills for priority industries and higher education.
  • Supporting small businesses and our regions.

 

The Future Made in Australia Package

The $22.7 billion Future Made in Australia package will help facilitate the private sector investment required for Australia to be an indispensable part of the global economy. It recognises the best opportunities for Australia are at the intersection of industry, clean energy, resources and human capital by:

  • Creating a Future Made in Australia Act and establishing a National Interest Framework that identifies priority industries and ensures investments are responsible and targeted. 
  • Value-adding to our resources and strengthen economic security by better attracting and enabling investment in priority areas.
  • Building a stronger, more diversified and resilient economy powered by clean energy in turn creating secure, well-paid jobs in our regions and suburbs; investing in the people, communities and services that will drive success.

The Albanese Government is committed to reaching net zero greenhouse gas emissions by 2050 and is developing six sector plans covering:

  • Electricity and energy,
  • Transport,
  • Industry,
  • Resources,
  • Agriculture and land, and
  • The built environment.

 

Energy

To realise Australia’s potential to produce abundant renewable energy, we are unlocking more than $65 billion of investment in renewable capacity through the Capacity Investment Scheme by 2030.

  • $1.7 billion to promote net zero innovation and renewable energy, including green metals and low-carbon fuels under the Future Made in Australia Fund.
  • The Hydrogen Production Tax Incentive will make Australia’s pipeline of hydrogen projects commercial sooner, with an estimated investment of $6.7 billion over the decade.

 

Addressing Climate Change

  • We are committing $17.3 million to mobilise private sector investment in sustainable activities.
  • Further providing $448.7 million to partner with the United States in the Landsat Next satellite program - allowing access to critical data from monitoring the earth’s climate, agricultural production, and natural disasters.
  • A further $138.7 million - in addition to the $11.4 billion previously committed for states and territories’ Disaster Recovery Funding Arrangements - to improve Australia's response and resilience to natural hazards and disasters. 
  • The Albanese Government will provide $519.1 million from its Future Drought Fund to help farmers and rural communities manage climate change impacts and prepare for future droughts.

 

“The 'One Health' model encompassing human, animal and environmental health immediately elevates stewardship. Our First Nations have known this all along. We cannot privilege one above the other because we are nourished physically and spiritually by the natural world”.

- Dr Michelle Ananda-Rajah, First Speech, 1 August 2022

 

Our Commitment

On climate, Australia has passed a crucial milestone. After a decade of denial and delay, the Albanese government passed the historic Climate Change Bill (2022).

It means that Australia has committed to achieving net-zero emissions by 2050 and is on course to increase renewable energy from 33 per cent currently, to 82 per cent by 2030. We are on the cusp of a massive energy transformation.

Our government is taking a sector-by-sector approach to lowering emissions. Our Powering Australia Plan targets electricity, transport and heavy industry with modelling showing a reduction in emissions of 43 per cent by 2030. This interim target, however, represents a floor rather than a ceiling to our ambition.

The International Energy Agency has commended the Albanese Government for significantly stepping up the country’s climate ambition, action, and energy transformation. 

 

Net Zero Authority

We’re establishing a Net Zero Authority to support workers, industries, and communities through our energy transformation. The new, legislated Net Zero Authority will:

  • Support the workers in emissions-intensive sectors to equip themselves with new skills and gain new employment.
  • Coordinate government programs and policies to make sure regional communities can take advantage of new emerging renewable industries.
  • Help investors and industry engage with net zero transformation opportunities.

 

Record Investment

The Albanese Government is turning Australia into a renewable energy superpower. The Climate Change Bill (2022) has also brought certainty, opening the floodgates to investment from the private sector as well. Government-funded projects include:

  • The Albanese Government partnering with the Palaszczuk Government to deliver a $117 million investment will unlock Australia’s hydrogen potential. It will fund the development of Queensland’s largest renewable hydrogen project, in Gladstone. It is within the top 10 hydrogen projects in the world that are at a similar stage of development. It is expected to create almost 9,000 jobs and over $17.2 billion in hydrogen exports over its 30-year lifetime.
  • The 2023-24 Budget is delivering $2 billion for a new Hydrogen Headstart program to support the development of Australia’s renewable hydrogen industry.
  • $1 billion investment by Black Rock in grid-scale batteries, its largest international investment by the world’s largest investment fund.
  • The Rewiring the Nation Plan will invest $20 billion to modernise our electricity grid on the East Coast to enable large-scale renewable energy projects. It will fast-track Renewable Energy Zones (REZ) and offshore wind development. This will deliver new renewable power and drive down power prices, creating jobs and supporting the reliability of electricity supply. It includes investment in the Victoria-New South Wales Interconnector (VNI West) KerangLink and the Marinus Link interconnector.
  • The VNI-West KerangLink will unlock 4,000 MW of new power generation, supporting more than 2,000 direct jobs during construction and generating $1.8 billion in net market benefits - including for electricity users.
  • The Marinus Link, the biggest energy investment since 1974, a proposed electricity and telecommunications interconnector between Tasmania and Victoria will deliver low-cost, reliable and clean energy. It is set to create 1,400 jobs in Victoria.
  • The signing of the Clean Energy Demand Initiative between Australia and the United States to break down barriers for US companies like Apple, Johnson and Johnson and Amazon, to invest in Australia’s energy sector.
  • Appointment of 3 outstanding women to the Climate Change Authority including the first Indigenous woman, Dr. Virginia Marshall, Professor Lesley Hughes, and Ms Sam Mostyn AO.
  • Upgrades to the Nationwide House Energy Rating Scheme (NatHERS). The scheme can now rate the energy performance for the whole home, whilst updates to the minimum energy requirements will help new homeowners save an average of $183 on their power bills every year. The updates will require all new Australian homes to meet a minimum energy efficiency rating of 7 stars.
  • Establishment of a High-Speed Rail Authority to start planning this multigenerational project that will reduce our dependence on aviation for intercity travel. My speech can be found here.
  • $45 million towards a 250-megawatt renewable underground storage project in Broken Hill, which uses a disused mine to enable fuel-free energy storage involving compressed air to power homes and businesses in the evening, placing downward pressure on energy prices.
  • The Albanese Government will join 122 countries around the world in signing the methane pledge - to reduce methane emissions by 30 per cent by 2030.
  • Permanently cancelling Commonwealth-held Kyoto ‘carryover’ credits will prevent future governments from using the offsets to meet the country’s climate targets. The Albanese and Malinauskas Governments have finalised a grant agreement to develop the Port Bonython Hydrogen Hub near Whyalla, which will create regional jobs and bring Australia another step closer to becoming a renewable energy superpower.
  • The Albanese Government is making sure South Australia and Victoria have enough clean, affordable and reliable energy by opening registrations for the South Australia and Victorian Capacity Investment Scheme (CIS). The program will deliver 600 megawatts of backup clean energy to ensure Australia has enough reliable energy for homes and businesses as the energy market transforms.
  • Investing in the switch to EVs through supporting the initiation of Australia’s largest EV fleet charging project in Port Melbourne.
  • An $11 million investment to back Australian solar technology developers SunDrive to manufacture the world’s most efficient solar modules. This investment in solar will make cleaner and cheaper solar power even more affordable by advancing production of PV cells to 15,000 a year and decreasing installation costs by 20-30 per cent.
  • The Albanese Government is backing the development of a hydrogen-powered aircraft to help first responders and defence personnel save lives and better meet the needs of Australians living in regional and remote areas.
  • The Federal Labor Government has approved a new renewable energy hub in Plumpton, Victoria which will power over 1 million households.

 

Climate Integrity

Climate integrity means making sure everyone - government, the public service, corporations and the fossil fuel industry - is honest and accountable for their carbon emissions. The Albanese Government takes integrity very seriously, and has initiated or strengthened the following processes:

  • The Climate Change Authority provides independent expert advice on climate change policy. The Authority conducts and commissions its independent research and analysis. The Albanese Government has appointed three new members to the Council – Prof Lesley Hughes, Dr Virginia Marshall and Ms Sam Mostyn AO.
  • The Australian Clean Energy Regulator is an independent statutory authority that administers schemes to manage Australia’s carbon emissions. Just as a water authority can detect corrupt or other unhelpful behaviour in the distribution and use of water, the Clean Energy Regulator keeps a watchful eye on carbon credits.
  • We have passed the Safeguard Mechanism through the lower house, which will improve transparency and accountability measures.
  • We have reported Australia’s emissions to the United Nations annual National Inventory Report. This is Australia's – and the world’s – first National Inventory Report that meets the requirements of the Paris Agreement. This is an example of the Albanese Government’s commitment to transparency and accountability in both a national and international context.

 

Energy Prices

The Albanese Government’s actions to cap coal and gas prices have been effective at limiting energy price spikes.

  • Increases in energy prices have been $492 less than they would have been without Government intervention and up to $1,084 less than they would have been for small businesses. We have partnered with the states and territories to deliver up to $3 billion in direct and targeted energy relief for households and businesses.
  • Peter Dutton and his Liberal-National coalition have voted against every dollar of bill relief.
  • In the medium to long term, we are accelerating through a massive energy transformation because we know the cheapest form of energy is renewable energy. This is the ultimate way to take the pressure off bills and shield Australia from volatile international energy prices.
  •  The Government consulted on questions relating to the design of the Gas code between 9 December 2022 and 7 February 2023. Over 60 submissions were received. A second round of consultation was undertaken between 26 April 2023 and 12 May 2023 to allow stakeholders to consider an exposure draft of the code. Over 40 submissions were received.
  • We are rolling out the Community Batteries for Household Solar Program which will deliver 400 community batteries across the country. This will help lower energy bills, deliver reliable renewable energy, and take pressure off the grid.

 

National Electric Vehicle Strategy

  • We are currently consulting with industry and the community to finalise the details of this. Over 80 per cent of the global car market has vehicle fuel efficiency standards that outline how much carbon dioxide a car will produce when running. Currently, Australia and Russia are the only major economies without these.
  • Introducing fuel efficiency standards will increase the supply of EVs in Australia and reduce fuel costs for Australians. It is estimated that they could save motorists $519 a year in fuel costs.
  • We’re preparing a recycling, reuse and stewardship initiative for EVs and other large-format batteries that will be world-leading.

 

Making EVs More Accessible

  • Upfront costs are a huge barrier for Australians when considering whether or not to buy an EV. We’re providing $40 million in support for discounted loans on the cleanest vehicles.
  • Discounted financing on EVs under $90,000 with strong emissions standards will help drive growth of the Australian market while providing access to cleaner and cheaper cars.
  • We’re putting 1,000 EVs in the hands of Australian businesses. We’re providing $6.2 million in funding towards a project that will help business owners switch to EVs.

Authorised by Dr Michelle Ananda-Rajah MP, Level 1, 261-271 Wattletree Rd Malvern VIC 3144