Sustainable Finance Roadmap Is A Critical Step Towards Australia Being a Magnet for Capital

20 June 2024
IGCC has campaigned strongly for the roadmap.

The release this week of Treasury’s Sustainable Finance Roadmap is a critical step towards ensuring Australia attracts capital investment that maximises the vast opportunities in the nations’ clean industries.

IGCC and our members have steadfastly advocated for mandatory climate disclosures, clear sustainable finance taxonomies, and standards for corporate climate transition plans so that Australia remains an attractive investment destination.

Erwin Jackson, Managing Director, Policy, The Investor Group on Climate Change said:

“A fair, fast and well-planned transition is required to protect the retirement savings of millions of Australia from climate change damages and maximise our economic opportunities as a renewable energy superpower.

“The Sustainable Finance Roadmap provides a foundation for appropriate sustainability information to be reported across economy, which will help investors, regulators, and stakeholders form a comprehensive understanding of the economy’s climate risks and opportunities, fuelling investment in clean industry.

“Critically, the strategy flags future work on integrating climate adaptation into sustainable finance frameworks. Climate change is already costing the economy billions of dollars a year from extreme events fuelling insurance costs, disruption to businesses and communities and disaster recovery payouts.

“Clear financial frameworks to support private sector investment in climate adaptation are crucial to limiting the costs of escalating disaster recovery which takes money away from investment in education, community services and health.

“The Investor Group on Climate Change looks forward to working with the Government and Parliament to implement a world class sustainable finance strategy which can set the economy up for success today and for decades to come.”