Greens push for public ownership of net zero industries

Greens Leader Adam Bandt is broadly supportive of green hydrogen and critical minerals industries and the high-quality jobs they will create.

But he wants assurances on several key points when the draft legislation is released.

"Are they going to create the same kind of problems for critical minerals that they've created for gas, where Australia's awash with the stuff, but it's all going overseas, and there's not enough left for us to make the transition?" he asked on ABC TV on Sunday.

Public ownership of critical industries would similarly avoid the "same mistakes" made with the gas sector where "big corporations to do whatever they like, and then all of a sudden, it creates a series of problems".

The minor party will also be looking for assurance the push into these industries will come alongside a ban on new coal and gas.

"If there's going to be a big expansion in these areas like green metals, like green steel and green hydrogen, then you can't have the labour and the investment being sucked up in new coal and gas mines that are running out past 2050," Mr Bandt said.

The opposition is also unlikely to support the production tax credits worth $13.7 billion for hydrogen and critical minerals, with the opposition leader labelling them "corporate welfare for billionaires".

While acknowledging the former coalition government supported these emerging industries with grants for research and development, Shadow Treasurer Angus Taylor said production tax credits was a bridge too far.

"It's the equivalent of going to every cafe owner in Australia and saying, 'you know what, we're going to give you a buck, the government's going to give you a buck every time you produce a coffee'," he told Sky News on Sunday.

"This is not how to use taxpayers' money, it's not how to build successful sectors."