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Australia Sustainable Finance Roadmap Targets Capital

The Investor Group on Climate Change (IGCC) has highlighted the release of the Australian Treasury’s Sustainable Finance Roadmap as a “critical step” towards ensuring the country attracts investment that maximises on opportunities offered by its clean industries. Released last week, the roadmap sets out the country’s vision for the implementation of key sustainable finance reforms and related measures. The IGCC and its members advocate for mandatory climate disclosures, clear sustainable finance taxonomies, and standards for corporate climate transition plans to ensure Australia remains an “attractive” investment destination. Treasurer Jim Chalmers stressed that the roadmap would support investors, companies and the broader community in capitalising on the global net-zero transformation, as well as help mobilise “the significant private capital required for Australia to become a renewable energy superpower, modernise the country’s financial markets, and maximise the economic opportunities associated with net-zero and sustainability goals”. “A fair, fast and well-planned transition is required to protect the retirement savings of millions of Australians from climate change damages and maximise our economic opportunities as a renewable energy superpower,” said Erwin Jackson, Managing Director of Policy at the IGCC. “The Sustainable Finance Roadmap provides a foundation for appropriate sustainability information to be reported across the economy, which will help investors, regulators, and stakeholders form a comprehensive understanding of … climate risks and opportunities, fuelling investment in clean industry.”

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