Smart Green Economy Launch

The Cairns Smart Green Economy project is a multi-stage strategic planning and feasibility study designed to position Cairns and Far North Queensland (FNQ) as a leader in the Smart Green Economy in Australia. By leveraging global growth in the Smart Green Economy and the region’s existing competitive advantages, Cairns is well-positioned to benefit from public and private sector investment that supports sustainable economic and employment growth, innovation, diversification and resilience.

Smart Green Economy collaborators are James Cook University (JCU), Queensland Department of State Development, Local Government, Infrastructure and Planning, Far North Queensland Regional Organisation of Councils (FNQROC) , Wet Tropics Management Authority (WTMA), Cairns Airport, Advance Cairns, Central Queensland University (CQU) and Terrain Natural Resources Management (TNRM).
Development in the Tropics Team's (DitT) Jennifer McHugh was invited to attend the launch of the Cairns Smart Green Economy at Cairns Regional Council on October 1.

The Global Commission on the Economy and Climate has highlighted that transitioning to a low-carbon, circular economy could yield at least $26 trillion in global economic benefits by 2030. In Australia, investment in renewable energy is projected to exceed $186 billion by 2050, driven by the rapid expansion of wind and solar power. By that time, these renewable sources are expected to contribute 92% of the country's total electricity generation, reflecting Australia's commitment to transitioning toward a sustainable and low-carbon energy future.

Advance Cairns CEO Jacinta Reddan said Cairns enjoys the unique advantages of being next to the world’s most precious natural assets. “Our region’s potential to tap into the multi-billion-dollar global market of sustainable investment is real,” she said.

Cairns Mayor Amy Eden (also pictured above) said the region was rich with world-class tropical expertise and innovation. “We’ve got the expertise, innovation, and the green capabilities to match, with our smart green economy leading the transition to low-carbon, nature-positive practices.”
“Our location also provides unparalleled access to trade and international travel.” (Amy Eden, 2024).

The Smart Green Economy concept consists of three main clusters, underpinned by knowledge and expertise across sectors, which represent the greatest opportunity to unlock economy-wide value. They are:
1. Net zero energy systems
2. Circular economy activation
3. Biodiversity & carbon markets

The project aims to identify opportunities that are likely to:
• attract and stimulate private investment.
• support sustainable economic growth.
• generate employment; and
• and deliver economic diversification and resilience in the region.

Click here to find out more about Smart Green Economy.

Issued December 2024

Image: Jacinta Redden & Mayor Amy Eden. Credit: Cairns Regional Council.