The City of Sydney has committed $29 million to support the establishment of the Greenhouse Climate Tech Hub, an ambitious climate action ecosystem in the Salesforce Tower at Circular Quay, Sydney. 

Designed to accommodate up to 500 ‘ecopreneurs’ working on climate tech solutions, the hub aims to contribute to 10% of Australia’s total emissions reduction targets by 2033, equivalent to removing at least 22 million megatonnes of greenhouse gas emissions per year.

The Tech Hub will provide programs that encourage connection, collaboration, and co-innovation between startups, investors, government agencies, climate action groups, researchers, and climate-aligned corporations. The City of Sydney’s contribution includes $7 million for the hub’s fit-out and $22 million in rent abatement over 10 years. 

“Sydney has a global reputation for innovation and entrepreneurship and has the highest concentration of startups in Australia. Businesses joining the tech hub will not only have the opportunity to accelerate their growth, they will be part of an industry that is set to play a critical role in the continued growth and economic success of wider Sydney and our national economy,” says Sydney Lord Mayor Clover Moore.

The Salesforce Tower, one of Australia’s greenest buildings, offers a 5.5 star NABERS Energy rating, a 6-Star Green Design and As-Built rating from the Green Building Council of Australia, and WELL core and shell Platinum pre-certification.

Councillor HY William Chan emphasized the importance of supporting Sydney’s ‘ecopreneurs’ by creating a co-located green innovation, investment, and commercialization hub. 

“We’re investing in the climate tech ecosystem, connecting ‘ecopreneurs’ and founders with venture capitalists and angel investors. We can create new jobs, stimulate economic growth, attract knowledge-based talent and contribute to the global effort to combat the climate emergency.” William says. 

The establishment of the Greenhouse Climate Tech Hub aligns with the City of Sydney’s Tech Startups Action Plan. By catering to the requirements of tech startups and constructing essential infrastructure and ecosystems, the plan seeks to bolster the city’s efforts in combating climate change and supporting the growth of emerging companies in the sector.

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