Document ID: chunk:federal_register_of_legislation:F2023L01671:schedule:2:p1
Version: federal_register_of_legislation:F2023L01671
Segment Type: schedule
Provision Reference: sch 2 (pt 1/2)
Character Range: 37763–44260

Schedule 2—Government policy priorities

In making Investment Decisions, the Facility must be satisfied that the Project aligns with one or more of the Government Policy Priorities. The project descriptions in the right-hand column of the table are hypothetical examples of projects that would be aligned with the Government priority in the same row:

Government Priority                                                                                                                Project Description
   1. Sustainable and resilient economic development and the alleviation of economic or social disadvantage in Northern Australia         * Projects materially improving the infrastructure of a region or local community, or providing public benefit, or improving the resilience of a region.
                                                                                                                                          * Projects contributing to secure working opportunities and economic growth in Australia's regional communities.

                                                                                                                                          * Projects in communities or regions where local workforce participation is low.

                                                                                                                                          * Projects that contribute to skills expansion and development in regional communities, including through long-term career pathways.

                                                                                                                                          * Projects which would increase the supply of affordable housing.

                                                                                                                                          * Projects which advance women's economic security.

  2.      Working with jurisdictions to deliver key infrastructure projects in Northern Australia                                         * Projects which enhance Northern Australia's electricity transmission system.

                                                                                                                                          * Projects which enhance Northern Australia's water infrastructure.

                                                                                                                                          * Projects which enhance Northern Australia's transport infrastructure.

                                                                                                                                          * Projects which enhance Northern Australia's communications infrastructure and support digital inclusion.

                                                                                                                                          * Projects which support the required ancillary industries and businesses to support current and future key infrastructure developments.

                                                                                                                                          * Projects that improve Australia's manufacturing capability, particularly in vulnerable or strategically important supply chains.

  3.      Sustainability, climate change and circular economy principles and solutions in Northern Australia                              * Projects that contribute to the reduction of Australia's emissions by 43 per cent by 2030, Australia's renewable energy target of 82 per cent by 2030, or net zero emissions by 2050.

                                                                                                                                          * Projects contributing to Australia's clean energy transformation or renewable energy superpower ambition.

                                                                                                                                          * Projects that support sustainability and circular economy principles.

                                                                                                                                          * Projects in communities or regions with economies concentrated on emissions intensive industries, to support diversification.

                                                                                                                                          * Projects that deliver nature positive outcomes or strengthen climate adaptation and resilience.

  4.      Realising the Critical Minerals Strategy 2023-2030.                                                                          Projects that develop the critical minerals industry in Australia, including by:

                                                                                                                                          * creating diverse, resilient and sustainable supply chains for critical minerals through strong and secure international partnerships

                                                                                                                                          * building sovereign capability in critical minerals processing

                                                                                                                                          * using Australia's critical minerals to help become a renewable energy superpower

                                                                                                                                          * extracting more value onshore from Australia's critical mineral resources, creating jobs and economic opportunity, including for regional and First Nations communities.

  5.      Materially improving the lives of Indigenous people and communities                                                             * Projects which demonstrate alignment with Priority Reforms of the National Agreement on Closing the Gap.

                                                                                                                                          * Indigenous-led projects, including verified Indigenous controlled and owned businesses.

                                                                                                                                          * Projects