The proposal would provide funding for a Green Industrial Transformation Fund to drive the Green Transition and create jobs across Australia. It has the following components:

• component 1: Green metals
  • An initial $700 million in funding in 2025-26, followed by additional funding of $350 million per year from 2026-27 in investment in the form of loans, equity, grants or direct investment, to go towards developing a zero carbon Australian metal sector.
• component 2: Green Aluminium Australia
  • Allocate $21.4 million per year to Green Aluminium Australia to modernise and secure its emissions free future.
• component 3: Clean Technology Program, including:
  • Clean Technology Investment Program: allocating $1.6 billion between 2025-26 and 2031-32 to co-invest with industry in capital equipment that will help electrify everything and replace gas use and gas feedstocks.
  • Clean Technology Food and Foundries Investment Program: allocate $28.6 million per year to help manufacturers in the food and foundries industries to invest in energy efficient capital equipment, shift off gas and emissions intensive fertilisers.
  • Clean Technology Innovation Program: allocate $57.1 million per year to support research to reduce greenhouse gas emissions with a focus on hard to abate sectors.
  • Research and Development for Cement: allocate $28.6 million per year for research and development into cement to reduce emissions in production and electrification processes.

All components of the policy will commence from 1 July 2025.