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Australia has signed up to the Climate Club, an alliance of nations that aims to decarbonise industry and pursue net zero emissions by 2050. The Climate Club was formed last year and is an initiative of German Chancellor Olaf Scholz. Prime Minister Anthony Albanese made the announcement while visiting Berlin in early July. He highlighted Australia’s ambition of becoming a renewable energy superpower, and to increase international collaboration with other countries pursuing net zero emissions. German Chancellor Olaf Scholz welcomed Australia’s decision to join the alliance that includes all G7 countries. He stated that Germany and Australia were already cooperating on the production and transportation of green hydrogen, and he looked forward to extending the partnership even further.

Australia’s diversifying energy commodity resources provide wide-ranging investment opportunities as the world transitions to net zero, according to Geoscience Australia's latest assessment. Its report, Australia Energy Commodity Resources 2023, highlights Australia as a major player in the global energy supply chain, with 85 per cent of Australian-produced energy exported. In a foreword, Minister for Resources Madeline King notes the report shows Australia’s position “as a reliable trade and investment partner with a diverse mix of energy resources and strong exports. It also highlights the nation’s huge potential to become a renewable energy superpower, particularly through the production of hydrogen.” There are 22 hydrogen projects operational or under construction, and a further 88 in development. Carbon capture use and storage projects are also increasing, and the nation maintains its position as among the world's largest exporters of Liquified Natural Gas, metallurgical coal and thermal coal.

Three Australian universities have achieved a spot among the world's top 20 for the first time, with the University of Melbourne securing its highest-ever global ranking of 14th. The University of Sydney and the University of New South Wales tied for 19th place. The rankings, conducted by global higher education analyst QS Quacquarelli Symonds, assesed 1,500 institutions worldwide. A revised assessment formula this year supported Australia’s climb up the rankings, with new criteria of sustainability, employment outcomes and international research networks introduced. Australian universities also stood out among other study destinations with high scores for academic reputation, citations per faculty, international faculty and international student ratio.

Innovative Australian hydrogen technology company HydGene Renewables has secured the backing of a specialist UK investor along with Australia’s green bank in a successful A$6 million seed raise. HydGene's innovative technology uses biocatalysts to convert organic waste, including agricultural byproducts, into valuable hydrogen. The process takes place in modular plants, which would enable localised hydrogen production and reduce transportation costs in rural and remote areas. The strategic investor consortium is led by UK venture capital firm Agronomics (A$2.5m) with the Clean Energy Finance Corporation (CEFC, A$2m), Understorey Ventures and NOAB Ventures. The funds will help HydGene establish a pilot plant, expand research and scale operations.

Australia has taken a significant step towards establishing itself as a global leader in sustainable aviation fuel (SAF) by setting up a new Jet Zero Council. The council will bring together key industry players including airlines, manufacturers, airports, fuel suppliers and government agencies to tackle aviation emissions and provide guidance on SAF development. The Australian Renewable Energy Agency will also invest A$30 million to support domestic SAF production from agricultural feedstocks. “Australia’s strong agricultural sector means we could be a global leader by scaling up domestic production of renewable fuel for exports, which could help reduce global aviation emissions significantly,” Climate Change and Energy Minister Chris Bowen said. The International Air Transport Association estimates SAF could contribute around 65 per cent of the emissions reduction needed for the industry to reach net-zero by 2050.

Australia has unveiled a new strategy to grow its critical minerals sector and maximise the benefits of its internationally significant resources. The Critical Minerals Strategy 2023–2030 includes objectives such as building supply chains through strong international partnerships, fostering local processing capabilities and developing infrastructure through investment opportunities. Led by the Australian Government Department of Industry, Science and Resources, the strategy will provide a framework to guide policy decisions. It’s backed by a A$500 million targeted investment into critical minerals projects via the Northern Australia Infrastructure Facility and financing through the Critical Minerals Facility and National Reconstruction Fund. Minister for Resources Madeleine King says it “outlines the enormous opportunity to develop the sector and new downstream industries which will support Australia’s economy and global efforts to lower emissions for decades to come”.

Digital games developers in Australia can now access a major new tax incentive. Australia has legislated to create a 30 per cent refundable tax offset for qualifying games development expenditure. Developers will be able to combine the DGTO with existing state-based incentives–creating incentives worth up to 40%–45% of eligible development costs. The game-changing incentive makes Australia’s growing digital games sector even more attractive to international developers and investors.

Australia has the potential to become a major global player in green steel, a new report finds, thanks to its abundant renewable resources and track record as the world’s leading iron ore supplier. Geoscience Australia and Monash University have released the first comprehensive assessment of Australia's potential to develop green steel as a new export industry. The study pinpoints regions of current and future iron ore production suitable for green steel production and highlights the opportunities and challenges for the Australian iron ore industry in meeting the global demand for low-emissions steel. Optimising processes using wind and solar could significantly decrease green steel production costs to around AU$900 per tonne by 2030 and AU$750 per tonne by 2050, it finds.

The world’s largest iron ore producer Rio Tinto and steelmaker China Baowu are partnering on projects to produce green steel. A memorandum of understanding, signed this week, builds upon their existing US$2 billion joint venture developing the Western Range iron ore mine in Western Australia’s Pilbara region. The agreement covers a range of projects to cut emissions across the steel value chain including opportunities for producing low-carbon iron in Western Australia. Rio Tinto earlier announced a goal to develop one gigawatt of solar and wind power at its Pilbara operations. The companies will also explore the development of a direct-reduced-iron plant, advanced technology for high-grade iron ore pellets, and expanding emissions-reducing technology.

An international consortium is investing A$117 million in an engineering scoping study to deliver one of Australia’s largest green hydrogen projects. Investors in the Central Queensland Hydrogen (CQ-H2) project include Japan’s Iwatani Corporation, Kansai Electric Power Company and Marubeni Corporation, Singapore’s Keppel Infrastructure and Australia's Stanwell Corporation. The project has also received funding from the Australian and Queensland governments. If progressed, the project will generate 200 tonnes of green hydrogen per day by 2028, ramping up to 800 tonnes per day by 2031. The hydrogen will be liquefied and exported to Japan and Singapore.

Toll Group is investing A$210 million in two new warehouse and distribution facilities in response to growing customer demand in Australia. Both facilities are part of the company’s plans to invest A$400 million in the Australian market over the next four years in facilities, fleet and technology. Toll is opening a A$10 million healthcare distribution facility to deliver critical medicines and medical devices to Queensland communities. The company is also building a A$200 million retail warehouse and distribution facility in western Sydney. Spanning over 67,000 sqm and featuring A$75 million of advanced automation technology, the facility will be able to store close to one million cartons and dispatch 37 million items each year.

Australia and the United States have reached an in-principle agreement on sharing sensitive space technology. The technology safeguards agreement (TSA) paves the way for US rockets and satellites to be launched from Australia, positioning the country as a critical link in the global space industry's supply chains. Prime Minister Anthony Albanese and US President Joe Biden announced the TSA during the G7 Summit in Japan, highlighting the opportunities it will bring for increased investment and bilateral collaboration in space exploration. The Head of the Australian Space Agency, Enrico Palermo, emphasised the significance of the agreement, stating that it is a “vital step in continuing to expand Australia's space sector” and attract commercial opportunities.