Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Sterle for that question because it's a very important question around how Australia approaches the massive economic transition that's going on across the world in relation to the renewable energy transition. The Albanese government has a clear and credible path to net zero and to manage and maximise the benefits of this economic transformation. Our policies need to help Australia attract investment, lift wages, grow living standards, create jobs and spread economic opportunity right around the country.

The modelling that was released by Treasury to accompany Labor's announcement on our 2035 target makes clear five key conclusions:

1. Australia can be a primary beneficiary of the global net zero transformation if we continue to take decisive action on climate change

2. Cheaper, cleaner energy will strengthen Australia's international competitiveness

3. Clear and credible climate action will lead to more jobs, higher wages and better living standards for Australians

4. Our orderly net zero plan gives businesses the clarity and certainty they need to invest in Australia with confidence

5. A disorderly transition would mean fewer jobs, less business investment, lower wages, lower living standards and higher power prices in a smaller economy.

These are the clear findings from Treasury. They, as the experts, have had a very close look, including across the world. The benefits for Australia are clear, which is why, on this side of the chamber, we are united in our approach to grabbing those economic opportunities that come, walking together and making sure that we don't miss those opportunities. The jobs and higher living standards that come with them will benefit all Australians. (Time expired)