Protecting our planet and growing a clean economy

To support sustainable economic growth for the long term and leave a better planet for future generations, this Budget includes investments to address the physical risks of climate change as well as take advantage of clean technologies and emerging green markets. Stewardship of our State's stock of natural capital and the services that flow from them is critical to achieving a low-carbon, sustainable economic future for New South Wales.

Clean-energy initiatives to expand and accelerate the development of clean-energy production, transmission and storage in New South Wales will help address the affordability and reliability of energy to ensure families and businesses are prepared for and supported through the transition to net zero.

Climate adaptation

  • More than $2.5 billion investment from the Climate Change Fund over 10 years in programs to reduce emissions and make New South Wales more resilient to a changing climate from 2022 to 2030.

  • $300.0 million over 10 years to provide grants for new business activities to competitively produce low emissions materials, green chemicals, hydrogen, power fuels, clean fuels and agricultural materials.

  • $93.7 million over eight years for a whole-of-government response through the Climate Change Adaptation Strategy.

Renewable energy

  • $1.2 billion net (maximum, after recycling proceeds) to accelerate the delivery of the new transmission projects required for Renewable Energy Zones across regional New South Wales (total gross investment, which is intended to be fully recouped, is $3.1 billion over the next 10 years).

  • $250.0 million over five years for grants to businesses to competitively manufacture components for renewable energy infrastructure, electrolysers, electrification of plant, and electric vehicles.

  • $84.0 million over 10 years to accelerate the Electricity Infrastructure Roadmap to replace retiring power stations with new sources of clean, cheap and reliable generation.

Image of wind turbines