The Albanese government has promised to “grab this opportunity” to become a renewable energy superpower after holding a high-level roundtable with major banks, financiers and investment managers.
The Biden administration’s Inflation Reduction Act is creating a huge clean energy momentum that will drive down costs, but Australia will need to act quickly to take advantage of the shift, investors said. Investors and clean energy groups welcomed the roundtable – which included the climate and energy minister, Chris Bowen – saying it signalled the government’s intent to put a clean energy transition at the front of its economic agenda.
The government would also co-fund a development phase of an “Australian Sustainable Finance Taxonomy” – a project to help investors more easily target their funds towards particular kinds of sustainability projects.
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