NZEA Board Communique May 2025

The Net Zero Economy Authority (the Authority) Board held its fourth meeting, in Canberra and was joined by the newly appointed Minister for Industry and Innovation and Minister for Science, Senator the Hon Tim Ayres. The Minister and Board exchanged views on the Authority’s priorities for this term of government.

The Board reviewed the declared interests of members and confirmed there were no conflicts with matters under consideration at the meeting. The Board discussed conflict of interest management strategies and agreed the Chair, with support from the Authority will continue to manage potential, actual or perceived conflicts if and when they arise. 

The CEO provided an update on the work of the Authority, including work under the Energy Industry Jobs Plan in relation to the forthcoming closure of the Torrens gas-fired power plant, preparations for the closure of Eraring power station, and the status of work to support regions in transition, including the Hunter, Latrobe Valley and the Upper Spencer Gulf. 

The Board discussed the value and opportunity to learn from experiences with net zero transition internationally and asked that the Authority establishes links with comparable entities in other countries.

The Board discussed the 2024-25 Corporate Plan, which it will finalise out-of-session following consultation with the Minister, for publication in June 2025. The Board also noted that the 2025-26 Corporate Plan is due for release by 31 August 2025 and agreed to discuss this at its next meeting.

The Board received an update from the Chair of the Audit and Risk Committee.

The Chair informed the Board about the first meeting of the Stakeholder Panel, which he chaired on 30 April 2025. The Board noted the wide-ranging interests from Panel members in the work of the Authority and supported the Chair’s commitment to also meet with each of the Panel members bilaterally. The Board agreed to meet with the Panel as part of its next meeting in July to discuss the Authority’s vision and missions, and associated work plans, as well as barriers to investment in the net zero transition.

The Board discussed how the Authority should go about its work to facilitate investment and job creation to support orderly net zero transition in key regions. It agreed the Authority should base its work on a clear understanding of the needs, opportunities and priorities of each key region, and endorsed a process to build this understanding, in consultation with stakeholders in key regions. 

The Board agreed its next meeting will be held in early July in Melbourne.