As the world decarbonises, Australia can either become a green export powerhouse and reindustrialise the nation or miss our chance by not acting today
Research by Beyond Zero Emissions shows Australia can pursue an ambitious ‘Go for Gold’ scenario and secure a significant share of the global market for growth commodities, such as:
- Green steel
- Renewable hydrogen
- Renewable ammonia
- Green aluminium
These products are set to dominate global economic growth this century and Australia is well positioned to be a leader in these markets.
However, we have to rapidly invest to avoid a ‘valley of death’ in our export profile. If left too late, not only will fossil fuel exports drop off as our major trade partners implement their net zero emissions pledges, other nations will capture early market share of new export industries leaving us with insufficient runway to replace the nation’s lost export income.