John McMurdo, Chief Executive of super fund Australian Ethical, has written a letter to Prime Minister Anthony Albanese, calling for a more ambitious target for reducing greenhouse gas emissions:
"As long-term investors in Australia’s future, we urge your government to set an ambitious national emissions reduction target for 2035—one that reflects our international obligations under the Paris Agreement and meets the expectations of the Australian public.
Climate change is no longer a distant threat—it is a pressing and escalating challenge that impacts our environment, economy, and the wellbeing of all Australians. Australia has both the opportunity and the responsibility to lead by example in the global effort to limit warming to 1.5°C.
We believe a national target of 85% emissions reduction by 2035 is not only achievable—it is essential for Australia’s economic prosperity and global credibility.
Being ambitious will enable the orderly transition of our economy, sending a clear signal to the market which will stimulate investment in emerging industries and jobs, and reduce the risk of stranded assets. Investing in cheaper, cleaner energy and the net zero transformation is one of the Productivity Commission’s five pillars for driving Australia’s long-term growth and competitiveness."
