The paper "Current State of Sustainability in the Australian Energy Industry" is a perfect example of a business case study. Australia enjoys a significant benefit of abundant and diverse energy resources. The energy industry is ranked the ninth-largest globally with a three net energy exporter. As such, the industry has led to economic prosperity in Australia in the recent past. Essentially, between the years 2011-2012 the energy sector contributed to 25% of the total export value. Additionally, the industry provides employment opportunities to a large population of the Australian citizen.
(Carson & Bradshaw 2013) confirms that the industry has aided in the rapid growth of the infrastructures in the country. Simply put, the Australian energy industry, in particular, has a pivotal role in the economic growth of the country. It has significantly contributed to economic transmissions in the recent. In effect, the ministry of electricity and energy has provided financial support to help sustain this industry since it is an economic booster. Despite playing a pivotal role in the economic growth of Australia, the energy industry according to Carson & Bradshaw (2013) causes varied climatic changes in the country.
Various climatic changes caused by the emissions from this industry portray various challenges and implication to the economic existence of the industry. The natural environment supports almost all creatures in the world, in effect, factors that cause climatic changes pose short, medium and long term implications on life existence and the future sustainability of the energy industry in Australia. As such, this retrospect paper seeks to extensively discuss various strategic and climatic challenges that affect the energy industry, their implications and solutions. The Current State of Sustainability in the Australian Energy Industry Population growth in relation to energy consumption is a significant determinant of current and future sustainability of the energy industry as concluded in the study by (Rae 2012).
Climatic changes directly affect the existence of this vital energy that supports almost everyone in Australia. Essentially, just like any other business, the Australian energy industry has placed various considerations to help sustain its current and future existence. Firstly, the industry according to (RSERPP 2012) has invested in the reduction of greenhouse emissions by introducing energy targets.
Greenhouse gas emissions pose a threat to human existence since their health is put at stake. Secondly, (Passey 2015) concludes that the Australian energy industry has streamlined the process involved in planning and the approval of sustainable energy projects among all jurisdictions. The Australian energy after noticing widespread information from other associates that contribute to energy production, it decided to ease project implementations. Consequently, other organs such as the Wind Energy Association have an easy time in initiating any programs. This has ensured industrial sustainability as explained by (Brussels 2012) since it has a variety of other related energy production plants.
Given that the industry is a top economic contributor to the economic stability of Australia, it has to prove its business stability. As a result, the existence of various energy generation plants will help the industry to continue functioning even in diverse climatic changes like lack of water. Thirdly, the industry according to (Brussels, 2012) has ensured the existence of appropriate and economic incentives. Despite fully governmental support, the industry has other economic investments. The investments help in diverse periods such as delayed governmental economic disbursement.
These initiatives help the industry to run continuously without breaking down due to lack of capital. Essentially, unplanned climatic changes that tend to cause long term implications are handled properly since the industry has enough funds. Evidently, according to the study done by (Brussels 2012), the Australian energy industry proves present and future economic sustainability. It has economic incentives that help during emergencies