Dr ANANDA-RAJAH (Higgins) (19:02): Australia is transitioning to net zero by 2050 through investment in low-emission and renewable energy industries. Key steps along the way are increasing renewable energy to 82 per cent by 2030 and setting an ambitious 2035 target, which will be revealed in March next year.
This is a huge change from two years ago, when the then coalition government had no plan for energy, let alone a plan for our transition. Their energy plan was then characterised by energy chaos and secrecy—22 energy policies, which have now, in a moment of clarity, birthed the nuclear frolic. We are still waiting to hear where exactly these reactors would be built, and we are none the wiser as to how much this would cost or how much Australian taxpayers would have to cough up. How much will they have to forgo, perhaps in health or education or aged care? There will have to be cuts to make this a reality. And, of course, there is that minor problem of nuclear waste!
Meanwhile, the Albanese government isn't wasting time—because there is no time to waste. We are in the teeth of the climate emergency and must get ahead, given the standing start that we inherited. The Albanese government has committed over $40 billion across two budgets to turn Australia into a renewable energy superpower. Rewiring the Nation plan will invest $20 billion to modernise our electricity grid on the east coast to enable large-scale renewable energy projects—we're talking about gigascale solar and wind to connect to this system. The safeguard mechanism will reduce 250 million tonnes of greenhouse gas emissions by 2030, the equivalent of taking two-thirds of the nation's cars off the road. There is $2 billion going towards green hydrogen manufacturing through our Hydrogen Headstart program. There is the new Critical Minerals Strategy, which will make us an indispensable part of the global race to net zero. There is $1.3 billion to establish the Household Energy Upgrades Fund. There is $1 billion towards solar panel manufacturing through the Solar Sunshot program. And there is a further $41 million in energy efficiency grants to small businesses.We're also creating 10,000 new energy apprenticeships to ensure training and jobs for the future as our economy transitions to becoming a renewable energy superpower. In addition we are giving farmers $20 million in order to help them store carbon in the soil. In fact, we have developed a sectoral plan for our agriculture industry which will help them be part of this energy transition and make a contribution.
Having set this course, we recognise that communities and certain regions, industries, people and families who have worked to power Australia for generations and who have built our wealth will be affected by this transition. If we get this right, those same communities will be among the biggest beneficiaries of this transition. The Net Zero Economy Authority is being established to ensure that these workers, industries and communities can seize the economic prize of Australia's net zero transformation and share in its benefits.
There's offshore and onshore wind; green hydrogen, a tiny molecule with big ambitions, supported by our $2 billion Hydrogen Headstart program; critical minerals processing and refinement; and novel energy sources such as biomethane, solar thermal and geothermal. But there's more from this third budget. We are unlocking more than $65 billion of investment in renewable capacity, through the Capacity Investment Scheme, by 2030. With one in three Australians homes having solar, we're investing $27 million to integrate consumer energy sources such as batteries and solar into the grid. The new vehicle efficiency standard, which has now passed after decades of inaction in this country, will save Australians around $95 billion at the bowser by 2050 and reduce transport emissions. It will also make us healthier. The government is committing $1.5 billion to manufacturing clean energy technologies, including $1 billion towards Solar Sunshot and half a billion dollars towards Battery Breakthrough.
Then, of course, there's the skills investment. The government will expand our New Energy Apprenticeships Program to include work in the clean energy sector, including in construction and advanced manufacturing. This will provide a $10,000 incentive to attract 10,000 new energy apprentices into the sector. The government will commit $30 million to turbocharge the TAFE teaching workforce for clean energy courses and $50 million to upgrade and expand clean energy training facilities. The government will invest $55 million to establish the Building Women's Careers Program to support women's participation in these key industries, including clean energy and manufacturing.
The Net Zero Economy Authority will coordinate transition activities, coordinate investments that create jobs in the regions and support workers through a transition that will span decades. This initiative is about community and people. We do not get to net zero unless we go there together. Pitting the cities against the regions, pitting one generation against another, and finger waving and preaching are not going to get us there. That's the politics of division which led to the climate wars and stagnation in this country. We don't want any of it. But providing an orderly plan which puts people at the centre and creates a pathway to secure, well-paid jobs in manufacturing, underwritten by renewable energy, is a future worth signing up to. As I said in my maiden speech, our journey to a low-emissions future will be contingent on taking our coal and gas communities along with us. We owe them much and we are, after all, the party of the Hunter and Higgins—a broad church indeed. The Net Zero Economy Authority will provide the framework and common purpose so that our transition can occur successfully.
These bills, the Net Zero Economy Authority Bill 2024 and the Net Zero Economy Authority (Transitional Provisions) Bill 2024, are about taking the country forward together. The bills establish the legislative basis for the Net Zero Economy Authority. We are also proposing amendments informed by the Senate committee's inquiry and feedback from stakeholders, including the ACTU, the Australian Industry Group and the Business Council of Australia. We want to cut red tape for employers and help them better engage with workers. We want employees and employers working together, rather than at loggerheads. We want to try a different model.
The Net Zero Economy Authority has five main functions. The first is to facilitate investment. The authority will work with project proponents, state governments, and the private and public sectors to get projects up. It will be the government's shopfront for industry and investors.
The second function is worker transition. It will support workers in emissions-intensive industries to access new employment or acquire skills to improve their employment prospects. This will include the establishment of the Energy Industry Jobs Plan to directly support employees impacted by the closure of some coal fired and gas fired power stations. We want the workers in the Latrobe Valley, Gladstone, the Hunter and all other impacted areas to be supported and not abandoned.
The third function is policy coordination. It will coordinate net zero efforts across government and key stakeholders, given that this involves energy, skills, manufacturing, resources and immigration—to name a few. It is a whole-of-government effort. The Net Zero Economy Authority is the conductor to keep the orchestra in tune.
The authority's fourth function is communications and engagement, building community confidence with the transition—no-one held back, no-one left behind. The eight-member advisory board of the Net Zero Economy Authority must include two representatives each from business and the unions and will value experience in industrial relations, economics, decarbonisation pathways, energy markets, regional development and First Nations advocacy.
We can only get to net zero if we all go there together. The transition needs to be well managed, leaving no-one behind. If we don't get this right, our mandate to transition will evaporate. It is too important to be left to chance. I commend this bill to the House.
