Keeping Australia's heavy industries competitive in a net zero global economy

As the world transitions to a net zero global economy, the Albanese Government is committed to strengthening the competitiveness of Australian industry.

The second consultation paper of the Carbon Leakage Review, led by Professor Frank Jotzo from the Australian National University, released today, considers how to secure a level playing field in a global net zero economy.

This is an opportunity for all interested parties to engage with its preliminary findings before final advice to the Government and will inform any potential future policy decisions.

The preliminary findings include that the current Safeguard reforms are effective at mitigating any uncompetitive behaviour in the short to medium term and proposes future policy options which the Review will now consider.

This process was commenced in response to stakeholder feedback received during the reforms to the Safeguard Mechanism in 2023.

The Review welcomes feedback from all interested stakeholders, including domestic industry, peak business and environmental groups, research experts, international partners, interested international bodies and the broader community.

The feedback period on the preliminary findings is open until 3 December 2024. 

For more information on the review or to make a submission, visit https://consult.dcceew.gov.au/carbon-leakage-review-consultation-paper-november-2024