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In this episode, Louise McGrath and Tennant Reed discuss the implications of Australia's 2035 emissions reduction target, focusing on how various industries can adapt to meet these goals. They explore the unique challenges faced by different sectors, the importance of carbon border adjustments, and the need for supportive policies to facilitate a smooth transition towards decarbonisation.

The conversation emphasises the potential for decarbonisation to serve as a competitive advantage for Australian industry, provided that the right strategies and investments are made.

Takeaways:

  • The 2035 emissions target is a significant challenge for industry.
  • Different sectors face unique challenges in reducing emissions.
  • Investors expect returns while companies reduce emissions.
  • The safeguard mechanism provides both incentives and penalties.
  • Carbon border adjustments are crucial for maintaining competitiveness.
  • Decarbonisation can be a competitive advantage if managed well.
  • A reliable supply of zero emissions electricity is essential.
  • Tax incentives can facilitate industry upgrades.
  • Policymakers need to prioritize clear objectives for projects.
  • Fundamental process changes may be necessary for effective decarbonisation.

Australian Industry Group comment: The challenging next step to net zero

Contact the Industry Development & Policy team here.

 

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Louise McGrath

In her role as Australian Industry Group’s Head of Industry Development and Policy Louise provides strategic leadership and guidance for Australian Industry Group’s policy agenda in building competitive industries through global integration, infrastructure development and innovation. She ensures that through policy leadership members have a voice at all levels of government, by representing and promoting their interests on current and emerging issues.

Louise represents Australian Industry in several multilateral forums, such as the B20 Taskforces, Global Business Coalition, and the East Asia Business Council working group on RCEP. She advocates for the interests of Australian Industry Group members during Free Trade Negotiations and translates those agreements to support the strategic aims of members. She is a member of CSIRO’s Responsible Use of Artificial Intelligence Think Tank and the Manufacturing Advisory Group, the NESP Sustainable Communities and Waste Hub and the Advisory Group of The Australian Consortium for ‘In-Country’ Indonesian Studies (ACICIS).

Louise has studied a Bachelor of Arts (Arabic Language and Culture) at Deakin University and an Advanced Diploma in International Trade at RMIT. She has also studied Arabic at universities in Jordan and Egypt.

    Tennant Reed

    Tennant Reed is Director - Climate Change and Energy at Australian Industry Group.

    He has worked on these issues since 2008, advising Australian Industry Group’s Leaders’ Group on Energy and Climate Policy; coordinating joint research and advocacy with wider energy stakeholders; facilitating the Australian Climate Roundtable; developing reports on energy prices, carbon border adjustments and business energy use; reviewing emissions targets for the state of Victoria and closely observing international climate negotiations.

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