Australia’s world-leading energy and resources sector: Riding the waves of volatility and embracing a post-COP21 world

Australia is known for its abundant and diverse resources, contributing around 9 percent of the country’s GDP. The country is the world’s largest iron ore exporter, soon to be world’s largest coal exporter, and by 2020 is expected to be the world’s largest LNG exporter. But will this dominant position remain the same in an era of price volatility and in the wake of the COP21 Paris climate agreement?

On February 26, the Global Economy and Development program at Brookings hosted The Hon Josh Frydenberg MP, Australia’s Minister for Resources, Energy and Northern Australia. Minister Frydenberg addressed what Australia is doing to ensure it remains a world leader on energy and resources, the continued importance of the U.S. and growing importance of Asian markets for energy and resources markets, and what the Paris climate change agreement means for Australia’s energy sector. Following the remarks, Brookings Senior Fellow Joshua Meltzer engaged the Minister in a one-on-one discussion.