Australia’s push toward net zero receives a boost as industry superannuation investors align with the government for accelerated investment.
Policy Blueprint and Superannuation Support
The Treasurer’s Investor Roundtable has successfully forged an agreement between the government and major profit-to-member superannuation investors to collaborate on Australia’s net zero transformation. The blueprint titled “Super-powering the energy transition” outlines policy opportunities and is backed by leading funds, including AustralianSuper, CareSuper, Cbus, HESTA, and others.
Crucial Investment Facilitation
Australia’s energy transition necessitates massive investment. The collaboration aims to identify opportunities and create a supportive policy environment for the country to capitalize on its renewable energy potential and become a global superpower.
Industry Super Sector’s Pivotal Role
The industry super sector, managing around $1 trillion in members’ retirement savings, is anticipated to grow to approximately $3 trillion by 2030. The Roundtable identifies investment facilitation as a core function of the newly-established Net Zero Economy Authority.
Super Funds Commit to Net Zero Transition
Major industry players express commitment to achieving net zero targets and focus on robust, risk-adjusted returns. The superannuation sector’s pivotal role in steering the financial future of millions aligns with the collaborative efforts for a sustainable energy transition.
Attributable to Paul Schroder, Chief Executive, AustralianSuper: “Achieving our net zero target will take bold and decisive action from governments, industry, and investors.”
Attributable to Andrew Fraser, Chair, Australian Retirement Trust: “Australia’s net zero transition creates a significant opportunity for investors.”
Attributable to Debby Blakey, CEO, HESTA: “This blueprint is Australia’s north star on getting the long-term policy settings right.”
Attributable to Vicki Doyle, CEO, Rest: “The transition to a lower carbon economy is a huge and historic investment opportunity.”
Attributable to Cath Bowtell, Chair, IFM Investors: “This collaboration has the potential to be a win-win for the retirement savings of millions.”
Source: miragenews.com
