Australias Readiness For A Low Carbon Future

AUSTRALIA'S READINESS FOR A LOW CARBON FUTURE KEY FINDINGS THE OPPORTUNITIES THE THREATS When it comes to Australia's transition towards a low carbon future, 54% of respondents feel that the opportunities outweigh the threats, while 24% are neutral. 64% believe the biggest barrier to further progress in their low carbon transition is an unclear regulatory environment. Developing new products and services Costs of compliance Improving relationships with customers Loss of competitiveness Risk mitigation (e.g. in supply chains) An uncertain investment environment Improved employee engagement/commitment Risk of brand damage through non-compliance Access to new markets Loss of strategic focus on enhancing corporate value Cost reduction Enhanced supply-chain risk Improving relationships with suppliers SUMMARY The shift towards a low carbon future is happening across the globe today, and Australia needs to prepare for this to secure our prosperity for the future. The findings from the research shows us that the majority of Australian businesses are already preparing for this shift. Most businesses also recognise that the opportunities outweigh the threats – in fact, many companies are investing in resources today to create these opportunities with 38% having new dedicated roles and teams to identify products and services for a low carbon economy. A clearly defined carbon policy will unlock investment and enable businesses to make further progress in their transition towards a low carbon future. HOW READY IS YOUR BUSINESS FOR A LOW CARBON FUTURE? Benchmark your business against other Australian companies of the same size and industry sector: http://digitalresearch.eiu.com/cleaningup/benchmarking-survey This research examines corporate Australia's readiness to face both the risks and opportunities of a low carbon future. The Economist Intelligence Unit (EIU) conducted the survey and interviews independently and wrote the report. Over 130 Australia- based senior executives across industries including the energy and natural resources sector, construction and real estate, transportation, travel and tourism, IT and technology, manufacturing, healthcare, pharmaceuticals and biotechnology, who are familiar with their companies' sustainability strategy, were surveyed. Many of the respondents are in senior management - 57% are in the C-suite or sit on the board. In terms of size, 47% work at companies whose global headcount exceeds 1,000 people. Some 45% of respondents work at firms whose global annual revenues exceed US$1bn. For further information, visit www.ge.com/au Y) imagination at work ABOUT THE SURVEY of companies already have a strategy in place for reducing their carbon footprint %0% 63% of companies believe cutting carbon emissions is a driver of process innovation