Australia is endowed with extensive natural resources including sedimentary basins suitable for geological storage of CO2. Under the Resourcing Australia’s Prosperity initiative, Geoscience Australia will build on over 20 years of research and pre-competitive data acquisition to develop a better understanding of Australia’s geological storage resource potential. This includes establishing the National Carbon Dioxide Storage Resource Atlas and developing an improved capacity to assess injectivity and whole of basin pressure management. In combination with policy efforts to enable transboundary movement of CO2, the outcomes of the initiative will further cement Australia’s role as a key regional hub for emissions reduction.