Senior leaders in investment, state and federal government, industry, and local community groups came together in Gladstone, Central Queensland to identify ways to solve regional just transition funding barriers and facilitate timely resourcing to where it is needed most.
As the global race to decarbonise economies accelerates, Deloitte Access Economics estimates that over $400 billion of private and public investment is required to transform Australia’s emission-intensive economy into a productive, competitive net-zero economy by 2050.
The Gladstone Transition Investor Experience, which ran 6 to 9 May 2024, shone a spotlight on the transition in the Gladstone region. Like other key regions across Australia, Gladstone’s economic ties to emissions-intensive industries present both significant climate-related transition risks and major opportunities to develop and diversify the local economy for long-term resilience and prosperity.
Read more:
- In 2022, Gladstone Regional Council worked with The Next Economy to develop the Gladstone Region Economic Transition Roadmap: 10-Year Roadmap 2022-2032.
- The Federal Government’s recently made a critical minerals project funding announcement, including $400 million in new loans for Alpha HPA’s high-purity alumina processing facility in Gladstone.
- A summary of The Next Economy’s address to a special senate committee hearing on bills relating to the Net Zero Economy Authority.
Participants connected around the key issues and opportunities that exist in the transformation of regional economies like Gladstone, through a range of site visits, roundtable discussions, guest presentations, workshops, and networking activities.
“The Gladstone experience was a great way to get under the hood of a transitioning region, hear from industry and decision-makers regarding the levers that are being pulled to make change. We had access to a curated group of individuals and organisations, each pulling for change,” one participant said.
The event is hosted by The Next Economy (TNE) in partnership with the Investor Group on Climate Change (IGCC) and the Foundation for Rural and Regional Renewal (FRRR). Following further engagement, TNE will publish a summary of key findings and recommendations identified at the event in mid-2024.
Here’s what some of the organisers had to say ahead of the event:
“Regional communities and industries are increasingly facing complex challenges and opportunities as they navigate the transition to a net zero economy. From developing new industries and technologies to supporting governance and welfare models, government and private investment is critical to setting regions up for the future.
“The Gladstone Transition Investor Experience connects senior leaders from across government, investment, industry and community to have the meaningful conversations needed to solve funding barriers and facilitating the timely flow of resources so regions can get on with the job.”
Dr Amanda Cahill, CEO TNE
“Each year, FRRR receives thousands of grant applications, which demonstrates that remote, rural and regional communities want to be in the driver’s seat when it comes to their region’s future. That applies to energy and climate transition too.
“The Gladstone Investor Experience is bringing together key organisations who can help address the challenges that emerge when navigating rural energy transition. We’re delighted to be part of this event and look forward to exploring how different types of funding and investment can help just transitions to occur and ensure that regional communities have a better seat at the table and are engaged in designing the opportunities.”
Natalie Egleton, CEO of FRRR
“Members of the Investor Group on Climate Change have a legal obligation to deliver good retirement savings for around 15 million Australians. A fast and fair transition will deliver the best returns to allow people to retire with dignity, but that won’t happen by accident.
“Without planning and co-ordination Australia’s transition will become disorderly and increase the costs to everyone. We’re supporting the Gladstone Transition Investor Experience because credible regional transition plans and essential for delivering the capital needed to support this transition to net zero emissions.”
Erwin Jackson, Managing Director of Policy at Investor Group on Climate Change