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Global trends affecting the resources industry

The world will change dramatically over the next three decades. In particular, there are six major trends that will reshape Queensland’s resources industry:

Decarbonisation

Decarbonisation will continue to reshape commodity demand as the world seeks to address and limit the impacts of climate change by reducing emissions.

Corporate social responsibility

Corporate social responsibility considerations will increasingly influence investor and customer decisions as they seek ethical investments and products.

Together, demonstrable decarbonisation and corporate social responsibility actions are largely the environmental, social and governance (ESG) factors that investors and markets are considering when making investment and supply decisions. Transparent and independent demonstration of ESG credentials is becoming increasingly required to operate competitively as a jurisdiction and in business.

Resources scarcity

Resources scarcity
The growing scarcity and complexity of access to quality resources will drive companies to change their way of doing things, including shifting from simply extracting minerals to processing—and even reprocessing—minerals as part of emerging circular economy business models.

Indo-Pacific demand

An increasing consumer base in the Indo-Pacific will further increase demand for Queensland’s resources.

Geopolitical instability

Geopolitical instability due to conflicting economic and political ideologies will increasingly have impacts on international trade and supply chains. Queensland’s reputation for stability and supply reliability will benefit Queensland in an unpredictable geopolitical environment and drive onshoring of value-adding supply chains.

Innovation

Emerging innovation
Emerging innovations will make mining safer, more productive and digitally focused, creating opportunities in mining equipment, technology and services (METS) and affecting employment patterns.
Last reviewed 19 August 2022