Australia's bid to co-host the 2026 UN climate change conference (COP31) with the Pacific is a nation-building opportunity to attract investment, reshape trade in Asia, drive stronger global climate action, and secure our place in the Pacific family, according to a new Climate Council and Smart Energy Council report. However, the bid needs to be secured by the Australian Government in the next few months to make the most of the opportunity.
Co-hosting COP31 would showcase Australia's own long-term net-zero transition and provide short-term economic benefits too. Newly revealed analysis shows COP26, held in Glasgow in 2021, delivered the UK a net benefit of more than AU$1 billion.
Winning Bid: The Pacific Partnership that Can Power Our Security and Prosperity highlights many benefits of co-hosting the climate talks, including:
- Injecting up to $210 million into the host city-equivalent to four AFL Grand Finals.
- More investment, growth and job creation within key industries like clean energy, green hydrogen, and critical minerals.
- Tapping into business and public enthusiasm within Australia, with a membership survey by the Smart Energy Council finding that 93% of businesses back the COP31 bid.
- Providing the greatest chance of cutting climate pollution around the globe coming at the middle of a 'make or break' decade.
Climate Council Chief Councillor Tim Flannery said: "Co-hosting the United Nations climate talks with Pacific island countries is a once-in-a-generation chance to broker a new era of global climate action and shore up global commitments to the international agreement on climate change. This would reinforce Australia's role as the security partner of choice in the Pacific, addressing the region's greatest threat: climate change."
Salā Dr George Carter, Climate Council Fellow, said: "For the Pacific, climate change is the greatest threat to their security and livelihoods; like many Australians, they are living with climate impacts. From Sydney to Suva to Majuro, all our communities are being pushed to their limits by worsening heat, bushfires, floods, storms, and rising seas. No household or community is immune.
"Presiding over COP31 in partnership with Pacific nations will show Australia's genuine commitment to tackling this challenge head-on. Our future safety and prosperity depend on driving down climate pollution this decade by shifting from fossil fuels to renewable energy, and ensuring climate finance reaches communities and households who are uniquely vulnerable to climate impacts. Together, we can lead the global charge for urgent climate action."
The Hon Annastacia Palaszczuk, International Ambassador of the SEC said:"As the Queensland Premier who kicked off the Jobs and Energy Plan that's transforming the Sunshine State's economy, it's clear to me that co-hosting the COP can do the same for our nation.
"Making the most of hosting the COP requires having a two-year runway, meaning the Australian Government must do all it can to lock the bid in this year."
International Director, Smart Energy Council Richie Merzian said: "Australia has everything it needs to become a renewable energy and critical minerals superpower, and the best global platform to demonstrate this transition is through co-hosting COP31 in 2026.
"As the biggest international trade fair and most influential talks on climate change, securing the event here will deliver enormous economic and security benefits for Australian interests immediately, and into the future."
