Unlocking Asia-Pacific as a First Mover 2025
Page 53 of 60 · WEF_Unlocking_Asia-Pacific_as_a_First_Mover_2025.pdf
14. The Hon Chris Bowen MP , Minister for Climate Change and Energy. (2025, 18 September). Joint media release: Setting
Australia’s 2035 climate change target [Press release]. https://minister.dcceew.gov.au/bowen/media-releases/joint-
media-release-setting-australias-2035-climate-change-target.
15. Sources:
– BCG Situational Analysis (unpublished, 2025), citing: Graham, P ., Hayward, J. and Foster J. (2024). GenCost 2023-24:
Final report. Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia. https://www.csiro.au/-/
media/Energy/GenCost/GenCost2023-24Consultdraft_20231219-FINAL.pdf.
– Reuters. (2025). Australia boosts underwriting scheme for renewables to meet clean energy target. https://www.
reuters.com/sustainability/climate-energy/australia-boosts-underwriting-scheme-renewables-meet-clean-energy-
target-2025-07-29/.
16. Australia Minerals. (2023). Australian Magnetite Ore 2023 Factsheet. https://www.australiaminerals.gov.au/__data/assets/
pdf_file/0004/176116/Australian-Magnetite-Ore-2023-Factsheet.pdf.
17. Department of Climate Change, Energy, the Environment and Water, Australian Government. (2025). Net Zero.
https://www.dcceew.gov.au/climate-change/emissions-reduction/net-zero.
18. BCG Situational Analysis (unpublished, 2025).
19. Climate Energy Finance. (2024). Green Metal Statecraft: Forging Australia’s Green Iron Industry.
https://climateenergyfinance.org/wp-content/uploads/2024/11/CEF_Green-Metal-Statecraft_FINAL.pdf.
20. Australia Minerals. (2023). Australian Magnetite Ore 2023 Factsheet. https://www.australiaminerals.gov.au/__data/assets/
pdf_file/0004/176116/Australian-Magnetite-Ore-2023-Factsheet.pdf.
21. Geoscience Australia, Australian Government. (2023). Iron Ore. https://www.ga.gov.au/scientific-topics/minerals/mineral-
resources-and-advice/australian-resource-reviews/iron-ore.
22. Geoscience Australia, Australian Government. (2023). Iron Ore. https://www.ga.gov.au/scientific-topics/minerals/mineral-
resources-and-advice/australian-resource-reviews/iron-ore.
23. Institute for Energy Economics and Financial Analysis (IEEFA). (2022). Iron Ore Quality a Potential Headwind to Green
Steelmaking. https://ieefa.org/sites/default/files/2022-06/Iron%20Ore%20Quality%20a%20Potential%20Headwind%20
to%20Green%20Steelmaking_June%202022.pdf.
24. Nicholas, S. (2025). In 2025, Australia needs to accept that its iron ore and coal markets are changing permanently…
and gas is not a solution. Institute for Energy Economics and Financial Analysis (IEEFA). https://ieefa.org/resources/2025-
australia-needs-accept-its-iron-ore-and-coal-markets-are-changing-permanently-and.
25. International Energy Agency (IEA). (2024). Definitions for Near-Zero and Low-Emissions Steel and Cement, and
Underlying Emissions Measurement Methodologies. https://www.iea.org/reports/definitions-for-near-zero-and-low-
emissions-steel-and-cement-and-underlying-emissions-measurement-methodologies.
26. Institute for Energy Economics and Financial Analysis (IEEFA). (2022). Fact Sheet: The facts about steelmaking,
Steelmakers seeking Green steel. https://ieefa.org/sites/default/files/2022-06/steel-fact-sheet.pdf.
27. This target is based on guidance from the International Energy Agency (IEA). Source: World Economic Forum. (2025).
First Movers Coalition – Steel commitment. https://reports.weforum.org/docs/WEF_First_Movers_Coalition_Steel_
Commitment.pdf.
28. Kavalsky, L. & Viswanathan, V. (2024). Electrowinning for Room-Temperature Ironmaking: Mapping the Electrochemical
Aqueous Iron Interface. The Journal of Physical Chemistry C, Vol. 128/Issue 35. https://pubs.acs.org/doi/10.1021/acs.
jpcc.4c01867.
29. Midrex. (2025). Is CCS a Solution for Iron and Steel? Only in the Right Conditions. https://www.midrex.com/story/is-ccs-
a-solution-for-iron-and-steel-only-in-the-right-conditions/.
30. Institute for Energy Economics and Financial Analysis (IEEFA). (2025). Australia’s green iron and steel race – Global
competition leaves no time to wait for technology. https://ieefa.org/articles/australias-green-iron-and-steel-race-global-
competition-leaves-no-time-wait-technology.
31. Institute for Energy Economics and Financial Analysis (IEEFA). (2025). Australia’s green iron journey: Racing against time,
waiting on technology. https://ieefa.org/sites/default/files/2025-05/BN_Australia%E2%80%99s%20green%20iron%20
journey-%20Racing%20against%20time%2C%20waiting%20on%20technology.pdf.
32. Fortescue. (2025). Iron Bridge. https://www.fortescue.com/en/what-we-do/our-operations/iron-bridge.
33. Argus Media. (2025). W Australian bill to help green Fe, renewable energy. https://www.argusmedia.com/en/news-and-
insights/latest-market-news/2729620-w-australian-bill-to-help-green-fe-renewable-energy.
34. Institute for Energy Economics and Financial Analysis (IEEFA). (2025). Australia’s green iron and steel race – Global
competition leaves no time to wait for technology. https://ieefa.org/articles/australias-green-iron-and-steel-race-global-
competition-leaves-no-time-wait-technology.
35. Fortescue. (2025). Green Iron Metal Project. https://www.fortescue.com/en/what-we-do/our-growth-projects/green-
metal-project.
Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity
53
Ask AI what this page says about a topic: