Investor Response to First COP Agreement on Transition From Fossil Fuels
14 December 2023
The final outcome from COP28 was released on the 13th of December.
Erwin Jackson, Managing Director, Policy, said:
“A just and orderly phase out of fossil fuels in will help protect the long-term retirement savings of millions of Australians.
“Climate change damages to the economy, infrastructure and communities are well-recognised threats to financial stability, higher inflation and higher capital, insurance, food, and water costs.
“The economic opportunities from a just transition out of fossils to clean industry, renewable energy, next generation transport and green resources are significant. Investors are looking to deliver strong long-term returns for retirement savings and are hungry for investment opportunities in transition and clean industries.
“Investment grade sector decarbonisation and just transitions policies are needed to support investment in Australia and its vital regions. Investors are looking forward to working with governments, businesses, and communities to deliver a just and orderly transition out of fossil fuels.”