Australia’s Net Zero Authority Will Help Unlock Lasting Opportunities For Generations

The Net Zero Economy Authority will help Australian investors, workers, industry, and communities play their role in delivering a fair and well-planned energy transition that benefits the whole Australian economy.

The Net Zero Economy Authority has a critical investment facilitation and planning role in the energy transition, which is crucial to unlock lasting opportunities for generations of Australians.

The Bill establishing the Authority as an independent statutory authority was passed by the Senate yesterday afternoon, and is a near-certainty to be passed by the government-controlled lower house in its next sitting, which starts on the 9th of September.

The Investor Group on Climate Change and its members have, for nearly a decade, advocated for an independent statutory Authority to enable a fair, coordinated, and well-planned transition.

Through this transition, a high level of social cohesion and broad, ongoing public support for climate action are necessary for investors’ ability to create sustainable financial returns and overall benefits for the retirement capital of millions of Australians.

IGCC’s latest research suggests that the new Authority’s investment facilitation function can help unlock billions of dollars for the transition.

Investors particularly welcome the Authority’s roles as:

• the net zero “shop front” within the Australian Government, to improve information and communication flows with investors and industry, and
• a facilitator of public and private sector participation and investment in transformative net zero initiatives, including via specialist investment vehicles such as the Clean Energy Finance Corporation and National Reconstruction Fund.

IGCC’s CEO Rebecca Mikula-Wright said:

“The Net Zero Economy Authority Bill is a much-needed support for investors’ confidence as they decide where to fund new clean energy supply.

“The new Authority will be critical to unlocking billions in private investment and ensuring affected workers and communities across the country have the support they need to help build Australia’s net zero economy.”

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