A group of Australia’s largest industrial companies have joined together in an initiative intended to prepare and promote the country’s path towards a decarbonised global economy. The Australian Industry Energy Transitions Initiative (ETI) has been joined by companies from a variety of industries, including BHP, Woodside, BlueScope Steel, BP Australia, Orica, APA Group, Australian Gas Infrastructure Group and Wesfarmers Chemicals, Energy and Fertilisers. Together, the companies represent 14% of Australia’s industrial emissions.
The initiative was also joined by National Australia Bank, energy efficiency and automation digital solutions provider Schneider Electric, and by AustralianSuper, the country’s largest Australian superannuation and pension fund. The initiative was convened by non-profit organizations ClimateWorks Australia and Climate-KIC Australia, in collaboration with the Energy Transitions Commission.
The primary goal of the initiative will be to prepare Australian industry up for success in a decarbonised global economy, by harnessing industry knowledge to develop pathways and actions that can accelerate emissions reductions across whole supply chains, with a focus on sectors where abatement has traditionally faced structural challenges.
The initiative announced that it will focus its efforts on five supply chains, including steel, aluminium, liquified natural gas, other metals (such as lithium, copper and nickel) and chemicals (including explosives and fertiliser). Together, these five areas represent more than a quarter of the country’s GHG emissions, and generate exports worth around $160 billion.
Australian Industry ETI is Chairman Simon McKeon AO said:
“We know that we can find solutions more quickly, and start implementing them, if we’re encouraging collaborative learning and knowledge sharing, especially when it comes to new technology.
“This initiative provides a platform to generate knowledge and test action through on-the-ground projects that support industry to realise the opportunities of a decarbonising global economy.”
According to the initiative, supply chains present a significant challenge on the road to decarbonisation, given their complexity and interconnected nature, and the multiple aspects that need to be understood, including finance, investment and customer decisions, as well as operations such as the extraction of raw materials, processing and distribution. The initiative aims to collectively learn, develop research and find actions that move broader industry sectors toward net zero emissions in supply chains.
ClimateWorks CEO Anna Skarbek said:
“Emissions aren’t contained within national borders and aren’t confined to what happens within a company’s four walls. That’s why a supply chain approach is vital.”
The Australian Industry ETI stated that it has been developed with the generous support of philanthropic donations, company contributions and funding from the Australian Government, through the Australian Renewable Energy Agency. It is supported by the Australian Industry Group and the Australian Industry Greenhouse Network, with research partners including CSIRO and the Rocky Mountain Institute.