Developing a Net Zero Roadmap – Supporting the Victorian Chamber of Commerce and Industry

The guide “Achieving a Net-Zero Economy: Roadmap for Victorian Businesses” aims to lower energy costs, ensure reliable energy supple, and support businesses to meet the state government’s commitment to decarbonise 95% of Victoria’s energy sector by 2035. 

This comprehensive roadmap outlines both short-term business and workforce support recommendations, as well as looks at medium to long-term mechanisms for guiding the broader transition to renewable energy. 

Key short-term priorities outline the importance of subsidies and cost reduction incentives for energy-intensive industries, investing in talent reskilling, and improving energy efficiency through upgrades that reduce costs and support business competitiveness. 

In the medium to long-term, priorities include boosting local manufacturing, improving infrastructure capacities, decentralising the energy grid, and developing a 30-year infrastructure and built environment roadmap. The key goal of the long-term strategy is providing certainty to private sector investors, underpinned by a range of policies and programs for promoting energy efficiency, renewable energy, and low-emissions targets. 

Patrick Gorr, Global Hydrogen Leader, Arup, said: “Energy markets are a key driver in global efforts to tackle climate change by reducing carbon emissions. The roadmap developed with the Chamber draws on globally proven methodologies for reducing emissions while taking into account the specific local environment affecting the state of Victoria to create a bespoke guide for navigating the energy transition. 

“The benefits for governments and industry groups in transitioning to net zero become more inevitable as we see more markets recognising how emissions will play an important role in years to come. That’s why it’s essential that Victorian businesses are proactive in finding an effective path towards net zero.” 

Paul Guerra, CEO, Victorian Chamber of Commerce, and Industry said: “The transition to net-zero presents a unique opportunity for industry, and the Victorian economy. It is imperative that Victorian business and the State Government take a leadership role and use the transition to a net-zero economy as an opportunity to drive economic growth. 

“Reducing emissions is about more than the environment; the renewable energy manufacturing sector could and should be a key component of Victoria’s manufacturing future. We have some of the best, if not the best, conditions for producing renewable energy in the world so we should be grasping this opportunity with both hands. 

“By adopting our roadmap, we believe the Victorian Government can effectively attract private investment, reduce energy prices, ensure the supply of energy, and support businesses in transition to a net-zero economy.” 

The roadmap was launched on 8 February 2023. A full copy is available at Victorian Chamber of Commerce and Industry website.