685 ledlights.blog

The sustainability market overview in Australia

play icon ledlights.blog Listen to this article
Reading Time: 2 minutes
spotify badge ledlights.blog

In sustainability and clean energy, Australia is a growing market with a focus, particularly on renewable energy. The country is equipped with abundant natural resources such as solar, wind, and hydropower. A target of 33,000 GW hours has been set by the Australian government in 2020 promoting the development of the renewable energy sector.

In sustainability products, a growing demand for eco-friendly products can be seen such as green buildings, energy-efficient appliances, and electric vehicles. Also, waste management and recycling industries are expanding to reduce waste and increase resource efficiency.

The promotion of sustainable development has been actively seen in reducing environmental impact. Some important aspects of the Sustainability market in Australia are:-

  1. Renewable energy: A goal has been set to reach 33-66% of renewable energy by 2030 and 50% by 2030 by investing in solar and wind energy.
  2. Energy efficiency: Various policies and programs are implemented to increase energy efficiency in buildings, industry, and transportation to reduce energy consumption and greenhouse gas emissions.
  3. Climate change: One of the largest emitters of greenhouse gases per capita, Australia is facing challenges in addressing climate change with some government policies criticized for being insufficient.
  4. Sustainable transportation: Australia invested in electric vehicles and other sustainable public transportation to reduce the dependence on fossil fuels.
  5. Sustainable Agriculture: Australia implemented policies to promote sustainable agriculture, organic farming, and biodiversity to reduce the environmental impact of food production.

Even with lots of progress in sustainability but still facing challenges in addressing climate change and reducing its fossil fuels dependence.

Source: Euromonitor, bain, sustainabledevelopment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.