Energy Transition Working Group We provide members with the space and strategic direction to influence government policy and regulation regarding renewable energy. The group’s goal is to help unlock policy settings that will give new renewables projects the appropriate scale and risk-return profiles for investors to confidently allocate capital. Factors will include the supply, demand and exit considerations that are impacting the transition to a zero-emissions electricity system and clean exports. The sub-group was spun out of the main policy and advocacy working group in June 2023 Chair Ian Leiblich Head of ESG, EG Contact Bethany Richards Policy Junior Analyst Email Bethany The Clean Energy Investment Landscape $52b Federal and State/Territory governments' allocation for the energy sector's transition $420b estimated private investment required to transition the National Electricity Market 6GW additional capacity required annually until 2035* *based on the least-cost national emissions pathway. Global Competition for Capital Our members are struggling to find Australian projects that meet the scale and risk-return profiles available in other markets. To help Australia become a more investable market we provide our members with a clear understanding of renewable energy supply-side opportunities across Federal and State/Territory jurisdictions. A Just Transition As we decarbonise our energy system, Australia has the opportunity to provide security for portfolios, communities and companies. This includes understanding Australia’s exposure, via the fossil fuel export industry, to global emissions-reduction efforts, and assisting emissions-intensive regions to diversify their economies. Our Areas of Focus Supply Investment opportunities may involve developing and integrating renewables into a dynamic grid and a coordinated approach to commissioning generators and batteries during the shift away from traditional constant supply. Demand Providing investors with ways to support efficient energy use, renewable energy certificates, and household energy upgrades. Exit Supporting a transition away from fossil fuels while maintaining energy supply and minimising transition risks in domestic electricity systems and global exports. Latest Energy Transition News, Resources, and Events Statement on Australia’s 2030 Emissions Target 11 June 2024 Our statement on Australia's 2030 emissions target. AustraliaEnergy Transition Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Submission: Targets set the direction and pace of policy ambition Submission | Erwin Jackson and Bethany Richards | 21 May 2024 Key points Social licence is a significant factor in the successful adoption and implementation of any future climate policy. To fulfil obligations under the Climate Change Authority Act, the Authority should recommend the Government allocate at least $10 million a year to the Authority to undertake meaningful public consultation and Download AustraliaDecarbonising the EconomyEnergy Transition Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Submission: Targets set the direction and pace of policy ambition 21 May 2024 IGCC supports the Authority’s proposal to set a 1.5oC aligned target with the highest possible level of ambition. National targets and economic strategies that are aligned to 1.5oC will deliver the best long-term returns to investors and the retirement savings of millions of Australians. AustraliaDecarbonising the EconomyEnergy Transition Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Investors: “Budget Keeps Australia in the Clean Energy Race” 14 May 2024 Our statement on the Australian 2024 Federal Budget. AustraliaEnergy Transition Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Submission: Energy and Electricity Sector Plan to shape clean economy Submission | Bethany Richards | 24 April 2024 IGCC has long advocated for detailed sector by sector decarbonisation plans to support a least cost transition to net zero emissions. IGCC understands that these Sector Plans come at a time where a new 2035 Nationally Determined Contribution (NDC) will be set under the Paris Agreement. IGCC encourages the GovernmentDownload AustraliaDecarbonising the EconomyEnergyEnergy Transition Working GroupJust TransitionPolicy & AdvocacyPolicy & Advocacy Working Group