‘Local COP31 could unlock Australia’s clean export potential’: Leading industry, finance and research groups
Leading Australian climate, industry, finance and research organisations, together as the MAXimum Ambition Coalition (MAX), strongly support Australia’s bid to host COP31 in partnership with Pacific Island nations.
Australia and the Pacific are bidding to host the 31st United Nations Climate Conference, known as COP31, in late 2026. Türkiye is also bidding to host the same event.
Co-hosting COP31 is our chance to unlock Australia’s clean export potential, supporting long term growth and jobs across our nation.
The event would also realise half a billion dollars of immediate economic benefits as a major event, according to the South Australian government’s estimates.
It would bring in four times the international visitors of the Melbourne Grand Prix and about a third as many as the Sydney Olympics.
COP26, held in Glasgow in 2021, delivered the UK a net benefit of more than AU$1 billion.
MAX strongly supports Australia’s bid to host COP31 and the diplomatic efforts to resolve the current deadlock with Türkiye.
As most major economies continue their transition to net zero, hosting COP31 will help Australia cement its place in the emerging clean energy economy.
Australia can use the spotlight and convening power of the global climate event to help shape an effective response to the opportunities and threats of climate change.
It can also:
- Showcase Australia as an attractive destination for investment, supporting ongoing economic growth and creating jobs and opportunities
- Support the growth of Australia’s future green exports industries. Our iron ore exports earn around $120 billion a year today; processing them to green iron could raise that as high as $386 billion per year by 2060
- Position Australia as a strategic partner of choice for Pacific Island nations; delivering economic and security benefits while addressing the region’s greatest threat: climate change
- Catalyse critical regional investment with strategically deployed climate finance
Australia and the Pacific cannot act on our own to minimise our climate risks and realise our economic opportunities – that takes global action, and an Australian/Pacific COP provides our best opportunity to accelerate global climate action.
COP31 is more than just a conference – at a critical moment for climate action, Australia is positioned to leverage COP31 as a transformational opportunity for our nation, our region and the world.
Australia can do this through close collaboration with our region, a journey that begins by hosting COP31 in partnership with our Pacific neighbours for whom effectively addressing climate change defuses an existential threat, and offers a development opportunity.
About the Max Coalition
The MAX is an action-oriented coalition of leading Australian climate, industry, finance and research organisations committed to helping deliver a successful COP31 – that aligns with the Paris Agreement’s goal of limiting global warming to 1.5°C while driving shared prosperity.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
