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| Treasurer Jim Chalmers on ABC Insiders 5 November 2023 |
On 2 November Australian Treasurer Jim Chalmers outlined in a speech major direction and priorities for the Labor Government with regard to Climate Policy, Energy policy and Industry Policy.
Australia's abundance of cheap renewable energy sources gives a definite global advantage in refining and processing critical minerals, manufacturing of batteries and other storage technologies, producing green hydrogen for adding value in energy intensive metals production like green steel and green aluminium.
Here is what the Treasurer said:
To make it very clear, in making decisions about net zero industry policy we will now be guided by these tests:
- Whether Australia can be competitive in the industry, by leveraging and building up our comparative advantages.
- Whether it contributes to an efficient and orderly pathway to net zero.
- Whether it builds the capabilities and resilience of people and regions.
- Whether it improves Australia’s national security and economic resilience and supports the strategic objectives of our global partners.
- And whether it recognises the key role of the private sector and delivers genuine value for money for government.
Applying these five principles has led us to four initial priority areas. All underpinned by and dependant on abundant, cheap, reliable, renewable energy.
- Refining and processing critical minerals.
- Supporting manufacturing of generation and storage technologies, including batteries.
- Producing renewable hydrogen and its derivatives like ammonia.
- And forging green metals.
