Investors Urge Broad Political Support For Acceleration Towards Net Zero At 2050

The Australian investors who have responsibility for managing more than 15 million Australians’ retirement funds and savings are absolutely clear that the country needs to stay the course and accelerate our transition to net zero.

The broadest possible political support for the 2050 net zero target will ensure investment in the supply of new energy generation, keeping downward pressure on prices and protecting households and businesses from the disruptions in our aging fossil fuel infrastructure.

Setting Australia on course for higher emissions would mean higher costs to governments and Australians from natural disasters and a failure to seize the economic opportunity of an orderly transition.

Until the global economy reaches net zero emissions, the climate will not stop warming and becoming more dangerous. More frequent floods, fires, and droughts will worsen economic damage and disruption, via downturns to productivity, food supply, community health and the stability of the systems we rely upon. Australians will experience the loss in their superannuation balances and across their financial lives.

So, Australia must participate in that global effort to cut emissions.

Indeed, we can and should set ourselves up to thrive in a net zero global economy: Australia has abundant solar and wind resources, critical mineral supply, and a high-quality workforce; the key elements we need to grow jobs, businesses, and deliver widespread economic advantage.

Broad political support signals to businesses and investors that Australia has a commitment to the growth of new clean industries and jobs, unlocking investment and mitigating national economic risk from declining global fossil fuel demand.

Quote From Francesca Muskovic, IGCC’s Executive Director, Policy.

"Investors want to see broad political support for net zero by 2050, as well as the much stronger policies that are needed to accelerate the country’s rollout of renewable energy and clean industry.

"Until we reach net zero, floods, fires and droughts will become worse, productivity, food supply and community health will go down, and Australians will experience those losses in their superannuation balances and across their financial lives.

"Broad political support for accelerated climate action signals to businesses and investors that Australia has a commitment to new renewable energy supply, clean industries, unlocking investment and mitigating national economic risk from declining global fossil fuel demand."

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