SHAYNE ELLIOTT: CHIEF EXECUTIVE OFFICER, ANZ

Queensland is growing faster than any other Australian state or territory1 and that growth brings significant opportunity.

In September, the Queensland Government announced its Energy and Jobs Plan that targets a 70 per cent renewable energy target by 2032. The Plan sees an estimated 100,000 jobs. These are good jobs for the regions as well as the cities and will have flow-on affects for local communities.

Some estimates we have seen show the world will need to spend about $275 trillion on the transition to net zero emissions. That figure provides a sense of scale for this challenge, but also for the enormous opportunity for industry, governments and communities to work together and benefit.

Importantly, this opportunity does not just exist for large energy and resources companies; there are opportunities for small and medium sized businesses to be involved too. The Queensland Government is already in discussions with many of these businesses to manufacture and produce goods and services required to help build out the energy plan.

A transition of this scale can’t happen overnight, so it’s important for organisations like ANZ to support the plan by helping companies through the changes needed to support net zero. We need to support the economy through what will be a challenging transition, and individual companies with their own plans to reduce emissions.

ANZ is already doing this through conversations with 100 of our largest emitting business customers and our program with the Clean Energy Finance Corporation, which helps small to medium sized businesses transition to net zero emissions through access to discounted finance for eligible energy efficient related assets.

This energy transition is not the only area in Queensland that ANZ sees enormous opportunity; the state’s agricultural industry is equally compelling.

Queensland dedicates more than 80 per cent of its 173 million hectares to the agriculture industry. From beef and poultry to sugar cane, nuts and even bees, Queensland’s agriculture, forestry and fisheries sector in 2023 is forecast to produce more than $17 billion total production for the second year in a row. This constitutes almost 21% of total Australian agricultural production.

As the State continues to grow, Queensland’s agricultural industry will need to grow with it and ANZ is well positioned and ready to help with finance, insights and expertise.

This is a growth opportunity beyond Queensland and Australia. The world requires more food, but importantly, food and fibre of high credential in all respects. Queensland has a reputation for clean, safe, ethically sourced and sustainable produce that competes strongly in global markets. Regional areas across the state will continue to attract significant interest and investment from within Australia and across the globe.

The future is looking very bright for the Sunshine State without even considering the many opportunities the 2032 Brisbane Olympics will provide.