Sustainability key for winning 2032 Brisbane Olympics contract

Insights from the Queensland Procurement Strategy 2032

The Queensland Procurement Strategy 2032 (Q2032) provides a clear opportunity for enterprises to secure their role in the Queensland Government's future projects, including the exciting Brisbane 2032 Summer Olympics.

It is also an opportunity to position yourself as a leader, pioneering sustainable business transitions within a competitive market. In fact, Q2032 considers a sustainable transition for enterprise a necessary component in becoming 'match-fit' for the 2032 Olympic Games.

That isn’t surprising, given that the clock is ticking towards the deadlines of both Queensland and Federal low emissions targets. Savvy business leaders will recognise that early action holds the key to sustainable success. 

Start your ESG journey now

Establishing emission reduction and circular economy targets requires time and careful planning. Companies that begin their journey now are poised to be 'match-fit for 2023,' ready to seize tender and grant opportunities for the Games ahead of the pack. As the nexus between sustainability and competitiveness strengthens, early movers stand to gain the lasting advantage.

Embrace low emissions for Olympic tender consideration

Integrating Environmental, Social, and Governance (ESG). ESG considerations into business operations has moved beyond a trend to become an essential aspect of business resilience and success.

At the core of the Q2032 Procurement Strategy lies an ambitious goal – the realisation of a climate-positive and zero-waste Olympic and Paralympic Games. This goal has led to a big shift in the criteria governing Queensland Government tender selections. For the first time, businesses must demonstrate their own sustainability commitments for their tenders to be considered. 

More than 80% of emissions associated with hosting the Games are expected to come from supply chains, so it is unsurprising that Q2032 prioritises sustainable procurement. This recognises businesses and organisations acting as suppliers as pivotal partners in achieving these ambitious climate and circularity targets. It is a strategy that fosters collaboration towards a common goal, akin to the Olympic spirit.

Most notably, Q2032 stipulates that existing suppliers are urged to embrace custom emission reduction and circular economy targets. New suppliers who are already taking action in this area will be prioritised. The Queensland Government is looking for businesses that support local, sustainable, ethical and diverse outcomes in their practices, and have the capacity to secure the required certifications and accreditations to validate their qualifications.

The report emphasises that partnership with Team Queensland requires a leadership approach to sustainability from suppliers in order to win business. Beyond the pursuit of tenders, this sets the stage for companies to fortify their competitiveness and pioneer the evolution towards a more sustainable economy.

Leverage grants funding in your sustainability strategy

Both the Queensland and Federal Governments have allocated large pools of grant funding towards projects in priority industries that enable the transition to a low emissions economy and achieve Australia’s emissions reduction target of net zero by 2050. The recent release of Queensland’s New-Industry Development Strategy as well as Critical Minerals Strategies at both levels of Government indicates that investment in renewable energy, battery technologies, critical minerals and circular economy will continue to be Budget priorities over the coming years.

This means that an investment in innovative clean energy and circular economy projects is therefore not only a strategic choice from a regulatory standpoint, but also a timely opportunity for Queensland businesses to leverage government support to remain competitive and at the forefront of the net-zero transition.

Grant funding available to Queensland businesses is broadly grouped under three categories:

• Support for decarbonisation of high-emitting sectors, such as the mining, oil and gas, manufacturing, transport, waste, cement and aluminium industries
• Investment in development of innovative renewable and low emissions technologies, such as:
  • Innovative electric vehicle charging solutions
  • Processes for converting hard-to-recycle materials into manufacturing inputs
  • Low-cost technologies required for clean hydrogen production, storage and transport
  • Low emissions production of steel and iron
•  Developing sovereign supply chains and capabilities in key enabling technologies for the net-zero transition, such as establishing end-to-end onshore battery supply chains.

These categories provide a snapshot of the current funding landscape for Queensland companies investing in sustainability, but are far from comprehensive. If you’re a business planning significant projects with economic benefits outside your organisation, it’s worth ensuring that you’ve investigated available grant programs and developed a grant funding strategy to ensure your business is targeting opportunities which offer the funding you need.  

RSM can help your business qualify for 'Team Queensland'

The Q2032 Procurement Strategy is not just a vision; it's a call to action asking leaders to steer their organisations towards a greener future of low emissions, circular economies, and robust ESG practices. Qualifying for ‘Team Queensland’ places your company in the best possible position to win business opportunities associated with the Brisbane Summer Olympic Games. It will require integrating ESG into your business operations to account for local, sustainable, ethical and diverse outcomes.

ESG can be difficult to navigate – particularly when determining which policies or guidelines apply to your organisation, how to accurately measure your carbon footprint and where to find areas to improve. Working with an ESG consultant is a great way to simplify the process and ensure every action you take is giving you the best chance of success while maximising stakeholder outcomes. 

RSM’s expert ESG team provide a comprehensive range of consulting services designed to strengthen and streamline ESG considerations into your business operations. We are dedicated to supporting enterprises of all sizes on their sustainable business journey. Our ESG services will help you:

• Set personalised emissions reduction targets and craft a robust emissions reduction plan,
• Evaluate and proactively manage your business's exposure to climate change risks,
• Explore new avenues for business expansion within a low carbon future,
• Delve into renewable energy possibilities,
• Address modern slavery concerns,
• Align with Ethical Supplier Mandate and Ethical Supplier Threshold, including ensuring equitable wages for individuals with disabilities,
• Comply with animal care and protection regulations and associated requisites, 
• And so much more...

Our team is poised to offer expert guidance and insights in this area – reach out today!

ESG strategies with lasting impact

Beyond the immediate gains of tender eligibility and financial support, a comprehensive ESG strategy offers long-term advantages. Companies committed to ESG principles bolster their resilience to contend with a changing regulatory landscape. Adopting ESG also helps to cultivate a motivated and conscientious workforce, and enhance your brand value.

 Further ESG benefits include: 

• Readiness for new policies 
• Advanced reporting capabilities
• Effective data management
• Assurance for leadership
• Public confidence, and
• Investor confidence in government bonds 

Ultimately, the rewards will far outweigh the effort required to bring your business in line with anticipated ESG changes. By prioritising these considerations, you will not only align with the Q2032 Procurement Strategy but also build a legacy of sustainability for your business and community.

FOR MORE INFORMATION

To learn more, please contact our specialist ESG and Climate Services team in Brisbane, Jacob Elkhishin on (07) 3225 7819. To learn how our Government Grants team can assist you in applying for grant funding or develop a grant funding strategy to support your sustainability project, please contact Dr Rebecca Barnes on (08) 8214 7944.