Australia must aggressively court international technology giants seeking to construct multi-billion-dollar data centres, according to Climate Change Authority chair Matt Kean, who warns that excessive regulatory hurdles risk driving vital investment overseas.
Speaking on Friday at a Sydney event, Mr Kean argued that Australia possesses a unique competitive advantage in attracting global capital, pointing to the nation’s political stability and access to reliable energy.
“We should be rolling out the red carpet to them—this is one of the biggest investment opportunities that our nation has ever seen,” he told attendees at the Chartered Accountants Sustainability Conference. He noted that multinational tech firms and artificial intelligence providers are actively looking outside the United States for stable jurisdictions, placing Australia in direct competition with Europe and the Middle East.
Balancing Investment with Community Concerns
While advocating for the removal of “green tape” to fast-track these major digital infrastructure projects, Mr Kean emphasised the need for transparent, well-defined regulatory frameworks to manage community anxieties regarding environmental impacts and local amenity.
The debate comes at a critical juncture as a parliamentary inquiry investigates the broader economic benefits and potential risks of establishing artificial intelligence hubs nationwide. Concurrently, the federal government is reviewing submissions on proposed data centre regulations to balance rapid technological growth with public interest.
