Net Zero Economy Authority Act 2024

The Authority has the following functions:

to:

promote coordination and consistency in the design and implementation of Australian government policies, programs and plans; and

consult and cooperate with other persons, organisations and governments; and

provide reports, advice and recommendations to the Minister;

to facilitate public and private sector participation and investment in greenhouse gas emissions reduction and net zero transformation initiatives in Australia, including, but not limited to, referring matters to one or more of the entities mentioned in subsection (3);

to support workers in emissions‑intensive industries who are, or will be, affected by Australia’s transition to a net zero emissions economy:

to access new employment or other opportunities; or

to acquire skills to improve their employment prospects;

to support Indigenous persons to participate in, and benefit from, Australia’s transition to a net zero emissions economy;

to encourage, support, develop and deliver educational and promotional initiatives for the purpose of promoting an understanding of, and enabling participation in, Australia’s transition to a net zero emissions economy;

any other functions conferred on the Authority by this Act or any other law of the Commonwealth;

to do anything incidental or conducive to the performance of the above functions.

Paragraphs (a), (b) and (e) are subject to subsection (4), and paragraph (c) is subject to subsection (5).

The CEO administers Part 5 (Energy industry jobs plan). Any objectives, strategies or policies determined by the Board in respect of Part 5 must be of a general nature only (see subsection 19(3)). The Board must not give a direction to the CEO in respect of Part 5 (see subsection 41(2).

In performing the Authority’s functions, the Authority should prioritise communities, regions, industries and workers that are, or will be, significantly affected by Australia’s transition to a net zero emissions economy.

For the purposes of paragraph (1)(b), the entities are the following:

the Clean Energy Finance Corporation;

the Northern Australia Infrastructure Facility;

the Regional Investment Corporation;

the National Reconstruction Fund Corporation;

the Export Finance and Insurance Corporation;

the Australian Renewable Energy Agency;

Housing Australia.

The Authority may perform the Authority’s functions under paragraphs (1)(a), (b) and (e) only:

with respect to the executive power of the Commonwealth; or

to give effect to Australia’s obligations under the following:

paragraphs (b) and (c) of Article 4.1, and paragraph (a) of Article 4.2, of the Climate Change Convention;

paragraphs (b) and (c) of Article 10 of the Kyoto Protocol;

Articles 4.2 and 10.2 of the Paris Agreement.

The Authority may perform the Authority’s function under paragraph (1)(c) only:

to give effect to Australia’s obligations under the following:

Articles 1 and 2 of ILO Convention (No. 122);

Articles 1, 2 and 4 of ILO Convention (No. 142);

Article 6(2) of the Covenant on Economic, Social and Cultural Rights; and

with respect to the provision of unemployment benefits.

The Authority has power to do all things necessary or convenient to be done for or in connection with the performance of the Authority’s functions.

The Authority may perform the Authority’s functions both within and outside Australia.

The Authority is to act in accordance with the objectives, strategies and policies determined by the Board.