report by Deloitte Access Economics determines that $20 trillion will be invested in Australia’s economy out to 2050, regardless of whether we transition to net zero. In short – this is a transformation Australia can afford.won’t transform Australia to become a low-emissions economy. This money will need to be spent differently, and the Australian economy must change structurally to ensure we are best placed to emerge as a standout economy in a net zero world.
We are already starting to see higher-emitting industries make investments in clean energy sources, more efficient processes and modern technologies, so we are not starting from scratch.At NAB, more than 75 per cent of our total lending to energy is for renewables. This will continue to grow, and we are proud to be supporting our customers as they seek to address the climate challenge head on.
Co-ordination is most critically required across the vital systems of energy, raw materials manufacturing, mobility and food and land use that contribute 90 per cent of Australia’s emissions.More businesses to report on their direct and financed emissions, with a simple and standardised approach across the economy to ensure transparency on progress;
Expansion of Australia’s carbon offset market – while emissions reduction needs to be the primary mechanism to achieve net-zero, we are uniquely placed to expand our offset market.We are working with our customers to understand the steps they are taking to evolve their businesses, including providing capital to seize the opportunities in a net zero world.
Well I guess after seeing how Germany ended up…