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Initiatives

Achieving a Net-Zero Economy: Roadmap for Victorian Businesses

The Victorian Chamber of Commerce and Industry has launched a new campaign to support businesses’ transition to a net-zero economy. The campaign focuses on three core objectives: reducing energy prices, ensuring the reliable supply of energy, and supporting businesses transition to a net-zero economy.

Achieving a Net-Zero Economy: Roadmap for Victorian Businesses

At the Victorian Chamber, we are committed to work in partnership with the business community and state government to achieve the state’s ambitious goal of 95% renewable energy use by 2035. 

We recognise that there is much work to be done, but we firmly believe that by providing businesses with the support they need, we can create a more sustainable future and unlock new economic opportunities for our state. 

Net-Zero Roadmap

Net-Zero Energy Roadmap

The Victorian Chamber has developed a comprehensive roadmap for how Victoria can achieve a net-zero economy. Our members in conjunction with ARUP have helped inform this vision, ensuring it is practical, achievable, and impactful.

The roadmap includes 25 short, medium, and long-term recommendations to provide certainty, stability and prosperity for Victoria’s economy.

Download the Net-Zero Roadmap

Member spotlight 

MCEC
MCEC: An iconic venue changing its ways

For the Melbourne Convention and Exhibition Centre (MCEC), sustainability is no longer a ‘nice to have’. It’s an expectation from clients, partners and attendees. That’s why it has embarked on its own journey towards net-zero.

ZEN Energy
ZEN Energy: Comitted to renewable solutions

According to ZEN Energy CEO Anthony Garnaut, while Victoria is not the sunniest place in Australia, “it's a lot sunnier than Germany”, meaning the cost of solar even in Melbourne is a lot cheaper than building a solar farm in the sunniest part of Germany.


Achieving a Net-Zero Economy: Roadmap for Victorian Businesses

Short-Term: Business and Workforce Support 

Pol230001 Energy Roadmap 01 Summary
  • The short-term costs of transitioning to renewable energy lies in the upfront investments required for upgrading infrastructure and adopting new technologies.
  • Costs can be substantial for energy-intensive industries, potentially impacting their competitiveness in the market.
  • The government can support industries by providing subsidies, incentives, and financing options to mitigate the financial burden. Additionally, a reskilling program can also support workers affected by the transition to new technologies.

Primary Recommendations

P1 Government Renewable Energy Roadmap: Victorian Government prepares and publishes a comprehensive renewable energy roadmap that includes the Victorian Chamber’s recommendations and provides certainty for the business community. 
P2 Energy Intensive Business Support: Ensure energy intensive industries receive opportunities for grants, subsidies and incentives to lower energy costs and effectively transition to renewable energy options.
P3 Boost Sole Trader Subsidies: Extend energy subsidies to sole traders to ensure that they are not unfairly disadvantaged during the energy transition.
P4 Centralise Business Support: Create a business assistant, which provides access to renewable energy retailers, innovation and networking events, thought-leadership research, government grants and equity, subsidies, and business-to-business collaboration. 
P5 Develop Skilled Workforce: Implement programs for reskilling workers in existing industries to transition via microcredentials or fast-tracked courses to ensure businesses have the future workforce they will need. 
P6 Commercial Solar Upgrades: Increase commercial subsidy schemes to incentivise commercial property owners to install renewable energy infrastructure.

Medium-Term: Fast-Track Victoria’s Energy Transition

Pol230001 Energy Roadmap 02 Summary
  • The Victorian Chamber is advocating for the Victorian Government to implement initiatives that will turbocharge Victoria’s transition to a net-zero economy.
  • These priorities will help boost local manufacturing, improve grid-scale battery and transmission capacity, and decentralise the energy grid.
  • Victorian industry needs to see investment in diversified energy sources such as hydrogen, solar, wind, thermal and bioenergy that encourages competition, which will drive down the costs of energy and ensure long-term certainty in the market.

Primary Recommendations

P7 Large-Scale Battery Storage: Co-invest with industry in large-scale battery storage capabilities. Partnered with a priority in boosting supply chains, this will offset the risk of supply shortages during the infrastructure upgrades to Victoria’s energy grid.
P8 Australian-Made Renewables: Increase sovereign manufacturing capability to grow a diverse renewable sector. This would increase the reliability of Australia’s energy supply chain, enhancing our export capacity, increase competitiveness and drive down costs.
P9 Electric Vehicle Network: Fund the expansion of Victoria’s ultra-rapid electric vehicle charging network across Victoria to support the transport and logistics sectors reduce emissions.
P10 Low Emission Steel Investment: Invest in low emission steel and aluminium manufacturing to help with domestic supply chains.

Long-Term: Government and Industry Investment 

Pol230001 Energy Roadmap 03 Summary
  • There is an urgent need to transition towards a net-zero economy to combat climate change and ensure sustainable economic growth. This will require a long-term, strategy that addresses all sectors of the economy, in particular the built environment and the energy sector.
  • Victorian industry requires a long-term, comprehensive strategy that addresses all sectors of the economy, with a particular focus on the built environment and the energy sector.
  • The strategy must include the development of a 30-year infrastructure and investment roadmap that provides certainty and predictability for private sector investment, as well as a range of policies and programs to promote energy efficiency, renewable energy, and low-emission technologies.

Primary Recommendations

P11 30-Year Infrastructure & Investment Roadmap: Establish long-term infrastructure and investment roadmaps to facilitate commercial partnerships and to drive private equity investment. Prioritise business energy efficiency upgrades, followed by industry and infrastructure development, skills development, and training support.
P12 Innovation and Commercialisation: Establish long-term partnerships with industry and the tertiary sector to drive innovation and commercialisation of renewable products and services.
P13 Net Zero Built Environment: Develop a comprehensive, long-term strategy to achieve net-zero emissions in the built environment by retrofitting existing buildings and designing new ones to be energy-efficient and to use renewable energy. The strategy should include building codes and standards, financial incentives, training and education programs to support the transition to net-zero buildings.

 

View Achieving a Net-Zero Economy: Roadmap for Victorian Businesses

 

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