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AUM in Action

IGCC Underlines Need for Australian Sector Climate Plans

The Investor Group on Climate Change (IGCC) has published a discussion paper outlining the important role of investment grade sector decarbonisation plans in driving capital to support a just net zero transition in Australia. Sector plans will build a “common understanding” of decarbonisation needs across the country, the report noted, adding that they will also give Australia agency, minimising the risk of a disorderly transition, while identifying where capital is most needed. Credible sector plans must be aligned with the Paris-aligned 1.5°C temperature pathway, the IGCC said. The report has been published following a consultation with institutional investors. IGCC CEO Rebecca Mikula-Wright said: “Investors strongly support the commitment of the Government to deliver investment grade sector plans through deep consultation across all stakeholders. Investors want to take advantage of the global race to clean energy. Sector plans will be a key element of an investable response to the substantial clean energy subsidies in the USA, EU and similar nations like Canada. Subsidies are no substitute for long term policy plans and stability.” 

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