Green Growth Blog

After alarming climate risks were revealed this week, the Australian Government's plan to adapt to climate change, the National Adaptation Plan, was released. Let's hope it is as stated to be, a step along the way, with some more focus on place-based, private sector action in the future.

Some assumptions seem to be embedded in the plan:

1. Private sector actors will act to build broader economic resilience to climate change.
2. Local government and insurers can prompt private households and businesses to invest in resilience measures.
3. The programs and policies at state and national levels are broad enough to encompass the development of local financial instruments to drive adaptation.

There are a great differences between grant programs currently nominated in the plan and a local Climate Bond or incentivising financial product/service leveraging action locally where climate impacts manifest.

To me it seems like the Australian Government is hoping climate disclosure reporting will awaken the private sector to:

• realize their adaptation risks
• pursue risk management strategies and opportunities, as well as, collaborate to leverage the best returns.

You can read more about the National Adaptation Plan here.

Queensland is at a turning point. Last week’s Sustain Queensland 2025 event attendees agreed: we need to accelerate investment in industries like biofuels and fast-track the uptake of innovation in the energy transition, if we want to seize greener economic opportunities and manage climate risks.

The conversations were passionate and practical — focusing on how Queensland can navigate the economic transformation ahead. Often forgotten, the challenges for smaller businesses and the agriculture sector in facilitating bigger players’ ambition, were outlined eloquently.

Some levers discussed included:
✅ Data-driven planning and exploration of new technology
✅ Smart financial incentives
✅ De-risking pathways for companies
✅ Upskilling our workforce
✅ Collaboration across sectors, all levels of industry, government and finances

We all appreciated Business Council for Sustainable Development Australia and the UQ Business School hosting such an important event. (They shared these some great photos taken by Mark D / Event Photos Australia). I especially want to congratulate my colleagues Professor John Cole OAM, Belinda Wade and Scott Losee on their long-term vision and contributions.