This paper outlines fiscal priorities for climate and energy. The energy transition is lagging behind and in desperate need of updated system planning and technology-agnostic economic analysis to boost investment. Clear environmental and biodiversity standards must be factored into these analyses, as the push for nature positive to be recognised alongside net zero as national objectives continues to gain momentum. Subsidies for fossil fuels should be redeployed into energy efficiency, transport decarbonisation, community rewards for hosting renewables, and nature repair.

There’s a lot more work to do as Australia moves to a cleaner economy. The recommendations outlined in this paper focus on how to future-proof Australia’s policy-making, pushing past the politicisation and short-term thinking, to embed the clear-eyed collaborative problem solving required to manage the transition.