Institutional investors managing trillions of dollars are not typically known for their outspoken climate activism.
You won’t see many superannuation fund staff or asset managers holding placards on city streets or coal trains. However, their influence is increasingly felt through digital platforms.
On Wednesday, the Investor Group on Climate Change (IGCC), representing 103 members that manage the retirement savings of nearly 15 million Australians, is set to launch a national advertising campaign.
This initiative, themed “climate action pays off,” will showcase successful green energy stories, aiming to persuade the federal parliament to support policies that could expedite the transition to a clean economy.
The campaign seeks not only to promote the benefits of a sustainable future but also to fill a perceived gap in the national dialogue regarding climate change.
The message is clear: acting swiftly on climate issues can yield economic benefits for the entire community.
Erwin Jackson, the IGCC’s director of policy, hailed the campaign as “the first positive investor campaign on climate change globally.”
He noted that investors worldwide are closely monitoring this effort, as they share similar concerns to those in Australia.
This campaign emerges at a time when public enthusiasm for aggressive climate action appears to be declining, coinciding with rising financial pressures on households.
Investors highlight the urgency of transitioning to clean energy for a sustainable future.Confusion about the government’s stance on climate policy has also been reported, especially as it supports both renewable energy growth and fossil fuel exports.
The campaign will emphasize the upcoming 2035 emissions reduction target and sectoral plans aimed at achieving net-zero emissions.
It features stories of individuals transitioning from polluting industries to clean energy roles, highlighting transferable skills across the economy.
For instance, one video showcases Chris from Adelaide, who shifted from building fast cars to developing solar farms.
Jackson highlighted that investors view climate change as a significant risk to their assets.
“The campaign aims to illustrate how climate action benefits people today while underscoring the skills needed in a net-zero economy,” he stated.
Member firm Ausbil Investment Management expressed its support, citing climate change as a considerable threat to economic stability.
In related news, Climate Change Minister Chris Bowen announced a $5.4 million pilot program to assist 500 households in New South Wales with clean energy solutions.
Meanwhile, Coalition spokesperson Ted O’Brien indicated that gas will remain a part of Australia’s energy landscape, despite its contribution to greenhouse gas emissions.