Investors Welcome New Australian Net Zero Authority

Australia and New Zealand’s Investor Group on Climate Change (IGCC) has welcomed the announcement of Australia’s federal government of a National Net Zero Authority. The IGCC, who members manage AU$30 trillion (US$20.2 trillion) in asset, has been calling for such a body since 2019 to help manage and co-ordinate the energy transition. The authority will co-ordinate decarbonisation opportunities across the economy, supporting the efficient allocation in sectors including energy, transport, industrials, and agriculture. It will be housed within the Department of Prime Minister and Cabinet, and ultimately be established as an independent statutory authority. IGCC’s Director of Policy & Advocacy, Erwin Jackson said: Australia’s transition away from fossil fuels and towards a clean, renewable energy future is happening now. For the transition to net zero emissions to succeed, we must share the benefits of our transition to a clean energy economy. We cannot afford to leave workers and communities behind.” 

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