Net Zero agency outlined
The Albanese government is set to establish the National Net Zero Authority (NNZA), an agency that will help transition the country away from polluting fossil fuels.
Outlined last week, one of the NNZA's top priorities will be to secure jobs for workers in emissions-intensive sectors, including iron ore, steel, aluminium, chemicals, and liquefied natural gas, by providing re-skilling and transitional support.
In addition, the NNZA will coordinate programs and policies to support regions and communities, and connect investors and companies with net-zero transformation opportunities.
The authority is expected to work with existing regional bodies, unions, industry, investors, First Nations groups, and others to provide a landing pad.
The NNZA will be led by an independent chair supported by an advisory board, with an interim launch set for July 1.
The government has set aside $23 million for the first year, with funding increasing to $83.2 million over four years.
Analysts say that the NNZA's success will depend on how well it listens to regional communities and facilitates the transition.