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Mitsubishi CEO calls for ‘stable’ investment climate in Australia

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One of Japan’s biggest investors in Australian resources called for the clean energy transition to be approached with caution.

Mitsubishi, one of Japan’s biggest investors in Australian resources, has called on the Labor government to ensure a stable investment environment, warning the clean energy transition needs to be approached with caution.

The Japanese multinational giant has joint venture interests in coal, iron ore and gas across Australia to power Japan’s electricity grid and industrial base. “We have a relationship of trust. I hope the relationship can guarantee a stable investment environment,” he said.made by Japan Economy and Trade Minister Yasutoshi Nishimura stressing the need for Australia to have a “stable investment environment” in talks with three senior Albanese government ministers in Melbourne on Sunday.that also included Energy Minister Chris Bowen and Resources Minister Madeleine King.

He also voiced concerns over Australia prioritising LNG supply for domestic use as it did in August last year and said it may trigger a gas security mechanism that would allow the government to limit LNG exports in the event of a shortfall to ensure enough gas is available locally, Kyodo reported.

 

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