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Net Zero Economy Authority
Australian federal government authority From Wikipedia, the free encyclopedia
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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]
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History
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]
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Functions
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
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
References
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