The Carbon Market Institute (CMI) has welcomed the federal government’s newly announced Net Zero Authority as a vital development in properly resourcing and guiding the significant structural shift required for the transition to a net zero emissions economy.
Leading into next week’s federal budget, CMI CEO John Connor said the government’s investment in a formal transition authority was an important reminder of the significant task ahead in managing a just and inclusive transition for workers and communities.
“Businesses are already grappling with the challenges and opportunities of a net-zero economic transition already underway, however there are social, employment, skills and regional community issues that will need to be carefully managed to ensure the best outcome for Australia and for our climate.”
“CMI and others have long called for a formal transition authority that can work across governments in developing develop effective incentives, regulations, and workforce support programs that can best guide investment in evolving existing industries, and in the industries of the future. The Net Zero Authority will reflect this mandate.”
“This is a vital piece of the puzzle in guiding the economic transition and working to properly resource this significant task for our economy and to support those affected on different levels.”
“CMI is supportive of the Net Zero Authority’s broad remit and looks forward to engaging further with the federal government on implementation details,” he said.
The Government intends to establish the Agency from July 1 this year, initially housed in the Department of Prime Minister and Cabinet.
About the Carbon Market Institute
The Carbon Market Institute (CMI) is a member-based institute accelerating the transition towards a negative emissions, nature positive world. It champions best practice in carbon markets and climate policy, and its over 150 members include primary producers, carbon project developers, Indigenous organisations, legal, technology and advisory services, insurers, banks, investors, corporate entities and emission intensive industries. The positions put forward constitute CMI’s independent view and do not purport to represent any CMI individual, member company, or industry sector.
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