Beyond Zero Emissions welcomes manufacturing pre-budget announcements by Prime Minister

Beyond Zero Emissions welcomes funding announcements made today by Prime Minister, Scott Morrison to modernise manufacturing and support the recycling and clean energy sectors. A significant number of these initiatives are set out by the Beyond Zero Emissions (BZE) Million Jobs Plan.

The BZE Million Jobs Plan has highlighted the potential for electrified industry, powered by low-cost renewables to boost Australia’s manufacturing capability in many of the priority areas identified by the Prime Minister, including:

• Resources technology and critical minerals processing;
• Food and beverage;
• Medical products; and
• Recycling and clean energy.

Eytan Lenko, Chair of Beyond Zero Emissions said:

“Upgrading and electrifying manufacturing infrastructure would be an excellent outcome for the Modern Manufacturing Initiative and the Manufacturing Modernisation Fund. This will allow manufacturers to increase their international competitiveness through access to low-cost renewable energy.

“This week, BZE briefed investors representing an estimated $150 billion in private capital on the investment potential of renewable powered manufacturing precincts in existing manufacturing hubs around Australia.

“These manufacturing projects, which represent a small fraction of the potential for clean manufacturing in Australia, showcased over $25 billion in private investment. Recent independent economic modelling of BZE’s Million Jobs Plan by renowned economist, Chris Murphy, showed renewable powered manufacturing investment is key to stimulating economic recovery.

“Australia could create over 50,000 new on-going manufacturing jobs by 2025 with renewable energy-powered manufacturing, identified within BZE’s Million Jobs Plan.”

Beyond Zero Emissions is one of Australia’s most respected energy think-tanks. We produce independent research that shows how Australia can thrive through a transition to a zero-emissions economy.

The Million Jobs Plan maps out a bold job creation framework through:

• The acceleration of new energy transmission and storage projects to unleash an abundance of cheap, clean energy for manufacturing and position Australia a true global renewable energy superpower.
• Implementing a national housing retrofit program targeted at eliminating bills for 2.5 million low-income households.
• Building 150,000 new zero-energy social housing dwellings.
• Building electrified transport infrastructure such as electric bus fleets with localised and regional manufacturing.