Economist Ross Garnaut addressed the Energy Users' Association of Australia (EUAA) in May 2025, emphasizing Australia's significant potential to lead in green energy exports.
Garnaut highlighted that Australia could leverage its abundant renewable energy resources to export green energy-intensive goods, including green iron, steel, aluminum, silicon, and ammonia. This transition could significantly boost the Australian economy.
Australia's green exports could surpass coal and gas earnings by 6 to 8 times, driving job creation and fostering new industries. According to Garnaut, full-scale clean exports could reduce global emissions by 9.6% of 2021 levels by 2060.
Garnaut noted that hydrogen-based iron-making is ready for investment in South Australia. He also emphasized the crucial role of Australia's diplomatic community in fostering international cooperation in the climate sector. Australia's future prosperity hinges on continued international collaboration in addressing climate change.
The electricity system driving Australian economic development could grow to more than ten times its current size. The EUAA National Conference was held on May 7-8, 2025.