The chairman of the newly created Net Zero Economy Agency says the world’s third-largest pool of retirement savings should aid decarbonisation.
Why it’s important: As chairman of the Net Zero Economy Agency Greg Combet is charged with ensuring an orderly energy transition
In his first public address as chairman of the newly created Net Zero Economy Agency, Mr Combet said he wants to create opportunities for institutional investors and super funds to finance companies undertaking decarbonisation projects – including alongside the federal green bank. But he said Australia was yet to “unlock” the world’s third-largest pool of retirement savings of more than $3 trillion to apply it towards decarbonisation to the extent he considered possible.
“Part of the role that I and the agency that’s been established that I chair will be to look over that – we’re not policymakers in the field, but we can help troubleshooting and try and overcome where we can see an issue needs to be dealt with.”
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