Sharing the Benefits: Ensuring new industries strengthen communities is a report from the Centre for Policy Development that outlines how governments can lock in benefits for the communities hosting our new industries and energy infrastructure and build the domestic supply chains and workforces of the future.
We know the net zero transition is moving too slowly. Lengthy planning approvals, supply shortages and labour constraints have all slowed progress. But to reach net zero by 2050—and stay competitive in a global economy rapidly moving away from fossil fuels—the report argues the government must directly address growing community concerns.
Sharing the Benefits outlines a framework for allocating public funding that incentivises and supports developers to deliver better community engagement, and ensures new net zero industries strengthen local and First Nations communities and workforces.
Sharing the Benefits is a report from the Centre for Policy Development that outlines how the federal government can ensure new net zero industries strengthen Australia’s communities.
With billions in public funding for the net zero transition on the table through schemes like Future Made in Australia, the report argues that all projects backed by government funding should ensure communities flourish as they undergo critical change.
Starting with tax incentives available under Future Made in Australia, it outlines a practical framework for applying the legislation’s Community Benefit Principles. To unlock higher levels of support, developers would need to demonstrate they offer secure, well-paid local jobs; apprenticeships and inclusive workforce pathways; stronger outcomes for local communities and First Peoples; and greater use of local content in supply chains. The more a project can deliver, the more support it should receive.
If developers are rewarded for doing more, we’ll see a race to the top; with better engagement, shorter approval times, and real improvements for communities.
The framework can also be extended to assess other support under the transition agenda and funding through specialist investment vehicles such as the Clean Energy Finance Corporation, the Australian Renewable Energy Agency, and the National Reconstruction Fund.
Australia’s industries and energy systems must undergo an unprecedented transition to meet the target of net zero by 2050 and compete in a changing global economy.
Progress has been too slow and community resistance is causing significant costs and delays. Many communities feel they are being asked to shoulder the costs of the transition without having a real say or seeing any tangible benefits. Pivotal to the transition’s success is the ability of governments, developers, and other stakeholders to ensure it strengthens local and First Nations communities, develops workforces and builds the new industries needed for Australia to prosper in a net zero world.
