By Rich Bowden:

Technology giant Siemens has called for an $83 billion investment from business and governments over the next ten years to ensure Australia’s water and renewable energy future.

The report, Picture the Future: Australia – Energy and Water (PTF), released earlier this week, calls for$60 billion funding over the next decade for renewable and low-carbon technologies to reduce reliance on carbon intensive energy and $23 billion to invest in water infrastructure to ensure water supplies for all Australians.

The study was the culmination of research carried out by Siemens scientists in both Australia and Germany with the assistance of the CSIRO, ABARE, the Bureau of Meteorology, The Clean Energy Council, University Technology Sydney, The University of Newcastle, Monash University, Parsons Brinckerhoff, South East Water, and The Warren Centre for Advanced Engineering, said a March 22 news release from the company.

Albert Goller, chairman and MD of Siemens Australia, said in a statement that investment in technology had the potential to ensure the country will overcome current challenges.

“We have many enviable opportunities in Australia such as our abundance of natural resources, and Australia has the potential to be at the forefront of technology,” said Mr Goller. “Even the possibility of being a net exporter of clean electricity is realistic for Australia. Implementing technologies will not only help create a sustainable future, but also new skills and job opportunities in remote regions, whilst providing economic growth.”

He added that investment in water infrastructure would ensure both rural and urban water supplies.

“We have the technology to ensure water is always available in urban areas; we can assist Mother Nature in restoring natural inland water resources; and we can ensure our crops feed the growing population through best practice farming and irrigation.”

When asked if he believed business would agree to the earmarking of such a sum he replied:

“I don’t think that they have a problem,” Mr Goller said to AAP. Just on the weekend I was with one of the managing directors of one of the leading oil companies of the world, you would not believe how intensive they are and involved in sustainability and they want to look for alternatives.”

Speaking at the launch of the report on Monday, the CSIRO’s Paul Graham said such an investment could help reduce Australia’s greenhouse gas emissions by up to 80 per cent by 2050, reported Business Spectator.

Tags: picture the future, renewables australia, siemens australia, water supply australia