Greens Leader Advocates for Ban on New Coal and Gas as Condition for Tax Incentives on Green Hydrogen
Key Ideas
  • Greens leader Adam Bandt supports tax incentives for green hydrogen and critical minerals industries for creating high-quality jobs.
  • Bandt emphasizes the need for a ban on new coal and gas to avoid past mistakes and ensure the transition towards green industries.
  • The coalition opposes the proposed $13.7 billion production tax credits for hydrogen and critical minerals citing concerns over taxpayer money usage.
  • Labor argues that tax credits are essential for industry success and to position Australia as a renewable energy superpower.
The debate over tax incentives for green hydrogen and critical minerals in Australia has intensified with the Greens advocating for a ban on new coal and gas as a prerequisite. Greens Leader Adam Bandt is supportive of the potential of green hydrogen and critical minerals industries to create high-quality jobs. However, the party is awaiting the draft legislation and seeks guarantees such as public ownership of critical industries to prevent issues seen in the gas sector. Bandt stresses the importance of not allowing labor and investment to be diverted to new coal and gas mines beyond 2050. On the other hand, the coalition, including Shadow Treasurer Angus Taylor, opposes the proposed production tax credits, equating them to ineffective spending of taxpayer money. Treasurer Jim Chalmers from Labor defends the tax credits as crucial for industry success and Australia's transition to a renewable energy powerhouse. The political standoff highlights differing approaches towards supporting emerging green industries and navigating Australia's energy transition.
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