Mission Possible Partnership (MPP)<\/a> and the Industrial Transition Accelerator (ITA).<\/p>\nThis initiative follows an investment in more than 70 clean industry projects in total, worth AUD $290bn ($203bn).<\/p>\n
15-20 projects are already in advanced development stages, and one has reached final investment decision (FID)<\/p>\n
The potential projects display how Australia can become a global leader in emerging clean industrial sectors if decisive government action is taken, ahead of leading negotiations at COP31.<\/p>\n
Acting Branch Head at Australia\u2019s Department of Climate Change, Energy, the Environment and Water, Michael Bartlett, said: \u201cIf we act now to kick-start the clean industrial revolution in Australia, we can realise an immense economic opportunity valued at more than a quarter of a trillion dollars. This will deliver huge benefits to citizens in all corners of the country, improving lives and growing businesses. <\/p>\n
\u201cAustralia has strong advantages, with world-class mineral deposits, renewable potential and a strong reputation as a trusted trading partner.\u202fInternational partners already look to us to support the decarbonisation of steel, fuels and heavy industry. There\u2019s a clear economic opportunity if we can move early and build scale.\u201d <\/p>\n
The initiative was launched at Climate Action Week Sydney, Clean industry spotlight: where key policy and investment levers needed to unlock demand and create the market conditions were presented in order to future-proof the country\u2019s economy through a transition to clean industry. <\/p>\n
The briefing was developed following a workshop which convened more than 50 senior leaders across the clean industry landscape in Australia, including project developers, federal and state government representatives and investors.<\/p>\n
Commodities at the foundation of Australia\u2019s economy: iron ore, coal and gas will increasingly be complemented by clean iron, green ammonia and sustainable fuels. <\/p>\n
As well as unlocking a substantial economic opportunity, this shift will create jobs in legacy industrial regions like Gladstone in Queensland.<\/p>\n
Australia is home to one of the world\u2019s largest clean industrial pipelines, behind only China and the United States. MPP\u2019s Global Project Tracker identifies 53 commercial-scale zero or near-zero emissions projects. <\/p>\n
The global pipeline of clean industrial projects represents an investment opportunity of AUD 2.59 trillion ($1.82 trillion). Much of this is held by \u2018new industrial sunbelt\u2019 countries like Australia, which are set to reach or overtake traditional market leaders, forming new industrial supply chains across the world.<\/p>\n
Director of APAC at Mission Possible Partnership, Rachel Howard, added: \u201cAustralia is home to one of the largest clean industrial pipelines in the world. This potential can translate into huge economic and social benefits across the country, while supporting the path to net zero.<\/p>\n
\u201cTo achieve that, we need true collaboration between government, industry and finance to create a blueprint that can be replicated around the world.\u201d<\/p>\n
While Australia has 70 clean industrial projects in development, many face barriers: insufficient buyers willing to pay a green premium, policy uncertainty, fragmented demand and high upfront capital costs.<\/p>\n","protected":false},"excerpt":{"rendered":"14 green metals projects are now in development in Australia \u2013 five in aluminium and nine in steel.…\n","protected":false},"author":2,"featured_media":533421,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[44269,44272,44270,44273,44271,64,63,19220,3389,3088,44,44274,2261,24080],"class_list":["post-533420","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australia","tag-ait","tag-aluminium-magazine","tag-aluminium-publication","tag-aluminum-magazine","tag-aluminum-publication","tag-au","tag-australia","tag-carbon","tag-international","tag-metal","tag-news","tag-non-ferrous","tag-sustainability","tag-today"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/533420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=533420"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/533420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/533421"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=533420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=533420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=533420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}