Regional CleanTech and manufacturing investment will be coordinated through a single federal government agency after legislation to create the Net Zero Economy Authority passed the Senate.
The bill passed after months of debate on Thursday, with the Greens and independents securing two amendments that add a statutory review and adjust the board’s minimum member count and composition.
The Net Zero Economy Authority (NZEA) aims to support workers affected by the closure of fossil fuel power stations and serves as a front door to investors by referring net zero projects in regional areas to government investment bodies like the National Reconstruction Fund.
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