Recent catastrophic floods and bushfires demonstrate a frightening future if we do not get to net zero greenhouse emissions soon.

All aspects of the economy and society must change, with energy a priority. Jurisdictions around the world are greening their energy supply, including NSW and this is driving down demand for thermal coal. While this is good for the environment, there are regional communities whose coal dependence could cause economic shock if the government doesn’t provide early transition investment, planning and coordination.

Ahead of the last election and through the inquiry I chaired, I called for a transition authority for coal dependent communities and the government has now legislated the first step through a new Royalties for Rejuvenation Fund. The fund can inject new investment in these regions to attract jobs and provide for worker compensation schemes.

Working with Lock The Gate, the Hunter Alliance and my independent colleague for Lake Macquarie Greg Piper, I successfully negotiated improvements to the bill. My amendments will ensure that funding goes to projects that are in the public interest and are environmentally sustainable, funding decisions are public, and new panels providing advice can innovate.

After years of politicians using coal dependent communities as an excuse against change, I look forward to new investment to modernise their economies into the future. My speech > HERE.