Perth has enormous potential to be a world sustainability and green energy transition leader but needs to craft a global narrative to attract investors and visitors, according to RSM’s Powering Perth report.
The report from CCIWA’s Advantage Member features contributions from 19 Perth business and community leaders who share how the city could harness innovation, culture and talent to become a global powerhouse.
Critical common themes emerging from the timely report include the need to:
- Establish a clearer identity to sell Perth’s story to the world
- Build urban density to address housing shortages and enliven the city
- Value add and diversify to reduce reliance on mining and resources
- Supercharge energy transition to create a clean, green centre
- Attract the human capital required to ensure innovation in key areas
Diversification is key
“Perth is at a tipping point, with opportunities beckoning in housing, infrastructure and clean energy,” said Alasdair Whyte, Managing Partner of RSM in Perth.
“However, our clients tell us the city is facing serious pressures from multiple angles, concurrently.
“Perth must evolve quickly to capitalise on a shift beyond our reliance on mining and resources.”
Wesfarmers Chairman Michael Chaney, who contributed to the report, said while WA’s reputation for “digging and delivering” will remain for some time, the economy will evolve to be more services driven, which will support the resources sector.
“The government should support the development of rare earths and strategic minerals, including lithium, through production credits,” he said.
“A lot of solar and wind is required to replace all carbon-generated power. Renewables are necessary, but it’s going to be a progressive shift over decades.”
Chaney believed red and green tape and high labour costs could hinder WA’s ability to value add in the resources industry.
Huge tourism potential
Crown Resorts President and Group Chief Operating Officer David Tsai said in the report WA’s world-renowned beaches are massively underutilised.
“There is not anywhere you can sit on the beach and have a piña colada, or walk straight from a restaurant onto the sand,” he said.
“Most major cities that have beaches of our quality find ways to strategically monetise their beaches and drive tourism.
“Someone’s got to put their neck on the line to make change happen – that person could sit in government if they’re willing to make a tough decision and take all the criticism that comes with it.”
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