Net Zero Authority Passes Senate, Labelled a ‘Union Wish List Item’

A new law to establish a net zero authority in Australia has passed the Senate with the support of Labor and the Greens. The Coalition, however, opposed the bill.
The Net Zero Economy Authority Bill 2024 establishes a new government entity to oversee the transition to a net zero economy in Australia.
Under the legislation, the new authority will have the “mandate, functions, and powers” to ensure that “Australia’s transition to net zero emissions is orderly and positive.”
The government entity is predicted to cost $57.5 million in the 2025 financial year, followed by $54.1 million in 2026, and $52 million in 2027.
The government said that the tax-payer-funded authority aims to help coordinate public and private investment in net zero.
They argued that the Net Zero Economy Authority is “a long-held union wish list item” that masks itself as being an authority for the regions and the net zero transition but is “really another Canberra bureaucracy.”
The Coalition contended that the net zero authority mimicks the roles of existing entities like the Clean Energy Finance Corporation and the Australian Renewable Energy Agency.
Further, they raised concerns the bill “gives unions access to personal information of the employees of closing coal and gas-fired power stations, as well as the personal information of the employees of the businesses in commercial relationships with closing coal and gas-fired power stations.”
The Opposition’s amendments instead aimed to centrally plan employment opportunities for workers affected by the closing of coal and gas-fired power stations.
Amid the closures, they highlighted that zero-emissions nuclear technology will provide well-paid employment opportunities and economic security for generations in rural, regional, and remote communities.
The Australian Manufacturing Workers Union, who had been campaigning for over 12 months for this legislation, expressed their approval on social media.
“After over a year of pushing for this, workers in our energy regions will finally have a voice in shaping their future. This is a huge step towards a net-zero economy & more secure, sustainable jobs.”
The Australian Council of Trade Unions (ACTU) also hailed the passing of the legislation, emphasising that it will support energy workers, their families, and their communities as Australia transitions to a “net zero future.”
“Passage of the Bill through the Senate represents the culmination of more than a decade of union movement campaigning for the establishment of a federal authority to support workers and communities to thrive through the clean energy transition,” the ACTU said.
“The establishment of the Net Zero Economy Authority, led by Reserve Bank Board Member Dr Iain Ross, will deliver a raft of new support measures for workers in coal and gas-fired power plants with announced closure dates—including paid retraining, redeployment, and financial assistance.”
Meanwhile, the Australian Council of Social Service (ACOSS) also welcomed the legislation, noting the Senate had agreed to amendments that include First Nations representation on the board.
Prime Minister Anthony Albanese said passage of the legislation marked an “important step forward’ in the nation’s successful transformation to a net zero economy.
Climate Change Minister Chris Bowen added, “It will be a one-stop shop for new industries coming to regional Australia to create jobs and investment and for the workers already there to prepare for the jobs for the future.”