Kate Thwaites (Jagajaga, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Climate Change and Energy. What policies are being adopted by the Albanese Labor government to futureproof our energy network and put downward pressure on energy costs? What will this mean for Australian consumers and why is action so important?

Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Link to this | Hansard source

I thank the honourable member for her question and recognise her leadership on matters of climate change. This is the first question time that has been held since the government's Climate Change Act passed both houses of parliament and received royal assent. Of course, the important thing about the Climate Change Act is that it sends the message to investors around the world that Australia is open for business in relation to renewable energy, transmission and storage. I'm pleased to report to the House that that message has been received around the world. Last week in the United States I received indications from companies like J&J, Amazon and Google that they are considering major investments in renewable energy in this country—up to $2.9 billion worth of job-creating investment in this country. This is the importance of certainty in policy frameworks. This is the importance of one set of rules.

Part of our approach to the certainty framework is our engagement in international agreements. I heard it said yesterday that the opposition don't have any policies, which I thought was very unfair to the opposition because in some ways they over there are an ideas factory. We had one last week from the member for Hinkler. The member for Hinkler last week had the great idea of leaving the Paris Agreement. That was his suggestion for the opposition.

The opposition would take us into an elite group famous for their investment certainty and their economic robustness in the regime. This elite group that the opposition want to take us into consists of Libya, Eritrea, Iran and Yemen. They're the countries that aren't in the Paris Agreement. There are only four, but there would be five if we joined that great group of countries where they have great investment certainty in that regime.

On this side of the House, we understand that the cheapest form of energy is renewable energy. The CSIRO knows it. AEMO knows it. AEMO said, 'Renewable energy is the cheapest form of energy by a country mile.' But the opposition say, 'No, we know better.' The Paris Agreement is good enough for Russia and Saudi Arabia. It's good enough for North Korea! But it's not good enough, apparently, for the Leader of the Opposition.