Australia is swooping in for a larger share of the green aviation industry with the Queensland Government confirming it is seeking to dominate the market and has already held talks with airlines, energy firms and suppliers to secure its position.
Queensland Deputy Premier Steven Miles revealed details of the roundtable involving Qantas, Virgin, Ampol, BP and other agencies on Wednesday, detailing the state's ambitions to become "the national leader" in a potential $3 billion industry.
The government meeting follows BP's announcement that it would produce sustainable aviation fuel in West Australia by 2025, and commitments from major airlines to use the greener fuel to achieve net-zero emissions by 2050.
Mr Miles said the aviation industry would need "green jet fuels... in large quantities" to achieve its environmental goals and Queensland was well-placed to produce them.
"Queensland is recognised internationally as one of the best locations in Australia for a supply chain with huge potential due to our rich supply of feedstock such as sugarcane and tallow," he said.
"If we get this right, Queensland could be producing and distributing green fuels across domestic and international markets, reaping huge economic and environmental benefits."
The market, he said, could be worth $3 billion a year and create 15,600 jobs in Australia by 2050.
The government roundtable was held on November 25 and included representatives from the aviation industry including Boeing and Brisbane Airport Corporation, as well as airlines, energy suppliers, and feedstock providers such as Canegrowers and the Australian Sugar Milling Council.
The discussions come after Oceania Biofuels announced plans to build a $500 million commercial aviation fuel bio-refinery in Gladstone, and BP revealed it would produce sustainable aviation fuel near Perth after refitting an oil refinery.
The facility in Kwinana, Western Australia, is expected to begin producing aviation fuel by 2025.
Sustainable aviation fuel is created using materials such as cooking oil, forestry and food scraps, paper and plants and can save up to 80 per cent of carbon emissions compared to traditional jet fuel.
The green fuel, which is blended with jet fuel, has become a key solution to reducing airline emissions.
Qantas, for example, has committed to using 10 per cent sustainable fuel and more fuel-efficient planes to cut its carbon emissions by 25 per cent in 2030.
Both Qantas and Virgin have committed to meeting the aviation industry standard of net-zero emissions by 2050, which will rely heavily on sustainable aviation fuel.