Debby Blakey
Yesterday’s Federal Government announcement is a welcome step forward in unlocking the scale of renewables investment needed to accelerate Australia’s transition to a low-carbon future.
Australia is uniquely positioned to become a global powerhouse in renewables, thanks to our abundant natural resources and significant investor appetite to deliver strong investment returns while reshaping how energy is supplied.
The 25% expansion of the Capacity Investment Scheme (CIS) to 40 gigawatts demonstrates a clear commitment to building a strong pipeline of high-quality renewable investment opportunities. We believe this will support further grid decarbonisation, more private investment and continue Australia’s progress toward the ambitious 82% renewable energy generation target by 2030.
With $96 billion[1] in funds under management, HESTA stands ready to invest more in Australia’s energy transition and we’ve set a target to have 10% of our portfolio invested in climate solutions by 2030.[2]
In addition to the expanded CIS, we want to see the Federal Government set a strong and ambitious 2035 climate target, as this will help give investors the certainty they need to supercharge investment in Australia’s shift to a low-carbon future.
By Debby Blakey, CEO
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