Aligning policies to achieve net zero emissions, managing the energy sector transition and building resilience to growing climate change impacts must be top priorities for Australia and New Zealand governments, the Investor Group on Climate Change (IGCC) said today.
IGCC represents institutional investors with total funds under management of over $2 trillion and its members cover over 7.5 million superannuation holders in Australia and New Zealand.
“We know that climate change is a systematic risk to investment returns, financial stability, communities and the economy,” said Emma Herd, CEO, IGCC. “The decisions we make today will have a material impact on the retirement savings of millions of Australians and New Zealanders.”
“Institutional investors are investing in zero carbon solutions and engaging with companies they invest in to ask them to do the same. Financial regulators expect industry to be managing for climate risks. Governments now need to do their part in delivering a net zero emissions and resilient economy.”
Policies for a resilient net zero emissions economy sets out what institutional investors see as the key policy priorities for the Australian and New Zealand governments over the period 2019 to 2022 (see infographic below for more details):
“The policies investors have outlined today are critical first steps to managing the substantial risks of climate change. They will also unlock multi-billion dollar investments in economic revitalisation and zero carbon modernisation.”
“Investors will work with governments to pursue a policy response that delivers a prosperous economy. To deliver investor confidence, governments must deliver credible and durable policy support for a net zero emissions and climate resilient economy,” Ms Herd said.