Australia ‘must take full advantage of green finance opportunities’

Australia must take full advantage of the green finance opportunities available to it.

That’s the verdict offered in the latest Green Infrastructure Investment Opportunities (GIIO) report, which identifies a national pipeline of more than 400 green infrastructure projects it judges to have signficant investment potential.

It stresses Australia already has the capability and capital required to “launch a wave of green infrastructure investment” throughout the 2020s and along with the Green Finance State of the Market Australia 2019 (SoTM) report, advocates increasing the use of green bonds and other green investment products.

It notes continued emissions reductions have not yet been effectively integrated into national infrastructure priorities and says banks, corporations and governments must partner to address issues such as greenhouse gas emissions and tackle air pollution.

It calls for the expansion of green finance mechanisms and increased cooperation between the public and private sector, with a specific focus on the sectors of energy, transport, water, waste and buildings.

The Australia SoTM 2019 report notes low carbon buildings currently dominate green bond allocations, making up approximately 43% of proceeds – energy follows with 25%, low carbon transport at 24%, water at 6% and waste at 2%.

Sean Kidney, CEO of the Climate Bonds Initiative, said: “Australia has both the opportunity and the capital to meet its green infrastructure challenges and create a climate-ready, resilient and robust economy, fit for the future.

“Investing in low carbon transition will create jobs, boost economic growth and help Australia meet its international obligations.”

The post Australia ‘must take full advantage of green finance opportunities’ appeared first on Energy Live News.

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