World Economic Forum First Movers Coalition – Adelaide workshop
The World Economic Forum’s First Movers Coalition (FMC) has concluded a landmark two-day workshop in Adelaide, Australia (20–21 August), bringing together senior leaders from government, industry, and finance, and Australia’s leading academic and research institutions to unlock Australia and the Asia-Pacific region’s potential as a first mover in clean industrial exports.
The workshop, Positioning APAC as a First Mover Region for Green Iron, sought to bridge supply and demand, foster models for regional cooperation, and set a roadmap positioning APAC as a global leader in decarbonized industry and green iron. It focused on the enabling policies, rapid technology advances and scalable finance solutions for clean industry needed to make this happen. Academic experts played a central role in highlighting breakthrough technology pathways, underlining the importance of research-driven innovation in achieving commercial viability at scale.
With iron and steel production responsible for up to 9% of global emissions, scaling green iron is critical to achieving net zero while unlocking billions in new clean industry investment and growth. Participants agreed that Australia and the broader APAC region are uniquely positioned to lead in supplying the low-emissions industrial materials of the future. The workshop also reinforced the huge economic opportunity for APAC with the potential to generate hundreds of billions in new export revenues, create high-quality jobs across the region, and cut up to 4% of global emissions if scaled. The discussions highlighted that capturing this opportunity will depend on APAC positioning itself as a trusted supplier of low-emissions industrial materials, underpinned by regional collaboration, shared standards and clear demand signals from international buyers.
Seizing this opportunity will depend on innovative policy frameworks, targeted investment, and strong collaboration across industry, finance, government and international partners. A critical next step identified was the early delivery of one or two lighthouse projects before 2030 – projects that can prove commercial viability, showcase breakthrough technologies at scale, and build investor and buyer confidence. Achieving early success would send a powerful market signal, reduce risk for future investments, and position the Asia-Pacific at the forefront of emerging green iron trade corridors.
Noam Boussidan, Head of the First Movers Coalition, World Economic Forum said: “The World Economic Forum’s First Movers Coalition was created to send a powerful demand signal for the breakthrough technologies needed to decarbonize heavy industry – and green iron is at the heart of that mission. At the discussions in Adelaide, South Australia, participants underscored the vast environmental, economic, and social opportunities for Australia and the Asia-Pacific to lead the way toward a net-zero future. Looking ahead to COP30 and COP31, the First Movers Coalition will focus on turning commitments into tangible action by working closely with all key stakeholders across the green iron value chain.”
Key themes from the Adelaide summit include:
- Due to growing global demand for low-emissions metals, Australia and the Asia Pacific (APAC) have a unique opportunity to be positioned as the first mover region in green iron production and supply.
- Australia is uniquely placed to utilise its natural endowment in iron ore, solar and wind power to secure a forefront position in green iron production and export.
- Strong industry collaboration and leading R&D remains critical in advancing multiple technology pathways for green iron through a technology neutral approach alongside government funds for project studies, design, and test pilots.
- While existing mechanisms and policy signals provide a solid foundation on which to build an enabling environment, additional capex grants and production tax credits are key to lower the green premium, attract investment in first-of-a-kind projects, and ultimately crowd in commercial lenders and institutional investors.
- Government support also remains fundamental to unlock critical enabling infrastructure, especially sufficient quantities of renewable energy and green hydrogen capacity, through streamlined permitting, pre-defined and approved easements in strategic locations, and public-private financing models.
- Similarly, government plays an important role in underwriting offtake by providing sufficient assurance to private investors, and in opening relevant markets including through public procurement requirements for green iron.
- Philanthropy can play a critical role by providing first-loss capital to early-stage projects and by supporting policy design and market-building efforts.
- Unlocking private demand will require credible certification based on global standards,
giving buyers confidence in the emissions footprint. Because supply chains are complex
and physical segregation is difficult, alternative carbon accounting methods may be needed, supported by technologies such as blockchain and AI to manage offtake agreements - Net benefits of low-emissions iron production, including community benefits and environmental impacts beyond steelmaking locations, should also be considered when devising the green iron strategy
- Coordinated action to enable 1–2 lighthouse projects can help build confidence, reduce risks, and unlock further sector investment.
Participants included senior representatives from across the clean industry ecosystem – spanning federal and state government agencies, iron ore and steel producers, energy and mining companies, financial institutions, investors, and international development banks. Australia’s leading universities and research institutions were strongly represented, underscoring their pivotal role in advancing clean technology breakthroughs. The workshop also engaged technology providers, trade and industry associations, civil society and philanthropic organizations, as well as international buyers, shipping and logistics companies, and climate initiatives from Asia, Europe and North America, alongside World Economic Forum partners.
The Adelaide workshop, delivered in partnership with the World Economic Forum’s First Movers Coalition, marked the third and final event in the Green Iron Summit series led by Greenhouse to accelerate the advancement of green iron across Australia and the APAC region. Supported by Boundless Earth, the series has built momentum across several key themes: the Perth summit focused on enabling final investment decisions; the Gladstone summit addressed sustainable development opportunities and regional delivery challenges; and the Adelaide event zoomed out to a regional and global lens, examining the systems, standards, and partnerships needed to position APAC as a first mover in clean industrial exports.
Harry Guinness, Chief Partnership Officer of Greenhouse said: “With decisive government action, Australia has the potential to create a $400 billion green iron export industry over the coming decades, built on our natural endowment of minerals, wind, and sun. Without comprehensive action, we risk losing this opportunity to global competitors, just as revenue from coal and gas faces terminal decline. The Green Iron Summit series has brought together dozens of Australia’s leading green iron proponents and demonstrated a broad commitment from industry, investors, policymakers, and international buyers to catalyse the next great Australian export industry.”
Eytan Lenko, CEO of Boundless Earth said: “We have a once-in-a-generation opportunity to put Australia and our region the Asia Pacific region at the forefront of clean industrial exports. The economic and climate benefits of green iron are huge. By producing green iron in Australia, we can help our partners cut 70–90 per cent of their steel emissions, while creating a new export engine for our region. Boundless is proud to be supporting this Green Iron Summit series through our Clean Exports Epic, because no country is better placed than Australia to help accelerate Asia Pacific’s decarbonisation. The question is not if we can build a green iron industry at scale, it’s how fast. Across the Asia Pacific region, we are building a coalition that can de-risk projects, connect buyers and sellers, and turn ambition into steel and iron on the ground. This is what public-private-philanthropic partnership looks like when it works. If we succeed, Australia and the Asia-Pacific region won’t just be a first mover. We’ll be the region that shows the world how to build the green steel industry of the future.”
Outcomes from Adelaide will now feed into discussions at the Clean Energy Ministerial in Busan and shape the agenda for the planned APAC Green Iron Summit in South Korea in 2026.
About the First Movers Coalition
The First Movers Coalition (FMC) is the leading global public-private partnership working to scale the most critical, emerging climate technologies required to decarbonize the world’s heavy-emitting sectors. The initiative was launched in 2021 by the Office of the US Special Presidential Envoy for Climate John Kerry and the World Economic Forum. FMC has become the world’s largest private sector demand signal for emerging climate technologies. Today, FMC includes 101 members who have collectively made over 125 commitments. By 2030, these commitments will represent an annual demand of $19 Billion for emerging climate technologies and 26 million tonnes (Mt) CO?e in annual emissions reductions.https://
About Greenhouse
Greenhouse is an Australia-based initiative accelerating climate innovation and clean industrial transformation and is Australia’s largest climate technology co-working space and climate action ecosystem. By connecting policy, finance and project development, Greenhouse helps shape Australia’s clean industry landscape. www.greenhouse.tech
About Boundless Earth
Boundless Earth is an Australian not?for?profit dedicated to ensuring the nation becomes a renewable energy superpower by 2030. Its vision is an Australia we can all be proud of – prosperous, powered by clean energy, and a global force in decarbonisation. Guided by this vision, Boundless accelerates climate solutions at the scale and speed required for Australia to do its fair share to avert the climate crisis, deploying a strategic mix of philanthropy, investment and direct advocacy. www.boundless.earth
INDEPENDENT NEWS IS IMPORTANT.
PLEASE GIVE WHAT YOU CAN: PayPal.Me/clevergreensolutions
Enjoy reading Eco Voice? Please help us by purchasing a GIFT Voucher or send one to a friend and encourage people to purchase trees or seeds via The Native Shop – www.nativeshop.com.au
Plants, seeds & more delivered to your door!
www.nativeshop.com.au
