The Green Wave: Adding value through the net zero energy strategy

E2 Fast track

The Green Wave: Adding value through net zero energy strategy Report at a glance

RACE for Everyone Program

Project team

The Green Wave Adding value through net zero energy strategies

Institute for Sustainable Futures, UTS

Project Code: 20.E2.F.0137 Copyright © RACE for 2030 CRC, 2022 ISBN: 978-1-922746-13-9 March 2022

Citation Roche, D., Langham, E., Mouritz, M., Breadsell, J., Sharp, D., Nagrath, K., White, S., McCartney, D., Prendergast, J., Parida, S. Bona, R., Kinstan, K, & Jazbec, M. (2021). The Green Wave.

Adding value through net zero energy strategies. RACE for 2030 CRC.

Authors • • • • • • • • • • • • •

David Roche Ed Langham Mike Mouritz Jessica Breadsell Darren Sharp Kriti Nagrath Stuart White Danielle McCartney Jonathan Prendergast Subha Parida Rocio Bona Kylie Kinstan Melita Jazbec

• • • • • • •

David Roche Ed Langham Stuart White Kriti Nagrath Melita Jazbec Danielle McCartney Jonathan Prendergast

• • • • •

Mike Mouritz Jessica Breadsell Subha Parida Rocio Bona Kylie Kinstan

• •

Darren Sharp Vanessa Graham

•

Katie Vines

Curtin University

Monash University

Climate-KIC Australia

Acknowledgements The authors would like to thank the many stakeholders involved in the development of this report, in particular the many industry project partners and other interviewees who have given so generously of their time. While their input is very much appreciated, any views expressed here are the responsibility of the authors alone.

Project partners

What is RACE for 2030?

The Reliable Affordable Clean Energy for 2030 Cooperative Research Centre (RACE for 2030) is a 10-year, $350 million Australian research collaboration involving industry, research, government and other stakeholders. Its mission is to drive innovation for a secure, affordable, clean energy future. racefor2030.com.au

Report at a glance What is the report about?

The report explores new ways to address the challenge of reaching net zero carbon emissions. Specifically, how can we develop institutional net zero strategies that more deeply engage community and business partnerships to deliver greater trust, legitimacy and social value while maximising economic impact? In doing so, the project engaged with the net zero ambitions of three participating universities—University of Technology Sydney (UTS), Curtin University and Monash University.

Why is it important?

Universities are well established public-benefit institutions deeply embedded within geographic, innovation and thought-leadership communities. As such, they should be seen as critical enablers for seeding a net zero economy through their core activities of research and education. While the focus of the project was on university-based precincts with strong links to energy innovation, the project outputs are also broadly applicable to other organisations and other precincts.

Using the process and examples presented in the report, organisations can develop net zero strategies and solutions that deeply intersect with their organisational objectives and strengthen economic participation, stimulating a ‘Green Wave’ to deliver complementary economic, social, and environmental value beyond each organisation’s boundaries.

What did we do?

Through background review, the project team developed a deep understanding of the net zero challenge, including best practice guidelines for net zero strategies. We also devised, applied, and refined a process for developing an institutional net zero plan that includes pathways for delivering additional complementary social and environmental values. Applying this process, we explored opportunities at the campuses of the three participating universities, particularly UTS and Curtin University. Several of these opportunities were further developed into case studies that can be emulated and adapted across other universities and business precincts.

What difference will it make?

The project contributed to the net zero strategies of both UTS and Curtin University. It also provides a foundation for both universities and a wide range of institutions to develop net zero strategies that deliver greater trust, legitimacy and value. The research project also outlines a longer-term research program to address the many technical and organisational challenges associated with making and meeting net zero commitments.

What next?

UTS and Curtin University will continue to develop their net zero strategies while implementing the opportunities identified through the project. The project also provides a template for other institutions to strategise their net zero response, while identifying key challenges and future research opportunities. Research opportunities include design of projects while incentivising the addition of complementary value for other stakeholders, incentivising more impactful investments to transition the energy system, and supporting institutions in meeting their net zero objectives.

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