A NEW NORMAL

MELBOURNE

Sydney

,

Adelaide

Brisbane

Perth

Melbourne sits on Wurundjeri Woi-wurrung Country, on flat land where the Birrarung meets the bay. The city is 188 years old, the land is 60,000 years old. It became Australia's second-largest city, a tram city, a brick city, and a cultural capital.

AND, IT’S THE CITY THAT BURNS MORE GAS THAN ANY OTHER IN AUSTRALIA.

1.4 million homes still on imported fuel. A building stock that's 95% already standing, leaking energy through uninsulated walls. Most of the city's rainwater flushed to Port Phillip Bay before a tap gets to it. Commercial offices that will be stranded assets inside a decade. The technology to fix every one of these already exists. The buildings to prove it are already up. The capital is available.

So what's the holdup?

BY 2038, THE CITY RUNS ON ITS OWN RESOURCES.

2026

Nothing has been invested just yet. Therefor no jobs have been generated as of today. WE still run on 38% renewable energy - the rest burns gas and coal. Only 5% of our buildings hit net-zero. We reuse 12% of our water, and divert 38% of our waste from landfill.

Nothing has been invested just yet. Therefor no jobs have been generated as of today. We still run on 38% renewable energy - the rest burns gas and coal. Only 5% of our buildings hit net-zero. We reuse 12% of our water, and divert 38% of our waste from landfill.

2030

$40 billion has been invested, and 45,000 people are at work on the transition. We run two-thirds renewable. One in five buildings is net-zero. A quarter of our water is reused, and 60% of our waste avoids landfill.

2034

$90 billion has been invested, with 100,000 people working on the transition. The grid runs at 90% renewable. Two in five buildings are net-zero. We reuse 40% of our water, and divert almost 80% of our waste..

2038

$140 billion has been invested, and 134,000 long-term jobs now sustain the city. The grid is fully renewable. Six in ten buildings are net-zero. Half of our water is reused. 90% of our waste cycles back into the system.

~$140 BN over twelve years is roughly 3.3% of Australia's $4.2 trillion superannuation pool. The capital exists. What's missing is a credible vehicle to deploy it inside Australian cities.

At maturity the program generates ~$16 billion in annual income, energy sold, water recovered, leases on retrofitted buildings, waste turned into product. Each initiative pays back inside ten years on its own balance sheet.

90,600 construction jobs through to 2030 and 43,400 ongoing positions, built and embedded in the city. The investment case isn't theoretical, it's a payroll, a pipeline of buildings, and a return profile that competes with anything currently in market.

CAPITAL COST / $140 BN

Where the money goes

EXISTING BUILDINGS

32%

TRANSPORT SYSTEM

27%

WATER SYSTEMS

08%

CIRCULAR ECONOMY

09%

ECOLOGY

06%

NEW BUILDINGS

18%

SIMPLE PAYBACK / BY SYSTEM

Each pays itself back in under ten years

EXISTING BUILDINGS

7 YEARS

TRANSPORT SYSTEM

7 YEARS

WATER SYSTEMS

4 YEARS

CIRCULAR ECONOMY

8 YEARS

ECOLOGY

9 YEARS

NEW BUILDINGS

9 YEARS

SIMPLE PAYBACK / BY SYSTEM

Each pays itself back in under ten years

EXISTING BUILDINGS

7 YEARS

TRANSPORT SYSTEM

7 YEARS

WATER SYSTEMS

4 YEARS

CIRCULAR ECONOMY

8 YEARS

ECOLOGY

9 YEARS

NEW BUILDINGS

9 YEARS

A NEW NORMAL IS A TWELVES-YEAR PROGRAM TO RETROFIT MELBOURNE ACROSS SIX SYSTEMS, TWELVE INITIATIVES.

Victorian terraces, c. 1885, in Carlton on Wurundjeri Woi-wurrung Country. Brick walls, slate roofs, gas heating and gas cooktops. By 2038: same brick, same slate, but insulated, sealed and all-electric. 95% of Melbourne is already standing. 01 EXISTING BUILDINGS is the city's biggest lever, retrofits the climate strategy.