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Launch of the Consultation Paper on Low Carbon Liquid Fuels: Paving the Way for Sustainable Development

SYDNEY, 9 July 2024 - The Business Council for Sustainable Development Australia (BCSDA) is pleased to announce the release of the Consultation Paper on Low Carbon Liquid Fuels. This paper is a significant step towards achieving Australia's net zero emissions target by 2050 and promoting sustainable development across various sectors.

 

Relevance to Sustainable Development Goals (SDGs):

 

The development and implementation of low carbon liquid fuels are intrinsically linked to several United Nations Sustainable Development Goals (SDGs):

 

  1. SDG 7: Affordable and Clean Energy

  • Promotes the use of renewable energy sources, thereby increasing the renewable energy share in total final energy consumption (Indicator 7.2.1).

  1. SDG 9: Industry, Innovation, and Infrastructure

  • Encourages industries to reduce CO2 emissions per unit of value added (Indicator 9.4.1).

  • Stimulates research and development expenditure (Indicator 9.5.1), fostering innovation in sustainable fuel technologies.

  1. SDG 12: Responsible Consumption and Production

  • Enhances material footprint management (Indicator 12.2.1) by promoting the use of waste materials and biomass in fuel production.

  • Supports compliance with international environmental agreements (Indicator 12.4.1).

  1. SDG 13: Climate Action

  • Contributes to the reduction of total greenhouse gas emissions per year (Indicator 13.2.2) by substituting fossil fuels with low carbon alternatives.

  1. SDG 17: Partnerships for the Goals

  • Fosters international cooperation in science and technology for sustainable development (Indicator 17.6.1).

 

The Business Case for Addressing Low Carbon Liquid Fuels:

As the world moves towards a more sustainable future, it is imperative for companies and industries to adopt actionable solutions at scale and speed. The adoption of low carbon liquid fuels offers numerous benefits:

 

Economic Benefits:

  • Development of a domestic LCLF industry will create jobs, particularly in regional areas, and contribute significantly to GDP growth.

  • Reduction in reliance on imported fuels enhances energy security and reduces vulnerability to global market fluctuations.

 

Environmental Impact:

  • Substantial reduction in greenhouse gas emissions, contributing to national and global climate goals.

  • Promotes the use of renewable and waste-derived materials, aligning with circular economy principles.

 

Competitive Advantage:

  • Early adoption and investment in LCLF technologies position companies as leaders in sustainability, enhancing their brand reputation and customer loyalty.

  • Compliance with evolving environmental regulations and standards mitigates the risk of future liabilities and ensures long-term business viability.

 

Call to Action:

BCSDA urges all stakeholders, including industry leaders, policymakers, and researchers, to actively participate in the consultation process. Your insights and contributions are vital to shaping policies that will drive the sustainable development of the low carbon liquid fuels industry in Australia. Together, we can accelerate the transition to a low carbon economy and ensure a sustainable future for generations to come.


You can view details about the consultation here.

 

For further information, please contact: Andrew Petersen, CEO Business Council for Sustainable Development Australia 0412 545 994 andrew.petersen@bcsda.org.au

 

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