Zali Steggall (Warringah, Independent) Share this | Hansard source

by leave—I move amendments (1) to (11) on the sheet revised 15 August 2024, as circulated in my name, together:

(1) Preamble, page 2 (lines 16 to 17), omit "economic resilience and security", substitute "economic and climate change resilience and security in a net zero economy".

(2) Clause 3, page 4 (line 12), omit "economic resilience and security", substitute "economic and climate change resilience and security in a net zero economy".

(3) Clause 3, page 4 (line 33), at the end of the clause, add:

and; (d) to ensure that the National Interest Framework and Future Made in Australia support are consistent with the goal of limiting global warming to 1.5°C and achieving net zero emissions by 2050.

(4) Clause 4, page 5 (lines 1 to 24), omit the clause, substitute:

4 Simplified outline of this Act

This Act establishes the National Interest Framework, a framework to:

The National Interest Framework consists of the net zero transformation stream and the economic and climate change resilience and security stream.

The Minister may, after consulting appropriate Ministers, direct the Secretary to conduct a sector assessment. A sector assessment is an assessment of a sector of the Australian economy conducted for the purpose of analysing the extent to which the sector aligns with the National Interest Framework in one of those streams, as well as opportunities to address barriers to private investment, in the national interest, in relation to the sector.

A person or body deciding whether certain support (known as Future Made in Australia support) should be provided by the Commonwealth, a Commonwealth entity or a Commonwealth company must have regard to the community benefit principles. Such support may include a grant, loan, indemnity, guarantee, warranty, investment of money or equity investment.

An applicant for, or recipient of, Future Made in Australia Support must have a Future Made in Australia plan in effect in the circumstances prescribed by rules made under this Act.

(5) Clause 7, pages 8 to 9 (lines 24 to 8), omit "economic resilience and security stream" (wherever occurring), substitute "economic and climate change resilience and security stream".

(6) Clause 7, page 9 (line 11), omit "economic resilience and security", substitute "economic and climate change resilience and security in a net zero economy".

(7) Clause 8, page 9 (line 27), omit "economic resilience and security", substitute "economic and climate change resilience and security in a net zero economy".

(8) Clause 8, page 9 (after line 30), after subclause (1), insert:

(1A) A sector assessment must also:

(a) include analysis of the contribution by the sector to Australia's greenhouse gas emissions reduction targets and net zero transformation; and

(b) consider the direct emissions impacts of operations at scale by the sector; and

(c) consider the decarbonisation potential in global supply chains.

(9) Clause 10, page 13 (after line 8), after subparagraph (3)(a)(iii), insert:

(iiia) ensuring that First Nations communities can participate in and benefit from Future Made in Australia support; and

(iiib) ensuring that recipients of Future Made in Australia support have the free, prior and informed consent of relevant First Nations communities; and

(10) Clause 10, page 13 (after line 13), at the end of paragraph (3)(a), add:

(vi) promoting the achievement of Australia's greenhouse gas emissions reduction targets, including by investing in the lowest emissions intensity operations and technologies available to the sector; and

(vii) considering and incorporating climate adaptation; and

(viii) requiring the use of best available energy efficient and low or zero emission technologies, materials and fuels; and

(11) Page 15 (after line 17), after clause 14, insert:

14A Information that must be made publicly available

(1) The Minister must cause the following information to be made publicly available:

(a) a copy of each annual report given to the Minister under section 14;

(b) details of application processes for Future Made in Australia support;

(c) details of Future Made in Australia support provided.

(2) Information made publicly available under subsection (1) must not include:

(a) confidential commercial information; or

(b) personal information (within the meaning of the Privacy Act 1988); or

(c) information the disclosure of which is prohibited by or under another law of the Commonwealth; or

(d) information that should not be disclosed because it would be against the public interest to do so.

This is important. Whilst I support this bill, it can go further and be much clearer. A future made in Australia is vital for our future. I do support the intent of this legislation, but we must be very clear about the detail. The world is decarbonising, with demand growing for commodities and products that will enable global decarbonisation. Australia, with its abundant natural resources and capacity for innovation, can capitalise on this demand and strengthen our economy through green exports. While the opportunities are great, the opportunity cost is even greater. By failing to seize this opportunity to develop green exports, the world will decarbonise, and demand for our traditional commodities of coal and gas will decline, undermining our economy. I acknowledge that. So we need to be very clear, when we say 'a future made in Australia', just how we are going to deliver the intention and the goal that is stated.

The policy is welcome, but it must be central to and the cornerstone of our economic policy for decades to come. It must be clear what it is aligned to, and that is a net zero world—clean energy, clean resources and clean technology. That is vital. We must play to our natural advantage, support both existing and new players and ensure funding is targeted and fiscally responsible to ensure a return on investment. It must also be focused on decarbonising our own domestic operations and enable global decarbonisation.

The amendments that I moved today focus on ensuring that decarbonisation remains the focus of this Future Made in Australia policy. The government has considered my amendments, and I thank the Treasurer and his team for the discussions that we've had in that respect. I believe part of one of my amendments will be offered up as part of a government amendment, which will address some concerns but not all of the concerns that I've expressed. I understand the government will adopt, in part, one of my amendments, which is in respect to First Nations communities and traditional owners being able to participate in and share the benefits of the net zero transition. This is important, and I welcome this move.

However, I understand they're not going to accept the amendments around making sure emissions reduction is at the core of a future made in Australia. They believe it's already implicit in this bill, but, as we see too often in this place, there is no such thing as being implicit in legislation. It must be explicit. Specifically, the amendments I've moved to the preamble and objects of this act make reference to the Paris Agreement in keeping global warming to 1.5 degrees of warming. We must ensure an investment of the scale of Future Made in Australia is in line with that commitment; it must be linked to that.

The current bill considers decarbonisation and the net zero economy considerations in only one stream, with the second stream referring to economic resilience and security. But you cannot have economic resilience and security unless you are operating in a net zero economy. Therefore, my amendments expressly state that support under this stream is for economic resilience, climate resilience and security within a net zero economy. These amendments will not only safeguard against the Future Made in Australia supporting fossil fuel projects, which absolutely should not happen, but also ensure that any support under the legislation, whether it be for medical manufacturing or defence manufacturing, is given to a project and business aligned with net zero goals.

My amendments also mean that sector assessments must take into account direct emissions and decarbonisation potential, recognising that some projects, such as critical minerals value-adding, may add to Australia's emissions but, ultimately, lead to a substantial net decrease in emissions over their life cycle through the decarbonisation that they will enable—for example, electric vehicles and batteries. We must integrate decarbonisation in every aspect of legislation, especially when we are talking about the substantial spending of public money.

I commend the amendments to the House.

See this speech in context