Business Insight

Nearing Net Zero – Future Made in Australia Act

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    Ahead of the Federal budget, the Albanese Government announced a suite of incentives and subsidies for advanced manufacturing and clean energy projects on 11 April 2024. These incentives and subsidies are being packaged through the Future Made in Australia Act.

    The Act aims to revitalise manufacturing in Australia by turbocharging clean manufacturing and investment across solar panel manufacturing, green hydrogen production, low emission steel manufacturing and rare earth mineral mining.

    This reflects a wider, global trend of public sector involvement in the traditionally private sector renewable and low-emissions technology supply chain with the Government citing competition with foreign renewable investment packages as a key driver.

    Tune into the latest Nearing Net Zero episode as Dan Brown and Elena Lambros unpack what the Act aims to achieve, the drivers for implementation, its scope and the markets commentary.

    This publication is a joint publication from Ashurst Australia and Ashurst Risk Advisory Pty Ltd, which are part of the Ashurst Group.

    The Ashurst Group comprises Ashurst LLP, Ashurst Australia and their respective affiliates (including independent local partnerships, companies or other entities) which are authorised to use the name "Ashurst" or describe themselves as being affiliated with Ashurst. Some members of the Ashurst Group are limited liability entities.

    The services provided by Ashurst Risk Advisory Pty Ltd do not constitute legal services or legal advice, and are not provided by Australian legal practitioners in that capacity. The laws and regulations which govern the provision of legal services in the relevant jurisdiction do not apply to the provision of non-legal services.

    For more information about the Ashurst Group, which Ashurst Group entity operates in a particular country and the services offered, please visit www.ashurst.com.

    This material is current as at 13 May 2024 but does not take into account any developments after that date. It is not intended to be a comprehensive review of all developments in the law or in practice, or to cover all aspects of those referred to, and does not constitute professional advice. The information provided is general in nature, and does not take into account and is not intended to apply to any specific issues or circumstances. Readers should take independent advice. No part of this publication may be reproduced by any process without prior written permission from Ashurst. While we use reasonable skill and care in the preparation of this material, we accept no liability for use of and reliance upon it by any person.

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