Jerome Laxale (Bennelong, Australian Labor Party) Share this | Hansard source

Whoops! I let the plan out! I said the quiet part out loud! This bill is vital for ensuring that the benefits of our renewable energy revolution are shared widely across Australia, particularly in regional and remote areas. By fostering local ownership and participation in renewable energy projects, this bill will help build stronger, more resilient communities and create new economic opportunities in areas that have traditionally relied on industries like coalmining and agriculture. As global and local demand for clean energy grows, so too will the demand for technologies and materials to make that possible. By positioning Australia at the forefront of this shift, we are ensuring that our economy remains vibrant and competitive for decades to come.

To be a true global leader in renewable energy, Australia must also invest in innovation. This means supporting research and development in emerging technologies like hydrogen production, energy storage and grid integration. We have the potential to be the world leader in these areas, and this bill provides the necessary support to ensure that our researchers and innovators have the resources they need to develop the next generation of technologies.

Central to this bill is the National Interest Framework, which is designed to align economic incentives with our national climate goals. This framework identifies sectors where Australia has a genuine competitive advantage in the net-zero economy or where economic security imperatives demand domestic capability. By legislating this important National Interest Framework, we are providing the certainty and stability that investors need to commit to large-scale projects that will drive our transition to net zero. Legislating this framework will provide increased stability. The National Interest Framework will ensure that our investments are directed towards sectors that will provide the greatest economic and, importantly, the greatest environmental returns. By identifying and prioritising these sectors, the framework will help to streamline government decision-making and reduce the risks of investment in these critical areas. This is particularly important in the context of the global energy transition, where time is of the essence and competition for capital is intense.

Another key component of this bill is the community benefits principles. These principles ensure that the investments made under the Future Made in Australia plan will deliver tangible benefits to local communities. This includes promoting and providing secure and well-paid jobs, fostering inclusive workforce development and strengthening our domestic industrial capabilities.

We are committed to ensuring that the benefits of this transition are shared broadly, especially in communities that have been historically dependent on traditional, fossil-fuel heavy industries. The renewable energy sector, in particular, stands to benefit from these principles. We can expect significant job creation in regions such as the Hunter Valley in New South Wales and regions in Central Queensland, where the transition to clean energy will bring new opportunities for workers. This bill's focus on training and skills development will ensure that these workers are prepared to take on these new roles, helping to build a more skilled and inclusive workforce. The emphasis on inclusivity is also critical, ensuring that all Australians, regardless of their background, have access to the opportunities created by the transition to a net zero economy.

This Future Made in Australia plan is a critical tool in our fight to take action on climate change. It's part of our government's broader strategy to achieve net zero emissions by 2050, as outlined in our commitments under the Paris Agreement, which are testament to our recognition of the urgent need to address climate change. By focusing on renewable energy and clean technologies, this bill will help Australia meet its emission reduction targets whilst also driving economic growth. The science is clear. To avoid the worst impacts of climate change, we must drastically reduce our carbon emissions. By investing in renewable energy, electrification and energy efficiency, this bill will help decarbonise key sectors of our economy such as electricity generation, transport and industry.

This bill supports the development of sectors that are crucial to this transition, such as electrification, energy efficiency and renewable energy integration. The amendments to the Australian Renewable Energy Agency Act will enable the agency to better support the government's renewable energy objectives, including initiatives like the Solar Sunshot program and the Battery Breakthrough Initiative. These programs are essential for reducing Australia's reliance on fossil fuels and for transitioning to a clean energy future.

The statutory funding provided and proposed under this bill will secure the natural resources needed to support these programs over the coming years. This funding will give industry and investors the certainty they need to develop projects of the scale and duration necessary to meet our climate targets. This will send a strong signal to the world that Australia is serious about leading our transition to net zero.

It's important to recognise that the transition is not just about reducing emissions; it's about creating a more sustainable and resilient economy. By investing in clean energy technologies and renewable energy, we're not only addressing the climate crisis but we're building a more robust economy that is better equipped to withstand future shocks. This is the essence of what this bill is all about. It's a vision for a strong, sustainable and resilient Australia. It's a bill that will enhance Australia's economic resilience, secure our place as a global renewable energy superpower and drive our transition to a net zero economy.

We can't continue to be a country that just digs up critical minerals from the ground without processing them onshore. We should be building batteries here, we should be building solar panels here, we should have green hydrogen investment so we can export it to the world. This is what this bill will help unlock, which will help us to engage with our region so that we can drive our own electricity generation emissions down and we can drive our industry emissions down. We can then take that know-how across the world to our key trading partners and encourage them to reduce their emissions as well. We should be able to lead the way here and be part of the global energy transition. That's what this Future Made in Australia Bill is all about.

This isn't just about investing in our economic future. We are taking decisive action on a sustainable environment and sustainable manufacturing for generations to come. We hear those opposite talk down manufacturing in this country and give this government lectures about what can be made here and what can be built here, yet they spent the best part of a decade driving manufacturing out of this country including driving out our car manufacturers. They'd turn up with their press releases in their high-vis taking photos with manufacturers but not actually back bills to support them like this one or like the National Reconstruction Fund. We will not sit here idle for another 10 years and miss the opportunities that the global transition to renewable energy will give us.

Debate interrupted.

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