The Australian Government has pressed go on the Future Made in Australia (Guarantee of Origin) Bill 2024 and its two supporting bills.
Passed on 28 November 2024, the bills establish the voluntary Guarantee of Origin (GO) scheme - a certification scheme designed to authenticate low-emissions products and support renewable electricity that will help Australian producers remain competitive in new and emerging markets. Australian producers will be able to credibly present and account for the low-emissions reality of their products.
"Our $22.7 billion commitment to a Future Made in Australia package will help Australia unlock private investment at scale in net zero industries, including renewable hydrogen," said Minister for Climate, Change, Energy, the Environment and Water, Chris Bowen.
"We're making sure Australians will benefit now from the opportunities afforded by the emerging net zero industries. We passed legislation to establish the Net Zero Economy Authority so that regions, workers and communities are supported to manage the impacts and share in the benefits of this transition."
"By building the industrial capability to solve national challenges – like the transition to net zero – we will create secure and meaningful jobs in our regional communities as power stations close and industries change," said Senator Tim Ayres, Assistant Minister for a Future Made in Australia.
“The establishment of the Net Zero Economy Authority and the Australian Government's Future Made in Australia plan provides us with an unprecedented opportunity to strengthen our regional centres."
Across Australia, governments, businesses and communities are working together to reach net zero emissions by 2050. The Authority is responsible for ensuring that Australia’s regions and workers are supported through, and benefit from, the transition to a net zero emissions economy.
