Queensland Renewable Fuels Association (QRFA) and the World Business Council on Sustainable Development (WBCSD) have welcomed the Queensland Government's signing of the below50 campaign at Parliament House in Brisbane.
The Queensland Government were the first jurisdiction in the World to sign on to the low-carbon emissions initiative, highlighting their commitment to a more sustainable fuel industry for the State.
below50 is a global campaign of WBCSD promoting the production and implementation of fuels which produce 50% less CO2 emissions compared to traditional fossil fuels.
Coupled with the biofuel mandate, the move further promotes the State's biofuels industry, looking to capitalise on a gap in the Asia-Pacific to make Queensland a regional biofuels hub.
At the BIO World Congress in Philadelphia earlier this year, Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick on behalf of the Queensland Government signed onto below50.
The choice to re-sign the agreement on home soil reiterates the Government's commitment, while showing the significance of such a development.
As the regional hub host of below50 Australia, QRFA have been driving a low-carbon fuel economy and promoting further uptake of sustainable fuels for the State and Australia.
QRFA Managing Director Larissa Rose, who opened proceedings on the night, spoke about the opportunities that the continued development of the State's biofuels industry brings.
"Queensland is in prime position to become a world leader in renewable and biofuels, with its large agriculture sector, its proximity to Asia, and possessing State Government backing," Ms Rose said.
below50 Global Lead and WBCSD Transport Manager Damiana Serafini along with below50 Senior Advisor Gerard Ostheimer travelled to Brisbane from Switzerland and United States respectively, for the agreement with the Queensland Government.
At the event, Gerard Ostheimer discussed what the agreement meant for Queensland, and its global importance.
"The core aim of below50 is to translate high level interest in reducing GHG emissions into concrete, on-the-ground interest," Mr Ostheimer said.
"By partnering with the Queensland Government, we recognise their global leadership and commit to working together in very practical ways to realise a vibrant Queensland bioeconomy."
Furthering below50's work, Damiana Serafini talked of the steps being taken to decarbonise transport internationally and domestically.
"The WBCSD is developing a global strategy for low emissions freight," Ms Serafini said.
"An integral part of the strategy is the local implementation of global solutions under proper incentives."