The Labor, Greens and teal election upset will likely lead to more interest in sustainable projects, but that doesn’t mean they’re sure bets, a fund manager has said.
Investors can expect a flurry of sustainability-themed investment products following the mandate for climate action issued at the federal election, but investors are warned not all projects will be profitable or achieve what they claim to.following the election of a Labor government, at least two Greens MPs and a string of so-called teal Independents pushing decarbonisation of the economy.Labor plans to reduce emissions by 43 per cent by 2030, based on 2005 levels.
“Investors need to be aware of the economic challenges of sustainable technology industries globally if they’re looking to invest in these areas.” “There’s talk about things like investing in gas-fired power generation as a way of reducing the carbon intensity of our electricity system, and yes, in the short term that will help.
As more projects and investment opportunities come online, he believes the industry, government and investors need to apply tight scrutiny to any green claims. Then, funds management firms and companies must report on the progress they’ve made on the path to achieving net-zero, he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labor and Greens still hopeful in knife-edge Brisbane countWhile Labor is confident it can beat the Greens to the seat of Brisbane, any victory may be short-lived amid the party’s growth in the Queensland capital.
Read more »
Liberal Party cannot be an ‘imitation of Labor and Greens’
Read more »
Labor, Greens look set to push businesses to adopt tougher emission targetsThe future of Australia's biggest emitters looks uncertain under the new Labor government, with the Greens and climate changed-focused independents set to have a loud voice in parliament.
Read more »
Greens furious at Labor over asylum seeker boat turnbackThe Greens have called out Labor for the continuation of Scott Morrison's policy in turning back asylum seeker boats, calling the decision to send back a boatload of refugees to Sri Lanka as 'unnecessary and ineffective'.
Read more »
Labor might win more than 76 seatsLabor might have a small buffer of extra seats once it passes the 76 seats required to form majority government.
Read more »