Climate change is going to be the dominant theme of the next few decades. We need to be confronting it now by planning how we will reduce the carbon intensity of our economy. That is going to take massive investment to transform the way we generate electricity and manufacture. I was pleased to hear last week that thinking is advancing on how we will finance this transition.
In the first six months after COP26, the Climate Change Bill was tabled in parliament, the hydrogen economy roadmap was drawn up and, though the Presidential Climate Commission, a Just Transition Framework has been developed. The investment plan is giving priority to the electricity sector, including decommissioning coal-based power stations while supporting the communities affected, but also has plans for electric vehicles and a green hydrogen industry.