The proposal consists of 4 components and would have effect from 1 July 2022.

Component 1: Establish a national climate emergency National Climate Action Taskforce, which includes the Prime Minister, Leader of the Opposition, Greens Leader and State Premiers to oversee a whole of government response to the climate and environmental emergency. The National Climate Action Taskforce would implement a plan to achieve Australia’s climate and environment 2030 and 2035 targets and post net-zero negative emission drawdown programs.

Component 2: Allocate $27 million a year to a revamped Climate Change Authority to advise the National Climate Action Taskforce on the impacts of the climate crisis (particularly in the Asia-Pacific region) and to develop sectoral net zero plans for each sector of the economy to guide the decisions of the National Climate Action Taskforce (ongoing funding).

Component 3: Allocate $30 million of funding over two years to the Climate Change Authority to conduct a national security assessment of the impacts of the climate crisis on Australia’s economy and society.

Component 4: Allocate $24 million of funding in 2022-23 to the Climate Change Authority to develop 8 sectoral net zero plans for each sector of the economy and to develop a post net-zero negative emission drawdown program.