Last month's budget saw the Federal Government unveil its A Future Made in Australia initiative.

This ambitious plan marks a significant shift, aiming to transform Australia from a resource-heavy economy to a global leader in innovation and sustainability.

The strategy moves Australia away from its traditional reliance on exporting raw materials, towards integrating industry and trade policies with strict environmental goals. It is a direct response to the pressing climate challenges, aimed to establish Australia as a net-zero emission economy with a thriving, self-reliant industrial base. This is not just about making the economy green; It’s about making green initiatives economically viable on a global scale.

The Future Made in Australia model sees strategic government investments guide economic activities instead of market-led decisions. This approach mirrors efforts in the US and Europe, positioning Australia not just to compete but to lead internationally by capitalising on its natural assets.

Implementing such a transformative agenda will demand an agile and highly skilled workforce. Although the budget allocates substantial funds for enhancing digital capabilities and developing areas such as quantum computing and satellite technology, one could question whether these provisions are enough. These sectors will require a strong foundation of innovation, supported by a business sector ripe for research and development.

This transition also requires a seismic knowledge shift to meet the demands of a clean energy economy. This involves not only equipping workers with skills relevant for today’s technologies but also ensuring they are adaptable to future innovations. Increased focus – as we saw in the budget – on vocational education and targeted diversity programs within STEM fields are steps towards this goal.

Engineers are expected to be at the forefront of this shift, equipped with new skills in sustainability and digital technologies. Feedback from the industry and experiences of Engineers Australia members indicate that while some skills will transfer directly, various degrees of upskilling or reskilling will be necessary. Engineers Australia is currently undertaking research to understand the extent of engineering skill transferability and to determine the best ways to support the profession during this transition.

Comprehensive regulatory and policy reforms will also be crucial for supporting A Future Made in Australia. These reforms must facilitate the swift and smooth development of renewable energy sectors by streamlining infrastructure deployment and simplifying approval processes, while also creating economic incentives for sustainable practices.

The government must also address concerns of “picking winners” and that the policy could be exploited for political gains. It is essential it has access to professional, balanced advice and robust structures to assess risk and feasibility.

The sustainability integration aspect of the initiative is equally critical. The success of Future Made in Australia will largely depend on its ability to weave sustainability into all facets of policy and implementation, managing the environmental impacts of new industries to ensure that economic growth is achieved without compromising the environment.

A Future Made in Australia represents a commitment to a resilient and prosperous future, driven by innovation and sustainability. If Government, industry, academia, and the broader community support this blueprint, Australia can emerge as a leader in global sustainability and technological innovation and create a legacy for future generations.

 

By Romilly Madew, CEO of Engineers Australia

 

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