The committee's report, Sustainability of energy supply and resources in NSW, recommends the Hunter 2050 Foundation, which is headed by the Hunter Joint Organisation, receive funding for its work.

"We heard that, to implement the project, the HJO needs $5 million in seed investment from the government state government over a period of three years, matched by a similar sum from the federal government and the region. We support these calls, and we're recommending that the government provides the funding required for the foundation," the committee said.

The Government is yet to respond to the committee's report.

Hunter Joint Organisation chief executive Joe James said the foundation aimed to provide a "place-based, regional response to build economic resilience."

"It is imperative that the region and the state collaborate strategically and proactively before any acceleration in the downsizing of traditional industries," he said.

"All parties - local government, local industry and institutions, state government - are all stepping up and making commitments, but we need initiatives that can be transformative and scale- up to secure significant volumes of new investment into the region."

Local leadership was also essential to shape the future of the Hunter during a time of structural change.

"Local leadership enhances the sustainability of and accountability for effort and outcomes on behalf of our communities. Partnership with other levels of government is critical - they control policy and funding levers around regional development and energy sector regulation," he said.

The Hunter Jobs Alliance recently published a report that calls for the establishment of a 'Hunter Valley Authority' to support workers and create new jobs as the region heads into a period of unprecedented economic change.

The report Building for the future: A 'Hunter Valley Authority' to Secure Our Region's Prosperity argues the new local statutory authority should be well-resourced to support workers transitioning into new jobs as well as to encourage new investment in the region.

The State Government announced during the recent Upper Hunter byelection that it was creating a Royalties for Rejuvenation fund to assist coal mining communities making the transition to a clean energy economy over coming decades.

The $25 million fund will complement the Resources for Regions program, which has seen $345 million invested in local communities.

The NSW Government has announced the Hunter Expert Panel, the Royalties for Region Fund and the Hunter REZ. Whether in the form of the Foundation or otherwise, the Hunter JO looks forward to working with the Government, through these initiatives, to build regionally focused and enduring capability to support our vision for the Hunter.

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