8 June 2023

Australia and New Zealand to bolster economic opportunities of clean energy transformation


Joint media release with
The Hon Chris Bowen MP
Climate Change and Energy Minister

Australia and New Zealand will work closer than ever before to maximise the economic opportunities of the net zero transformation and accelerate climate action across the Indo‑Pacific.

Treasurer Jim Chalmers and Minister for Climate Change and Energy Chris Bowen, with New Zealand Minister for Finance Grant Robertson and New Zealand Minister for Climate Change James Shaw, signed a joint statement in Wellington today and agreed to:

  1. Co‑ordinate efforts to increase electric vehicles (EVs) in the Australasian market, including collaborating on accelerating the uptake of zero emissions vehicles in government fleets, and improving charging infrastructure.
  2. Support development of the internationally aligned Guarantee of Origin Scheme, to track and verify emissions associated with hydrogen and renewable electricity, including exploring options for adoption of Australia’s Guarantee of Origin Scheme in New Zealand.
  3. Establish a Net Zero Government Working Group to support decarbonising public services, climate‑related disclosures and sustainable procurement.
  4. Align sustainable finance frameworks and tools across the Tasman to enhance interoperability and support businesses operating across the region.
  5. Collaborate on efforts to reduce and prevent greenwashing and strengthen public sector leadership on sustainable finance.

By working together to seize opportunities and tackle the challenges of the clean energy transformation, our two nations will deliver real benefits for our communities.

Our Guarantee of Origin Scheme will help underpin confidence in clean energy markets, including hydrogen and other low‑emissions products.

New Zealand’s commitment to explore adoption of Australia’s Guarantee of Origin Scheme reiterates Australia’s renewed climate credibility, and that Australia is doing what is needed to seize economic and trade opportunities in cleaner, cheaper energy.

The Albanese Government is improving the affordability, supply and uptake of EVs through Australia’s first National Electric Vehicle Strategy – which delivers EV tax cuts and a future Fuel Efficiency Standard.

Our renewed collaboration with NZ will work to combine our nations’ purchasing power to support the supply of even cheaper EVs in our region’s market, including in government fleets, which are a critical enabler of the second-hand market.

At COP27, our countries joined the United States to launch the Net-Zero Government Initiative – the Net Zero Government Working Group will be a platform to share our knowledge and learn from others in our region and presents an opportunity to engage with Pacific countries and support regional efforts to reduce emissions.

Australia and New Zealand have agreed to work together to crack down on greenwashing and align our approaches to sustainable finance frameworks.

Ensuring our financial systems are aligned with our net zero ambitions will be critical to drive our respective mitigation and adaptation ambition.