The Australian Industry Energy Transitions Initiative (Australian Industry ETI) – a four-year collaboration of more than thirty organisations dedicated to decarbonising Australia’s heavy industry – was selected as a finalist for the Banksia Foundation’s Net Zero Action Award.
Climateworks Centre is honoured that the initiative was chosen as a finalist for the thirty-fifth National Banksia Sustainability Awards, and would like to extend its congratulations to the ACT Emergency Services Agency who took home the award.
The nomination demonstrates that the Australian Industry ETI continues to be recognised for its collaborative efforts in decarbonising Australia’s heavy industry.
The Australian Industry ETI, co-convened by Climateworks, operating within the Monash Sustainable Development Institute at Monash University, and Climate-KIC Australia, forged a crucial heavy industry net zero emissions pathway – the first of its kind in Australia.
The initiative also demonstrated the importance of decarbonisation that aligns with the all-important goal of limiting global warming to 1.5ºC.
‘It is only by working together – with government, industry, civil society, researchers and the financial sector – that we will see the sort of systems transformation needed to deliver on our emissions reductions targets,’ said Chris Lee, CEO, Climate-KIC Australia.
‘This was the first time that Australia’s mining, resources and finance companies were brought together to develop net zero emissions pathways – and showed that it can be done,’ said Anna Skarbek, CEO, Climateworks Centre.
The Australian Industry ETI drew together 18 industry participants then representing 32 per cent of the market value of the ASX100.
The initiative developed decarbonisation pathways for five of Australia’s most significant heavy-industry supply chains, which contribute on average more than one-quarter of Australia’s annual emissions.
The ETI recommended setting net zero targets for industrial regions and identified five regions that account for one-eighth of Australia’s total emissions, equivalent to the emissions of every car and light commercial vehicle across the country.
‘It is imperative that we transform our industrial regions to ensure they are competitive in a decarbonised world,’ Ms Skarbek said.
Net Zero Industrial Precincts (NZIPs) are key to that transformation and can provide prosperity for workers and industries.
‘The NZIP idea is simple – supercharge industrial areas with plenty of renewable energy, green hydrogen, shared infrastructure, labour and knowledge. Coordinate the public policy and investment that will attract further private sector investment, supporting the transition of the existing and creation of the new at the same time,’ Ms Skarbek said.
Building on the Australian Industry ETI, Climateworks has been developing and testing an NZIP framework in a major industrial region to ensure the findings of this collaborative initiative inform place-based industrial decarbonisation in Australia and beyond.
The Australian Industry ETI was co-convened by Climateworks Centre and Climate KIC, in collaboration with the UK-based Energy Transitions Commission and delivery partners CSIRO, RMI and BloombergNEF.
The initiative was developed with the generous support of philanthropic donations, funding from the Australian Government through the Australian Renewable Energy Agency and contributions from participating organisations.
Explore the Australian Industry ETI key findings
Learn more about the Australian Industry ETI
Bri Hudson | +61 492 265 437 | media@climateworkscentre.org