Net zero: What modelling shows about QLD coal jobs

The value of coal production will be halved by 2050 no matter what Australia does on net zero but hydrogen production will create thousands of new jobs, new modelling has revealed.

The value of coal production will be halved by 2050 no matter what Australia does on net zero, but there will be more jobs gained than lost, modelling on the Morrison Government’s climate plan reveals.

The promise Australians will be almost $2000 better off is largely based on assuming the country is able to cash in on the creation of a booming hydrogen industry growing the economy overall.

Big take up of electric vehicles is also relied on, as well as the private sector voluntarily adopting and investing in new technologies.

The modelling was released just minutes after Prime Minister Scott Morrison finished an unrelated press conference.

Prime Minister Scott Morrison has been criticised for the timing of the release of the modelling. Picture: NCA NewsWire / Daniel Pockett

In challenging news for Queensland’s resources workers, the value of coal production halved under all scenarios looked at, while demand for gas will slow after 2040 in response to the rest of the world moving away from traditional energy sources.

But, the value of mining is expected to increase by 5 per cent as demand for ores and critical minerals soars.

Hydrogen production could support up to 16,000 new jobs nationally by 2050 in regions including central Queensland.

The modelling did not disclose what job losses there will be, but stated there will be more jobs created than lost.

It expects there will be a net increase of 40,000 jobs in power generation, including up to 6000 jobs transferring across from traditional energy generation sources shifting into clean energy, as well as 45,000 new jobs being created.

Energy Minister Angus Taylor said key to the government’s plan was the cost of technologies clean hydrogen, low emission steel and aluminium, as well as carbon capture and storage coming down.

Coal at the Port of Brisbane. The value of coal production is expected to be halved by 2050. Picture: AAP image, John Gass

“As those costs come down, the investment in those technologies go up,” Mr Taylor said.

“That means backing businesses to make the investments, backing businesses to get on and reduce the emissions as well as reduce their own costs through productive technologies.”

LNP Senator Matt Canavan, who is continuing to oppose net zero despite the government adopting the policy, said the modelling failed to distinguish between different quality coals.

“That undersells our coal because we have a high-quality product that will stay in stronger demand for longer,” he said.

Opposition energy spokesman Chris Bowen said it “doesn’t bode well” that the government for releasing the detail late on a Friday afternoon without an opportunity to be questioned.

“Labor will take the necessary time to consider this detail – as a responsible alternative Government should,” Mr Bowen said.