Summit of the Future and Australia's opportunity

On the eve of the Summit of the Future its a good time to reflect on where we are at, and where we are going.

The United Nations' Summit of the Future aims to accelerate efforts to meet our existing international commitments and take concrete steps to respond to emerging challenges and opportunities.

This will be achieved through an action-oriented outcome document known as the Pact for the Future. At the opening of the Summit, world leaders are expected to adopt the Pact, which will include a Global Digital Compact and a Declaration on Future Generations as annexes.

Amid these progressive discussions, Project 2025—a conservative think tank blueprint—aims to reshape the U.S. federal government by reversing many of President Biden’s climate policies. Unveiled at the Republican National Convention, this 900-page plan targets environmental agencies, promotes fossil fuel development, and seeks to repeal key legislation like the Inflation Reduction Act. Such changes could hinder renewable energy investments and disrupt environmental regulations, posing a setback for U.S. climate action.

As these ideological battles unfold, COP29 in Azerbaijan will take place concurrently with the American Presidential elections in November. The focus will be on financing climate actions and advancing the agreement from COP28 to transition away from fossil fuels.

In this turbulent landscape of potential and pitfalls, Australia must navigate its path forward. CEOs increasingly recognize sustainability as core to resilience, seeing the green transition not just as risk avoidance but as a driver of innovation, productivity, and competitive advantage. Australia's resource-rich economy is poised to excel in green extraction, renewable energy, and biodiversity stewardship, with significant global demand for these technologies.

Effective policies, government support, and collaboration between industry, government, and communities are crucial. Despite the clear vision of a green economy, the path forward requires robust technical support and better quantification of the green economy's economic impact.

As the IPCC emphasizes, achieving a climate-resilient, sustainable world necessitates fundamental societal changes, including shifts in values, ideologies, social structures, and political and economic systems.

It’s time for Australia to step up, remain influential, and drive transformative change.

Join us at Uniting Business Live to deep dive into how we will achieve this change.