The Australian Capital Territory’s largest shareholder, the Australian Investment Bank, has launched a campaign to encourage investors to consider investing in clean energy companies.
The AIB is also proposing that a new levy on carbon emissions be introduced to reduce emissions in the ACT.
It has called for investors to think beyond the big six companies, saying the big companies are in a bubble, with the world still too dependent on fossil fuels.
“Investors will see it as a big deal if we can make a positive impact on the global economy,” CEO of the AIB, Paul McBroom, told ABC News.
He said a “clean energy investment tax” would be introduced that would see a new tax on carbon, similar to the GST, applied to the amount of carbon dioxide produced in a year.
Australia’s economy is struggling as a result of the ongoing economic downturn, with emissions rising by an average of 7.8 per cent a year since 2020.
In recent months, the country has been hit by a string of earthquakes, floods and bushfires, as well as rising temperatures, drought and more extreme weather events.
With a population of just over 11 million people, the ACT has been particularly hard hit by climate change, with record heatwaves and wildfires.
But Mr McBrooms said it was important to recognise the impact that climate change had on the ACT and to work to reduce greenhouse gas emissions.
“It is absolutely essential that we take action on climate change and take action now to reduce the impacts of climate change on our communities and our economy,” he said.
For the first time in the country, the AIT has set up a dedicated climate change policy unit to develop policy for the ACT, which is now home to about 15 million people.
Mr McBram said it would be important to see the AIC focus on carbon reduction and green infrastructure, and that the government had taken strong action on energy efficiency in buildings.
“We are doing very well with our emissions reduction, but we need to continue to get that energy efficiency right,” he told ABC’s 7:30 program.
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