Market Commentary

‘88% cut to heavy industry emissions is possible’, report shows

Posted by Anton Murray Consulting on . Posted in Market Commentary


Australia’s major industrial regions could leverage existing technologies to slash their greenhouse emissions by as much as 88 per cent – equivalent to removing all emissions from cars and light commercial vehicles across the country, a new report has shown. The report, the product of a two-year collaboration between 18 of Australia’s largest companies as part of the Australian Industry Energy Transitions Initiative (Australian Industry ETI), showed that Australia’s five major industrial regions can contribute to reaching state and national net zero emissions targets by 2050, while also driving employment growth and building the country’s climate resilience. Titled ‘Setting up industrial regions for net zero’ and prepared by not-for-profits Climateworks Centre and Climate-KIC Australia, the report revealed that Pilbara, Kwinana, Hunter, Illawarra and Gladstone, which together account for about one-eighth of Australia’s total emissions, have the potential to achieve an 88 per cent reduction in their current emissions, equivalent to 70 MTCO2e of abatement.

“Australia can remain competitive in a decarbonising global economy. But this will require coordinated efforts across industry, governments and communities, and also the finance and energy sectors. It will also need the alignment of policy, regulations and programs to create clear goals and investment confidence,” said Australian Industry ETI chair, Simon McKeon AO, chancellor of Monash University and former CSIRO chairman.

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