CPD’s Sustainable Economy Program is charting a just, swift and orderly transition for Australia and the region
The past 12 months has seen important government breakthroughs including the creation of the Net Zero Authority and the announcement of climate risk rules, which have been informed by years of CPD work.
A complete picture of risk and opportunity through a disclosure regime covering business and government
A Net Zero Authority to steer Australia’s decarbonisation journey
Critical mass for aggressive, achievable 2035 targets consistent with 1.5 degrees
The announcement of a Net Zero Transition Authority in this year’s Federal Budget reflects recommendations made over many years by CPD and partners in our sustainable economy work.
This will guide Australia’s energy transition, help people and communities that rely on emissions-intensive industries to adapt, coordinate clean energy programs, and drive the uptake of net zero opportunities by investors and companies.
In December 2022 the Treasurer announced that the government will establish mandatory climate disclosure rules for large businesses in Australia. These institutions will need to provide greater transparency on how they are responding to climate change and supporting the transition to net zero. This is something CPD has supported for many years as part of a change agenda in the way corporations and public authorities manage climate-related risks.
CPD’s focus is now on the next horizon. The Climate and Recovery Initiative – a forum steered by CPD, Climateworks Centre, the ACTU, AiGroup and Pollination – has transformed into the 2035 Climate Initiative, which is building agreement on the actions needed to be taken now to reach ambitious 2035 targets consistent with limiting global warming to 1.5 degrees.
Leaders across government, business, finance and NGOs are examining abatement in heavy industry, investment in green sectors, and regulatory settings for the post-carbon economy.
Research to ensure the regions of Australia most affected by transition lead the pack for opportunities continued this year. To support the work of the Net Zero Authority we have developed a framework to measure adaptive capacity in transition-exposed local economies.
This is a foundational component of targeted transition plans that build community capabilities and strengths in regions that previously relied on fossil fuel industries.