Media release: Safeguard delivers certainty on journey to net zero 30 March 2023

The Energy Efficiency Council (EEC) today congratulated Parliament on passing the reforms to the safeguard mechanism introduced by the Albanese Government, as the first step on the road to clean, prosperous, net zero-ready industry in Australia.

EEC CEO Luke Menzel said the safeguard mechanism would play a crucial role in decarbonising Australian industry and preparing it to thrive in a net zero future.

“The reforms to the safeguard mechanism provides clarity and purpose to the decarbonisation journey before Australian industry. It is the certainty business has been crying out for,” Mr Menzel said.

“Now it is time to get on with the job. Meeting our emissions reduction targets is a big task, but the earlier we start, the easier and cheaper the transition will be. And energy management is going to be one of the best ways for these businesses to meet their obligations.”

However Mr Menzel noted more needed to be done for industry not covered by the safeguard mechanism.

“There are many smaller energy intensive businesses that have big energy savings opportunities. Now these reforms are finalised, its important we find ways to support smaller manufacturers and food processors that need that targeted support to cut costs and emissions through smarter energy management,” he said.

“In this new landscape, working with our most emissions-intensive industries to decarbonise as quickly as possible is the best way to secure their long-term competitiveness.”

Mr Menzel hailed the spirit of compromise that characterised the passage of the Bill.

“To get to net zero by 2050, we need everyone working together to build wins for the climate and for our economy. By cooperating and delivering a solid framework for reducing emissions, Australia will be a better, cleaner economy in ten years. And that’s a win for everyone.”

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Tim Fisher, Head of Engagement
0414 893 313