Statement on Australia’s 2030 Emissions Target

Australia’s 2030 target and our commitments under the Paris Agreement have recently been in the news.

Statement by Erwin Jackson, Managing Director Policy, Investor Group on Climate Change (IGCC):

“Investors have a legal obligation to protect the retirement savings of millions of Australians. They can only do this with a fast, fair and well-planned transition to net zero, which will provide a better life for all: cleaner, greener and healthier communities, and more money to live comfortably.

The Paris Agreement and its national emissions targets have already mobilised billions of dollars towards new clean, job-creating industries.

Back-flipping on these commitments and withdrawing from the Paris Agreement would corrode investor confidence at a time when Australia is competing for funding for new technologies and clean industries, local jobs and training opportunities.

Investor confidence is only now starting to recover from decades of climate policy chaos. Investors urge all Parliamentarians to stay the course and set emissions targets with the highest level of ambition.

With some of the best solar, wind and mining resources in the world, Australia has all the ingredients to power our homes and our economy for generations to come. By governments supporting ambitious clean investment, we can harness our economy’s full potential.”