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Invest to recover: manufacturing plan must capitalise on zero carbon goods boom

Australian Greens Leader Adam Bandt has seized on reports today that show demand for Australian goods will increasingly be put to an emissions test as Scott Morrison floats a detail-free manufacturing plan.

“Whether it’s exporting our sunlight in green hydrogen form, or zero-emissions metals, Australia is in a box seat for a burgeoning mega-industry,” Bandt said.

“Renowned greenie-leftists, Goldman Sachs, are predicting green hydrogen will become a $12 trillion dollar industry by 2050.”

“Today there are reports that Germany is already looking to Australia for green hydrogen or steel made with renewables as part of their zero carbon plans.”

“Germany is a major manufacturer. They know that they need to rethink their supply chains in order to make zero carbon goods and are moving on it right now.

The Greens have outlined, as part of their Invest to Recover plan, major government interventions to put Australia in the front row to benefit from the coming boom.

From the plan:

  • Create a $12b Manufacturing Australia Fund, which will mirror the Greens successes in creating the CEFC and ARENA and manage $10 billion of equity/finance and $2 billion in grants to support manufacturing innovation, industrial decarbonisation and relocalising supply chains
  • The development of a national procurement policy, which would require the use of set percentages of both Australian-made and zero-carbon materials on Commonwealth supported infrastructure projects (with specific thresholds to be designed in consultation with industry, unions, state and territory governments, civil society and academia)

“Scott Morrison’s ‘announcement’ today is very light on details, but it’s clear it lacks the ambition or zero-carbon focus that any manufacturing plan needs to compete.”

“Even if you are a Morrison government climate change denialist, the rest of the world is not and they’re looking for green manufactured goods. The Government’s focus must be a green manufacturing renaissance if they’re serious about getting Australia in the game," Bandt said.

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