A Shorten Labor Government will deliver the jobs of today and create the jobs of tomorrow by establishing a Strategic Industries Taskforce to ensure Australia has a plan to harness the opportunities in the renewable energy sector.

The renewable energy and energy storage industries present an enormous economic opportunity of the next several decades.

Australia needs a clear strategy to take advantage of this shift – both to address the challenges posed by a changing climate, and to harness the opportunities for our businesses and industry. 

The Strategic Industries Taskforce will undertake in-depth engagement with emissions intensive, trade exposed industries and identify options to support their future competitiveness, to ensure Australia has a clear plan for the future.

The Taskforce will engage with individual firms, peak bodies and research groups to explore the specific challenges and opportunities in each industry, and systematically review both the domestic and global markets they operate within.

This would include:

• Delivering targeted assistance to enable firms to invest in energy efficient capital equipment and low emissions technologies and invest in processes and products to reduce their carbon emissions.
•  Investing in science and research to ensure we are in a position to create and commercialise the next wave of innovation in renewables and clean technology.
• Coordinating existing government programs to assist in the transition, including tertiary and vocational education.

Labor will also establish a Strategic Industries Reserve Fund with an initial funding profile of $300 million over three years from 1 July 2017 to 2020, to support emissions intensive industries modernise and transition to clean energy.

This Fund will support the ongoing competitiveness of our strategic industries during Australia’s transition to a low-carbon economy, and would be one of the mechanisms for delivering on the recommendations of the Strategic Industries Taskforce.

The Strategic Industries Taskforce will also investigate support for affected workers in emissions intensive regions, targeted assistance to modernise and invest in low emissions technologies, additional research and development, new market identification and measures to improve efficiency and productivity.

In keeping with Labor’s emphasis on innovation across government as well as in the private sector, the fund would seek to leverage new kinds of government/industry partnerships and innovative financing models.

We will also work with local TAFEs, universities and chambers of commerce on employment and retraining programs to assist communities through Australia’s transition to a cleaner, more sustainable economy.

This is one part of Labor’s Climate Change Action Plan to ensure our country and economy are prepared for the future.

The jobs of the future need a plan for the future – only Labor has a plan to harness climate change and drive Australia’s future economy.

TUESDAY, 28 JUNE 2016