Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

ALBANESE (—) (): I thank the member for Fremantle for his question, and I thank him for his long-term commitment to advancing action on climate change and the environment. Our Powering Australia plan released in December last year was the most comprehensive plan ever put forward on these issues by an opposition and, indeed, was more comprehensive than any plan put forward by the former government over the previous 10 years. It understood that the cheapest form of new energy is renewable energy. We understood as well, working with the Business Council of Australia, the Australian Industry Group, the Australian Chamber of Commerce and Industry and the National Farmers Federation, that what business wanted was investment certainty going forward. That investment certainty will encourage them to be able to look beyond just the short-term horizon towards the five-, 10-, 20- and 30-year cycles that you need when it comes to investment in new clean energy.

But we also understood the opportunity that comes with that. This is about using that cheaper, cleaner energy, working with the National Reconstruction Fund, to support existing industries to transition but also supporting new industries to grow—new industries in advanced manufacturing, new industries making more things here and making our country more resilient.

We know from the pandemic that Australia's very vulnerable if we are just at the end of supply chains, so we have to come up with plans where we make more things here. The key to that is cheaper energy. The key to cheaper energy is cleaner energy. We know that that's the case. That's why, using the safeguard mechanism and the other parts of the plan—the electric vehicle tax cut that we have already put through the House of Representatives and the plan for community solar batteries—the plan across the board is to work with those businesses which are high emitters to make sure, over a period of time, they lower their emissions consistent with the objective of net zero. It's been well received as well.

There is one thing that some of the critics of climate action say that is correct, which is that Australia can't do things just by ourselves. That's why Australia's out of the naughty corner and back negotiating and talking with our friends in the United States, our friends in the region, our friends in Europe and our friends in the Pacific, because we understand that the challenge of climate change is also an extraordinary opportunity to grow the economy and grow jobs. That's why, when this legislation passes both houses of parliament, it will be a great day for Australia.

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