In a bold move to tackle climate change, the Australian government has committed to reducing emissions in line with The Climate Change Authority’s 2035 Targets Advice report. This would mean slashing the country’s greenhouse gas emissions to 62-70% below 2005 levels by the year 2035. The report considers this to represent Australia’s highest possible ambition.
The ambitious target, informed by the latest climate science and economic analysis, positions Australia as a global leader in the race to a net zero emissions future.
Changing the landscape
The decision, announced by Prime Minister Anthony Albanese, marks a significant acceleration in Australia’s climate action. The recommended 2035 target is a marked step up from Australia’s current commitment to reduce emissions by 43% below 2005 levels by 2030.
Naturally, achieving this level of emissions reduction will require a sweeping transformation across the economy, from the power sector to transport, heavy industry, agriculture and more.
A patent boom for CleanTech?
Based on the report, a key part of Australia’s decarbonization strategy will likely be through spurring innovation across a range of low-emissions solutions. If the government decides to implement the policy recommendations from The Climate Change Authority, we can expect to see:
- more government investment in CleanTech.
- additional reform of taxation arrangements to encourage R&D and third-party investment.
- mandates to establish new markets in Australia, with low-carbon liquid fuels and sustainable aviation fuels specifically mentioned.
- prioritisation of research for the government’s key technology areas.
- increased collaboration with Australia’s biggest trading partners.
The only reference to patents in the report is a passing comment that Japan holds the largest number of hydrogen-related patents globally. However, with the report’s heavy focus on innovation, the sectors from the report that are likely primed for patent growth include renewable energy, electric vehicles, sustainable aviation fuels, green steel and aluminium, and carbon capture and storage (among others).
As Australia rapidly scales up deployment of these technologies to slash emissions, the race to own the underlying intellectual property will naturally intensify.
A notable portion of the report highlights the importance of international collaboration. By Australia working with overseas partners to develop low-emissions export industries and technologies, we can expect to see an increase in development projects between Australia’s universities, research institutes and CleanTech companies and their global counterparts. This almost certainly will mean more patents being filed based on Australian research. This could result in a cycle of innovation, where Australian inventions find global markets and international partnerships spur further local breakthroughs.
What next
The 62-70% emissions reduction target for 2035 is a bold step. The expected wave of green innovation and patent activity sets the stage for Australia to be a global leader in building a sustainable future. Now the hard work begins to turn this ambition into reality.
For Australian entrepreneurs, inventors and businesses looking to protect their CleanTech breakthroughs, securing the right patent protection will be crucial to commercial success. The FPA team is standing by to support innovators every step of the way.
