Carbon tax to boost green investments
The carbon pricing scheme announced by Prime Minister Julia Gillard yesterday will lead to increased investment in clean energy and clean technology, according to the Australian Institute of Superannuation Trustees (AIST).
In welcoming the announcement, AIST chief executive Fiona Reynolds said the scheme would be the catalyst for addressing climate change and would provide long-term policy and investment stability for super funds.
Moving to a carbon price reduces investment uncertainty and means super funds can look to manage climate change without speculation on the price of carbon pollution, she said.
The three-year lead in would give businesses and investors adequate time to prepare for market-based pricing of emissions, she added.
Climate policy uncertainty has been a barrier to the country’s largest super funds collectively investing in clean energy and technology, according to an AIST/Climate Institute survey. A new survey aims to examine the carbon footprint of Australia’s largest super funds, the AIST stated.
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