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Labor pledges to turn Australia into a renewable energy superpower

4 minute read

Labor has pledged to transform Australia into a renewable energy superpower.

In his budget reply, Labor leader Anthony Albanese promised to act on climate change and “seize the chance to transform our country into a renewable energy superpower”.

Speaking on Thursday, the centrepiece of Mr Albanese’s pre-election budget reply was a $2.5 billion commitment to improve the aged care sector.

“I’m announcing Labor’s plan to put security, dignity, quality and humanity back into aged care,” Mr Albanese said.


“The global pandemic and a Royal Commission have confirmed what so many Australians already knew – our aged care system is in crisis,” he continued.

But Mr Albanese also promised to “end the climate wars”.

Accusing the Liberal government of “seeking to divide”, he vowed to bring people together and deliver real policy reform.

Climate change is one front he plans to deliver on.

“Climate change is here, and its consequences are devastating,” Mr Albanese said.

Labor’s Powering Australia plan, unveiled late last year, aims to achieve an economy-wide emissions cut of 43 per cent by 2030, and net zero emissions by 2050.

Speaking on the Today Show on Friday, Albanese said his climate change policy will create 604,000 new jobs by 2030.

“It is fully costed, out there for all to see. And that will result in $52 billion of additional private-sector investment. It will result in a growth because of cleaner, cheaper energy powering high-value manufacturing,” he said.

Labor’s climate plan was previously welcomed as “sensible and workable” by the Business Council of Australia.

“Labor’s plan paints a path towards net zero by helping to give businesses the certainty they need to get on with the work they’re already doing and do even more,” said Business Council CEO Jennifer Westacott said in December.

“Targets aren’t enough on their own, so it is great to see Labor setting out a plan to get there with a focus on more jobs, more opportunities and stronger regions.”

Also on Thursday, Mr Albanese pledged to establish a Disaster Ready Fund, “because Australians deserve a plan to mitigate the ever-intensifying impact of natural disasters”.

Moreover, he spoke about revitalising Australian manufacturing and powering that manufacturing with Australian made renewable energy.

“Exporting resources will always be important to Australia’s economy.

“But we should also use our resources – like our minerals and rare earths – to make products like batteries here, instead of just shipping them offshore and importing the finished goods.”

Australians are likely to head to the polls in May, with climate change and the cost of living expected to be key issues for voters.

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic

Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.