OLIVER PETERSON: First up today, the Federal Government is edging closer to an agreement to pursue net zero emissions. That's ahead of the Prime Minister's attendance in Glasgow at that climate conference. On the line, live from Parliament House in Canberra, is the Energy Minister, Angus Taylor. Good afternoon.

ANGUS TAYLOR: Good afternoon, Oli. Thanks for having me.

OLIVER PETERSON: Nice to have you on the program, Minister. It's sounding as though you've got the National Party now on board. Barnaby Joyce saying a little earlier, it is utterly Scott Morrison's own right. So what will be the Government's policy position on net zero expected to be announced later this week?

ANGUS TAYLOR: Well, our policy position will be to make sure that we won't put industries, regions or jobs at risk, particularly those industries that have been the backbone of this great country, whether it's the iron ore industry or the gas industry. They are central to our plan, making sure job creation in those industries continues as it has in the past but there is also an imperative here to take advantage each of new economic opportunities. Look, customer's demands are going to change over the coming years, our Japanese customers, our Korean customers, right throughout Asia, and we need to accommodate that. We need to adjust our products. We need to adjust what we're doing and that is absolutely central to our plan, and part of that is not only reducing our emissions, but helping them to reduce theirs. I think industries like gas, like iron ore, and an emerging industry in hydrogen. You're already a producer of hydrogen in WA but we can do a lot more and this is how we, not only bring down emissions, Oli, consistently over time, but also create jobs and opportunities for Western Australians.

OLIVER PETERSON: So these industries might be affected. In fact, you believe they will grow with a net zero emissions target.

ANGUS TAYLOR: Well, yeah. If you take the gas industry, the gas industry now - gas is now in demand around the world on a scale that no one anticipated. It's extraordinary and why? Because it is the perfect complement to renewables. We're seeing record levels of solar going on to people's roofs, particularly in Australia. One in four households now has solar on the roof but gas is the perfect complement to that and that's not just an Australian phenomenon, that's around the world. We export it, and the demand for that will continue to be very, very strong for many years but we can also convert gas to hydrogen, and in the process, reduce emissions and blue hydrogen, carbon capture and storage is a big opportunity for Australia. We know the Japanese market is going to grow for that very, very quickly. We've built supply chains like that in the past, and we can do it again.

OLIVER PETERSON: Can you explain the link between it zero and national security issues?

ANGUS TAYLOR: Yeah. Look, this is an important point. I mean, we have very strong alliances now, and we've strengthened our alliance with the UK, with the US recently with AUKUS, a shift to nuclear subs. Our Japanese strategic relationship is more important than it ever has been. India and all of these countries want to work with us to reduce their emissions and ensure we're doing the same. It's part of what we have to do now to make sure we've got those strong relationships and those strong relationships matter more than ever in our region. We're facing more uncertainties. We're facing more dangers and risks than we have for a long, long time and so those alliances are absolutely critical and part of having those alliances now is working together to make sure those emerging technologies, low emissions technologies, are put into place. I mean, we have to work out how to bring emissions down in the steel supply chain for our steel mill customers up in Asia. This is absolutely crucial. They're asking us to do it, and we can work with them to do exactly that.

OLIVER PETERSON: So basically, if Australian doesn't agree with the US and the UK, these strong relationships might be put at risk, Minister, and therefore, further complications, perhaps, with defence and or trade.

ANGUS TAYLOR: Exactly right but, you know, the flip side, as I say, is [indistinct] here. I mean, one good example of this is, we know there is an opportunity to add more value to our iron ore here in Australia and reduce the emissions associated with the use of that iron ore as they go to steel mills in Asia. I mean, that's something we can do here in Australia. It'll create jobs, it'll create opportunities, and it's what our customers want. So this is the way forward.

OLIVER PETERSON: Yep.

ANGUS TAYLOR:  We are investing heavily in the technologies that allow us to do this without destroying jobs, without destroying regions, and that's exactly what we're doing.

OLIVER PETERSON: You've announced the Corporate Emissions Reduction Transparency Report, does that mean you'll name and shame businesses who don't make their own climate commitments?

ANGUS TAYLOR: Well you know, there's no point virtue signalling and then nit actually getting the job done. That's a pointless exercise. We don't do it as a government. We set targets. We met and beat our Kyoto targets, which was that 2020 emissions reduction targets. Now we're on track to meet the Paris targets. We put out reports every quarter laying out by every gas, every sector, and we expect others to do the same. You know, it's all well and good to say you're going to do all these wonderful things, but you've got to do it. That's the Australian way, we get on and do the job and we expect it of corporates just as much as we expect it of ourselves.

OLIVER PETERSON: So how will they do that? Do they have to just name it publicly and how they'll be held to account? Will they be taxed more or closed down?

ANGUS TAYLOR: No, I mean, they will need to be transparent. That's the point. They'll need to be transparent and if they don't deliver on what they say they're delivering on, you know, there's obviously going to be consequences for them with their customers, their suppliers and investors. That's the nature of how things work in this day and age but transparency is really important in all of this, and we always lay out our plans as to how we're going to reduce emissions. We make sure that they're plans that are going to create jobs and drive investment, not plans that are going to destroy jobs and we think it's appropriate that others lay out their plans as well.

OLIVER PETERSON: So is it just the big companies or the sole traders, because we've got people listening to us this afternoon who are self-employed, plumbers, sparkys, bakers, butchers, what have they got to pay?

ANGUS TAYLOR: Well, I don't think you've got many plumbers making net zero commitments, and that's understandable but you do have the big corporates doing it and as I say, there's no point virtue signalling. That does nothing in its own right. You've actually got to deliver if you're going to get on and do this and look, we're partnering with companies across the country now to bring down emissions in ways that create jobs, not destroy them. That's our focus, and we need those companies standing up and saying what they're going to do.

OLIVER PETERSON: Minister, before I let you go, what has changed since the last election on achieving net zero?

ANGUS TAYLOR: Well, the last election was fought on a 2030 target and that - on the climate change side - and that was a 45 per cent target that Labor put in place or had as their policy, which we knew would destroy jobs, destroy industries, destroy regions and it effectively meant putting in place a big tax on electricity and other energy sources. And we fought against that and we will continue to. That is the wrong policy. Over the long term we can use technology to solve this problem in a way that doesn't destroy jobs. So, nothing has changed. We're talking about the long term now, not 2030 targets and talking about making sure over the long term we can deliver what our customers want. That's what any good business or any good country has to do but at the same time, create strong economic growth, good job opportunities. We can do that and we can do that with technology, not taxes.

OLIVER PETERSON: And that's because you have a bit more time. 2050 is a bit further away than 2030.

ANGUS TAYLOR: It's 30 years. I mean, over 30 years, technology can do extraordinary things to create jobs, create opportunities and bring down emissions. If you're 10 years out and you've got a huge target that you've got no idea how you're going to meet, the only thing you can do is tax things and shut things down and that's simply not what we stand for.

OLIVER PETERSON: And let's be honest, I mean, you're not going to be in politics in 30 years. Neither is Scott Morrison, neither is Albo, neither is Bill Shorten. It'll be somebody else's problem.

ANGUS TAYLOR: But what we can do is invest in the technologies today. They're going to help people to keep their jobs and investments and opportunities for them and their kids in the future and that's our responsibility as a government.

OLIVER PETERSON:  Minister, I appreciate your time. Thank you.

ANGUS TAYLOR: Good on you, Oli.