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Qld harnesses quantum tech for a sustainable future

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12 Jul, 2024

This post was originally published on Sustainability Matters

Queensland’s Miles government has announced a $50 million quantum technology program for the state, which among other objectives has the aim of speeding decarbonisation.

The $50m in funding covers five competitive grant programs directed at: aiding decarbonisation; enhancing quantum technology applications; attracting investment and collaboration; developing a skilled workforce; and promoting quantum-based innovations in sportstech in preparation for the Brisbane 2032 Olympic and Paralympic Games.

These five programs form part of the Queensland Quantum and Advanced Technologies Strategy, a $83.7m investment over five years laid out in the state government’s 2024–25 Budget. They include a $10 million Quantum Decarbonisation Mission to accelerate the development and application of quantum technologies with the potential to make significant contributions to decarbonisation.

“By establishing Queensland as the ‘Quantum State’, we lay the foundation for an economy that is resilient and innovative, poised to harness the full potential of quantum and advanced technologies for a sustainable and prosperous future,” said Queensland Chief Scientist Professor Kerrie Wilson.

Quantum science is the study of particles and energy at the sub-atomic scale. The applications of quantum technologies are wide-ranging and include computing, precision measurement, communications and health. Many fields stand to benefit from this technology, including environmental sustainability.

The Queensland Quantum and Advanced Technologies Strategy also encompasses compound semiconductors, superconductors, photonics and micro-electromechanical systems (MEMS). These technologies underpin the design and manufacture of quantum devices, but can also be useful for non-quantum products such as semiconductor-based components used in renewable energy applications.

“This budget allocation and the launch of these five grant programs affirms our commitment to advancing quantum technology and positioning Queensland as a provider of deep technology solutions for global opportunities and challenges,” said Minister for Innovation and Science Leanne Linard.

“These new grant programs further cement Queensland’s reputation as a global leader in quantum, attract and retain skills in quantum science and use quantum technologies to help solve challenges such as improved renewable energy technologies and combating climate change.

“I am particularly excited by the potential of this technology to accelerate Queensland’s decarbonisation efforts and make leaps in sports technology,” Linard said.

For more details on each of the five grant programs, visit: https://science.desi.qld.gov.au/industry/funding.

Image credit: iStock.com/sakkmesterke

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Government consulting on sustainable investment labelling

Government consulting on sustainable investment labelling

The Australian Government is starting consultation on sustainable investment product labelling, which is designed to give investors more confidence to put more capital to work in sustainable products.

The federal government said the release of this paper is a key step in implementing its Sustainable Finance Roadmap — designed to help mobilise the capital required for Australia to become a renewable energy superpower, modernising the financial markets and maximising the economic opportunities from net zero.

This consultation paper seeks views from investors, companies and the broader community on a framework for sustainable investment product labels.

These labels are designed to help investors and consumers identify, compare and make informed decisions about sustainable investment products to understand what ‘sustainable’, ‘green’ or similar words mean when they’re applied to financial products.

The government said a more robust and clear product-labelling framework will help investors and consumers invest in sustainable products with confidence and help tackle greenwashing.

This phase of consultation will run from 18 July to 29 August and help the government refine its design principles for the framework.

The consultation paper is available on the Treasury consultation hub.

Image credit: iStock.com/wenich-mit

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