Key messages

•  The global shift from fossil fuels to low-cost, low-emission renewable energy is rapidly underway and a big opportunity for Australia.

•  Australia still relies on fossil fuels for domestic electricity production and exports. These jobs and assets could become stranded as the shift accelerates.

•  To make the energy transition work for Australia, renewable energy development needs to be accelerated.

•  This is a time for decisive national action that secures Australia's future by harnessing its low-cost, low-emission energy potential.

•  The energy transition is a big opportunity for Australia. It has world-leading renewable resources, such as solar and wind, that can service both the economy and trading partners.

•  Australia can remain a global energy supplier of choice by pivoting from fossil fuels to low- emission supply chains.

•  Australia's energy export industries must be redefined through national planning and coordination that identifies and nurtures a diversified portfolio of low-emission energy industries across energy commodities, services and value-added products.

•  The existing national energy policy and planning framework will need to be enhanced to increase investor confidence and ensure Australian homes and businesses benefit from affordable and reliable energy.

•  Rural and remote communities should have access to low-emission standalone power systems, which will reduce their energy costs and improve power reliability.

•  All Australians should share the benefits of the low-emission energy transition. Fully harnessing this renewable energy potential will enhance Australia's economic sustainability and support global resilience.