Today Liberal Senator Andrew Bragg, Labor Senator Karen Grogan and Independent Senator David Pocock are announcing the launch of the Parliamentary Friends of Clean Investment at an event to be held from 5-6pm at Senate Courtyard 28K.
The new Friendship group will provide a non-partisan forum for MPs and Senators to engage with institutional investors and companies that are accelerating the transition to net zero, identify legislative and regulatory opportunities to accelerate investment in cleaner technology and infrastructure, develop a greater understanding of the role of capital in accelerating the energy transition, and host events that showcase net zero investment opportunities.
Supported by Investor Group of Climate Change (IGCC) and the Financial Services Council (FSC), the launch event tonight will include conversations with six super fund Chief Investment Officers, who are custodians of $1 trillion on behalf of 5 million Australians.
Senator Bragg Quotes
“Net zero is a very important economic objective for Australia. Zero is zero, but it is net zero which is the goal.
There will still be emissions from things like cement production and farming. These will be offset and Australia has unique advantages given our enormous land mass.
Our commitment towards net zero emissions has been well and truly flagged by the Liberal Party in government. Australia signed onto net zero at the Paris and Glasgow COPs under the Liberal Party. I look forward to building on these important steps.”
Senator Grogan Quotes
“Parliamentary Friends of Clean Investment's aim is to celebrate and foster investment in clean technology and infrastructure.
I am proud to work alongside my colleagues with the aim of showcasing net zero investment opportunities and driving the positive change that Australia urgently needs.”
Senator Pocock Quotes
“Significant investment will be needed for us to seize the opportunities the energy transition presents to Australia.
The new Parliamentary Friends of Clean Investment group will help to build links between parliamentarians and those driving positive change from within the financial sector.”
CEO of Investor Group on Climate Change Rebecca Mikula-Wright Quote
“Investors welcome the launch of Parliamentary Friends of Clean Investment.
Climate change is both a systemic financial risk that must be addressed and an incredible economic opportunity for Australia to seize.
We thank Senator Bragg, Senator Grogan and Senator Pocock for creating a space for important non-partisan conversations about the role of finance in accelerating Australia’s orderly transition to a clean economy.”
CEO of the Financial Services Council Blake Briggs quote
CEO of the FSC Blake Briggs said the purpose of the group was to increase awareness of the role of the finance industry in driving sustainable outcomes.
“It is great to see support for this group from all sides of the political spectrum who understand what the investment community needs to deliver on their responsibility to effectively manage climate-related financial risk in their investment portfolios. This enables investors to safeguard the savings of millions of Australians.”
“Australia’s commitment to net zero emissions by 2050 will need to be financed largely by the private sector, which is why stable policy settings are required to transition Australia to a lower emissions economy. This group will champion issues such as the need for a mandatory climate change disclosure regime and the role of the investment community in financing sustainable economic investments and solutions.’