Net Zero Economy Authority welcomed by investors

The Australian Council of Superannuation investors (ACSI) welcomes the introduction of legislation to Parliament to establish the Net Zero Economy Authority to oversee an orderly transition to a low carbon economy.

As universal owners of capital, superannuation funds cannot fully diversify away from the impacts of a poorly managed transition and have an important role to play in supporting a just, orderly and equitable transition.

To avoid further delay to the transition and if Australia’s net zero ambition is to be achieved there needs to be a coordinated implementation of policy, investment and support for affected communities.

The legislated Net Zero Economy Authority will have powers to coordinate across the Federal Government and with stakeholders and communities, to support effective decarbonisation and promote a diversified economy, facilitate investment in transformational projects and provide support to communities and workers impacted by the transitioning economy.

“The transition to a low carbon economy is the most significant transformation of our economy since the Industrial Revolution. It will take leadership from Government, in collaboration with investors, workers, business, communities and  First Nations peoples to ensure that this transformation is effective and equitable.” said Louise Davidson, ACSI CEO.

“The Net Zero Economy Authority will play a critical role in helping companies and investors to more confidently deploy vital, long-term and patient capital in the transformation to a net zero economy,”

“A lack of coordination can lead to poor outcomes for affected communities and workers and cause delays to important projects needed to decarbonise the economy. A coordinated approach driven by the Net Zero Economy Authority will help business, investors and governments meet the challenges of the transition head on while providing support to workers and communities impacted by the transition,” Ms Davidson said.


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