CLEAN ECONOMY IMPACTS Our research showed that establishing a project pipeline is complicated by the interconnected nature of cleantech businesses and circular economy businesses . The sharing of waste value chains and growing corporate commitments to the United Nations Sustainable Development Goals add to the complexity . The emerging ecosystem of the sustainability focused businesses requires more collaboration and adaption of existing design processes , governance , business case development and project financing systems . ⁶
This is a good point at which to clarify a few terms by providing their definitions . The circular economy tackles climate change and other global challenges like biodiversity loss , waste , and pollution , by decoupling economic activity from the consumption of finite resources . ⁷
The circular economy is based on three principles , driven by design⁸ :
• Eliminate waste and pollution
• Circulate products and materials ( at their highest value )
• Regenerate nature
Underpinned by a transition to renewable energy and materials , the circular economy is a resilient system that is good for business , people , and the environment . ⁹
Clean technologies ( cleantech ) are economically viable products , services and processes that harness renewable materials and energy sources , dramatically reduce the use of natural resources , and decrease or eliminate emissions and wastes . 10
So , to achieve a circular economy we must get better at bringing cleantech goods and services to market . The City of Greater Geelong has been a leader in cleantech market development for nearly ten years .
CURRENT STATE The City of Greater Geelong ( local council ) provides a business support program to develop markets for cleantech solutions . We do this by stimulating demand for cleantech solutions and working with local suppliers to respond to this increased demand .
The business support program has been operating since 2014 , delivering positive economic growth and sustainability outcomes for the Greater Geelong community . 11 Since 2014 the focus on circular economy at local , state , and federal government level has grown . The release of Recycling Victoria : a new economy by the Victorian Government in February 2020 , has enabled the City of Greater Geelong to highlight the circular economy related work we have been involved in , and do more of it . 12 The business support program is also in line with Geelong ’ s designation as a UNESCO City of Design 13 and the community-led 30 year vision for a clever and creative future . 14
The City of Greater Geelong provides cleantech business support to help businesses :
• Access grants for new , collaborative projects that stimulate the market ;
• Deliver activities to develop skills and capabilities ;
• Create innovative products through procurement ; and
• Share their success stories and learn from others .
Key activities include :
• Bringing new cleantech products to market by stimulating demand through Procurement for Innovation ;
• Inviting proposals for scalable cleantech demonstration projects ; and
• Exploring the creation of a cleantech precinct .
FUTURE STATE - FINDINGS FROM STAKEHOLDER ENGAGEMENT Feedback from industry , investors and enabling organisations provided strong support for the potential benefits of establishing Greater Geelong as a marketled Cleantech Centre of Excellence .
The investigation revealed a multiscale challenge for Geelong ’ s cleantech sector that suggests the most effective implementation of a Centre of Excellence will be more than just a single physical precinct .
Based on broad stakeholder consensus , it was recommended that the emerging cleantech market in the Geelong region will be best facilitated by innovating a network of connections at different scales . This systemic innovation approach means a Centre of Excellence would be most effective if it were a combination of initiatives such as :
• A virtual knowledge network to support new and emerging businesses
• A regional cluster of nodes and links to secure market leadership
• Precincts that co-locate mixed industry to leverage operational efficiencies
Our research showed that the goal is increasingly clear for Greater Geelong : community , government , business , and investors want to drive towards a thriving , resilient net zero economy . The cultural and regional advantages indicate that cleantech is an emerging industry that can underpin this shift . There is substantial momentum in the region , yet there remains a disconnect between the pace and scale of investable opportunities desired , and what is available in terms of supply chain connections , demand stimulation opportunities and investment . 16
Outcomes achieved from 2014-2021 15
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