Work category: News and events

Decarbonising regional economies: Leaders join forces to break down investment barriers

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.

Participant

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 FRR

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

Primary producers in Hay, Carrathool help shape NSW region’s economic future 

More than 80 primary producers and community members joined both Hay and Carrathool shire councils and The Next Economy (TNE) at a series of workshops to explore barriers and opportunities for strengthening community resilience and driving good economic development in the region.  

Situated within Australia’s renowned ‘food bowl’ in the Riverina region of southwest New South Wales, the Hay and Carrathool Shire communities boast a rich legacy in agriculture and primary production. 

The five workshops, held between 8 and 12 April 2024, brought together representatives from local businesses, community organisations, community services and primary production to identify what makes the region work now as well as opportunities and potential directions for good regional development that drives a strong, vibrant and climate resilient future. 

Feedback from workshop participants included:

It was great to see so many community members turn up and be involved.

and

It was good to feel like community members are important in decision making. 

The workshops marked the official start of extensive community engagement activities as part of Hay and Carrathool Shire Councils’ development of the 10-year Resilient Economy Roadmap initiative.  

The Roadmap will outline practical actions councils, business, industries and communities can take over the next decade to diversify their economies while building resilience in the face of change and disruption. This includes economic, social, cultural and environmental resilience. 

The project comes at a pivotal moment for the region as communities navigate a range of growing challenges and disruptions, including rising living costs, climate impacts from recent flood events to prolonged droughts, and the impact of the decarbonisation of global supply chains. 

Jacqui Bell, TNE’s Land Use Director, said:  

“These communities have a golden opportunity to stay strong now and into the future. To do that, they’re coming together to identify how to overcome barriers, diversify economies and build resilience. 

“The level of engagement with the Roadmap project demonstrates the region has a network of strategic local leaders and champions who are passionate about their communities, economy and the future of the region.   

“Community members, business owners and representatives from the primary production industry we’ve engaged with so far are constantly adapting and innovating in response to changes in the local climate and global economy.  It was great to see such overwhelming interest in working collaboratively to shape the region’s future.”  

The Resilient Economy Roadmap initiative is a collaboration between Hay and Carrathool Shire councils, The Next Economy, The Australian Resilience Centre, and communities across the region.  Running from March to October 2024, it is funded jointly by the Australian Government and NSW’s Future Drought Fund and is part of the Regional Drought Resilience Planning Program. 

To stay up to date on the project, follow the Resilient Economy Roadmap Facebook page.  For further project information, please contact j.bell@nexteconomy.com.au 

Welcome funding for CQ, SA critical minerals projects

Media Statement, 17 April 2024

In response to the Federal Government’s critical minerals project funding announcement, including a welcome $400 million in new loans for Alpha HPA’s high-purity alumina processing facility in Gladstone, The Next Economy CEO Amanda Cahill said:

“This is a good example of the role we need government to play if we are to unlock private investment and support regional communities to manage this massive transformation. It is this kind of support that helps Gladstone to attract new investment under the region’s 10-year Economic Roadmap, showing just what’s possible if communities, governments and industries come together to meaningfully address change.

“Australia is blessed with abundant resources, but this can be a curse if development is not done well with boom-and-bust cycles contributing to a range of challenges such as exacerbating housing and workforce shortages. We need a new, holistic approach to regional development so that profits are shared equitably, the rights of First Nations people are respected, and environmental impacts are avoided. For example, in some places companies are looking at how they can reduce the need for new extractive projects by adopting circular economy approaches, such as the mining of existing tailings.”

Read more about Gladstone’s 10-year Economic Roadmap, developed in partnership with The Next Economy.

For interviews, contact 0415 833 948.

A welcome Future Made in Australia

Media Statement
11 April, 2024

In response to Prime Minister Anthony Albanese’s Future Made in Australia Act announcement and address at the Queensland Media Club today, Dr Amanda Cahill, CEO of The Next Economy, said: 

“This is an important announcement at a pivotal time for Australia as the world races to decarbonise. Everyone is competing to build the industries that will be the basis of national prosperity, which means everyone is competing for the same components needed to build a renewable future.

“For the first time in decades, Australia can expand its manufacturing base to meet this domestic and international demand. Small, medium and large-scale companies across Queensland in regions like Central Queensland, Townsville and Mt Isa are already manufacturing RE components like towers for wind turbines, inputs for solar panels and electronics, processing important minerals like copper, bauxite and zinc, making green chemicals and hydrogen, and even batteries and electric vehicles.

“We hear from industry everywhere that government support like this is crucial to unlock private investment. Public finance has always played an important role in moments of large-scale and rapid transformation, from setting up the mining industry to building electricity and transport infrastructure. This moment of transformation is no different. 

“This level of government ambition offers huge potential for regions like Gladstone in Central Queensland, where local government is already attracting new investment and government support under their 10-year Economic Transition Roadmap. But only if it’s approached holistically and that means ensuring better support for essential services and housing so that communities genuinely benefit over the long term.”

For media requests, contact 0415 833 948

Webinar: What Regions Need

The Next Economy hosted a report back and Q&A along with special guests, Professor John Wiseman and Dr Gareth Edwards on Wednesday, 11 May 2022.

Just Transitions Strategies

Case study examples, reports and resources (Click bolded titles for link)

Australian reports and resources

International reports and resources

Have your say: Energising the Future Economy of the Gladstone Region

Gladstone locals are invited to share their thoughts on the future energy system and how the region can take advantage of emerging changes to generate new economic opportunities at upcoming community forums hosted by The Next Economy, on 19 and 20 March, 2022.

Listen to our CEO, Dr Amanda Cahill on local radio talk about the importance of having your say.

These forums are part of a new initiative of Gladstone Regional Council – Energising the Gladstone Region’s Future Economy. Feedback from community, government, industry and other stakeholder groups will guide the Council on what is required to adapt to a changing energy sector and to support our region over the next ten years.

“This project is leading the way in Central Queensland, using an inclusive and interactive planning process to tackle the challenges and opportunities of the energy transition.  We’ll be designing a roadmap for the Gladstone Region over the next ten years to help navigate changes in the energy sector that directly impact the local economy,” said Dr Amanda Cahill, Chief Executive Officer of The Next Economy.

“We are already seeing a lot of change across Central Queensland. The Gladstone Region is particularly well positioned to take advantage of new economic opportunities as we shift to new energy solutions, but we also need to plan ahead to manage the potential impacts on our regional economy and build community resilience,” added Dr. Cahill.

Attendees at the community forums at Agnes Water on Saturday 19 March and Gladstone on Sunday 20 March will explore the impact that changes to the energy system are having on the region and have their say about what they want for the future.

Gladstone Region Deputy Mayor Kahn Goodluck said The Next Economy will present the most recent information on energy trends, as well as how renewable energy and other emerging technologies have the potential to boost the local economy.

“The forums will cover topics such as supporting and developing the local workforce, energy affordability, diversifying the economy, and protecting land and water resources,” Clr Goodluck said.

“For those who prefer an online option, we encourage you to join the online forum on Wednesday 30 March.”

The Gladstone Regional Council initiative is delivered in partnership with The Next Economy and is made possible with funding from the Australian Government’s Building Better Regions Fund.

We welcome everyone to participate in the forums, whether you’re an interested resident, First Nations representative, worker, farmer or local business owner. The forums are free to attend, but registration is essential to ensure that we can organise the forums in line with COVID-safe practices.

For more information and to register, please visit Gladstone Regional Council here:

Energising Gladstone Region’s Future Economy

Event details

Date: Saturday 19 March 2022
Location: Agnes Water
Time: 9am to 2.30pm
Venue: Agnes Water Community Centre
71 Springs Rd, Agnes Water

Date: Sunday 20 March 2022
Location: Gladstone
Time: 9am to 2.30pm
Venue: Philip Street Communities and Families Precinct,
Maxine Brushe Rooms, Gladstone

Date: Wednesday 30 March 2022
Format: Online community forum
Time: 6.00pm to 9.00pm

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