What’s in the Budget for Climate Change

Sustainability

From the campaign trail to the recent delivery of the 2022-23 Federal Budget, the Australian Labor Party (ALP) have been vocal about their significant investment in climate response plans. This was the first Budget since Australia has committed to achieve net-zero carbon emissions by 2050 and the first opportunity to prove to Australian communities how seriously they’re taking the imminent threat of climate change.

What’s in the Budget for Climate?

Machinery of Government

Beginning with the Machinery of Government, the ALP have created the Department of Climate Change, Energy, Environment and Water, merging the previous Department of Industry, Science, Energy and Resources, and the Department of Agriculture, Water and the Environment. The purpose of this self-proclaimed ‘super-ministry’ is to deliver on the climate change and energy agenda to lead Australia’s response to the climate emergency.

The Climate Change Authority have also been reinstated with a $47 million investment, to provide transparency on Australia’s progress and advise the Federal Government with credible, science-backed direction on future emissions targets.

From just $2 billion committed to climate action from the previous Morrison Government’s March Budget to nearly $25 billion from the Albanese Government, Labor has now set a baseline for future investments to accelerate the energy transition towards sustainable, clean industries. There are a number of grant opportunities anticipated to open for eligible businesses, local and state governments and community organisations from 2022-23.