A new report by Beyond Zero Emissions shows Australia could grow a new green export mix worth $333 billion per annum, almost triple the value of existing fossil fuel exports.
Called Export Powerhouse: Australia’s $333 billion opportunity, the report demonstrates new green export industries will meet surging demand for zero-carbon products, such as green steel, renewable hydrogen and ammonia, green aluminium and critical minerals that will dominate global economic growth this century.
CEO of Beyond Zero Emissions Heidi Lee, said, “In the three decades leading to 2050, the world will decarbonise. Australia can choose to become a green export powerhouse and reindustrialise the nation or miss our chance by not acting today.
“Fossil exports will drop off as our major trade partners implement their net-zero emissions pledges. If we don’t invest now in these new green exports, other nations will capture early market share, and there will be insufficient runway to establish new export industries in time to replace the nations lost export income.
“Regional Australia will prosper if Australia moves fast to secure market share in the zero carbon global economy. This creates good quality industrial jobs, producing the clean commodities the world needs to achieve its climate targets.
“There is massive demand in the coming decades for these green exports from businesses, industry, investors and our key trading partners. Australia is perfectly placed with the renewables, raw materials, skills and ESG credentials to meet this demand.”
Investing in sustainable downstream refining and processing facilities for key critical minerals would add significant value to Australia’s mining and industrial communities. Development of this market is already underway with innovative local projects such as Alpha HPA in Gladstone, Queensland.
Rob Williamson, Chief Operations Officer of Alpha HPA, said, “If Australia were to co-locate mining and processing facilities, powered by low-cost renewables, it would provide Alpha HPA products with a distinct advantage in global ESG markets”.
“Through further refinement of key minerals, our team at Alpha HPA is proud to be playing a part in moving Australia down the value chain, providing the nation with sovereign capability and helping to secure resilient, low carbon supply chains for our trading partners while locking in economic and job creation opportunities.”
- Currently 39% of Australia’s total commodity exports are fossil fuels in the form of thermal coal, metallurgical coal, crude oil and LNG
- However, climate targets of Australia’s key trading partners will wipe $128 billion a year off Australia’s exports unless we invest in alternatives
- New research from Beyond Zero Emissions shows that Australia can grow its revenue from new green exports to $333 billion by 2050
- The report outlines three scenarios for Australia: Go for Gold, Slow Starter and Back of the Pack.
You can find the new report here.
CEO of Beyond Zero Emissions, Heidi Lee, is available for interviews.