1. Transition is massively difficult.
To remain on high of the newest science and know-how, corporations are counting on scientists – from physicists and mathematicians to biologists and engineers – to assist information an evidence-based transition plan to internet zero carbon emissions. Whereas coordination and knowledge-sharing throughout company Australia is growing, the street forward stays difficult.
2. Australia lags different developed economies, however has the potential to be a renewables chief
Australia is lagging the US and Europe in its transition to a sustainable financial system, however the nation has huge potential to develop into a frontrunner in renewable power. Australia’s landmass, considerable pure sources and world-leading know-how might be leveraged to assist the nation develop into a worldwide chief in renewable power and renewable options. Coupled with the ingenuity and aggressive nature of its individuals, it is a recipe for Australia to maintain punching above its weight.
3. Some sectors might be carbon impartial immediately, for others technological options appear many years away
Whereas some agricultural producers can attain carbon neutrality immediately by following trade best-practice, the trail forward is extra difficult for industries like aviation. Battery-powered planes are too heavy for long-haul flights whereas hydrogen-powered planes produce other security challenges. New inexperienced know-how is required to totally exchange jet engines.
4. The chance in waste
The round financial system is an enormous financial savings alternative for Australia, significantly as we dwell in a world of finite sources. Whether or not it’s processing single-use plastics into new packaging or diverting scrap metal from landfill into new purposes, there’s worth in unlocking recycling alternatives.
5. Knowledge is important for transition
One of many largest challenges going through many corporations is knowing and measuring their carbon footprint and different sustainability metrics. Investing on this functionality is important, nevertheless, nearly as good information ensures corporations can reliably monitor and report on the progress of their sustainability journey for all stakeholders together with buyers.
6. A key position for First Nations individuals
First Nations individuals stand to play a key position in supporting the sustainability transition and their shut reference to land and nation affords distinctive insights that may assist information the best way ahead. Indigenous savannah burning – a conventional follow of managed burning of bushland to pre-empt bigger fires throughout dry season, is one instance the place Indigenous practices of land administration can advance the nationwide sustainability journey.
7. There’s no transition with out mining
Provide safety of key metals and minerals is paramount: with out lithium, there’s no electrical automotive, and with out copper, lights is not going to activate. Because the world strikes to radically ramp up renewable power era and exchange combustion engines with batteries to affect transportation and trade, demand for sure uncooked supplies is about to skyrocket. With out funding in new mining provide, there’s an enormous danger that transition is delayed. Australia is nicely positioned to learn given its big pure sources of those supplies.
8. Overcoming complexity in carbon markets
Carbon markets will play a important position in attaining the “internet” of internet zero. Not all emissions might be eradicated by 2050, so the world wants a trusted, clear and efficient mechanism for offsetting any remaining emissions by way of sequestration. Whereas immediately’s carbon markets are complicated and opaque, partaking with the complexity might be worthwhile – as some convention members have discovered they’re nearer to carbon neutrality than they imagined.
9. Upcycling is the brand new constructing inexperienced
Builders are more and more taking a holistic strategy to contemplating the carbon emissions of development – from the carbon footprint of manufacturing development supplies and transport them to web site, to the end-of-life plans for buildings. The so-called embodied carbon strategy focuses on decreasing, re-using and recycling the place attainable in new buildings in addition to refurbishment of present properties, whereas making the day-to-day operations of those buildings extra sustainable.
10. Trying past local weather to nature.
Whereas local weather change has develop into mainstream, nature loss is way much less recognised. It’s turning into clear that there’s a have to sort out biodiversity and local weather change collectively, and never as two separate points. This implies better coordination and collaboration between enterprise and conservation, and the elevation of pure capital accounting to make sure advantages are made clear to all stakeholders.
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