Australian banks are ready and willing to lend billions of dollars to make the energy transition happen. But they want bipartisan political support and policy certainty.
and Westpac chief executive Peter King have ventured into the divisive debate over the energy transition with a simple request – let’s plan for the future.
Also, another $420 billion of capital will be required to ensure Australia has a competitive net zero economy by 2050. “The sooner we get to a consensus around what 2030 looks like, the more effective the investment profile between now and then will be.” “We need to know where the renewables are going, where’s the firming capability going, and how much we need to invest in the networks.‘We’ve got to get going now’action on skilled migration“We’ve got to get going now because in some of the plans, coal-fired power starts getting retired in 2025, which is pretty close,” he says.Deloitte’s report, which assumes that global warming will be kept to an increase of 1.
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