Today in Sydney, 90 Japanese business leaders gathered with representatives from Australian industry, government, and research for the first-ever Decarbonising Australia Business Summit.
This two-day event, organized by the Australian Trade and Investment Commission (Austrade) and hosted by the University of Sydney (UTS), aimed to foster stronger collaboration between the two nations in achieving a transition to net-zero emissions.
With a well-established trade and investment relationship, Australia and Japan are natural partners in building forward-looking industries that support the transition to net zero, create employment opportunities, and benefit both economies. Austrade’s Net Zero Lead and General Manager for Investment, Peter Horn, emphasized the importance of the summit as a platform for senior leaders to gain insights into Australia’s net-zero policies and discuss challenges and opportunities in hard-to-abate sectors such as oil, gas, steel, and aviation industries.
Among the distinguished keynote speakers were the Minister for Climate Change and Energy, the Hon. Chris Bowen, and the Assistant Minister for Trade and Assistant Minister for Manufacturing, Senator the Hon, Tim Ayres.
The potential for Australia and Japan to collaborate in the green economy is continually expanding. Austrade’s research reveals that 96 percent of 220 large Japanese companies view achieving decarbonization as critical to their present and future business operations. Moreover, 79 percent of respondents are eager to explore partnership opportunities with Australian research institutions and innovative start-ups to accelerate their net-zero efforts.
Austrade is actively engaged with numerous Japanese corporations, assisting them with investment opportunities and projects across the Australian economy. More than 60 percent of these projects are net-zero initiatives, valued at over $3 billion and estimated to create around 6,000 jobs, further fueling the green economy.
The significant turnout at the summit demonstrates the strong commitment of Japanese companies to take concrete steps in partnering with Australia on decarbonization efforts. Takayuki Watanabe, the Japan External Trade Organization (JETRO) Head for Australia, New Zealand & the Pacific Islands, expressed his enthusiasm, calling the summit a fantastic opportunity for both countries to collaborate on decarbonization initiatives and boost their green economies.
Following the summit, Japanese company representatives will visit decarbonization project sites across Australia and tour Australian university research facilities that are at the forefront of developing the technologies driving the future of decarbonization.
As close partners in the Asia region and leaders in research and development, Japan and Australia have a unique opportunity to steer the development of innovative low and zero emissions technologies that are not only commercially viable but also scalable on a global level, as emphasized by Andrew Parfitt, UTS Vice-Chancellor, and President. The partnership between these two nations holds great promise in accelerating progress toward a sustainable and environmentally responsible future.
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