Set bigger climate goals in economic recovery: Business tells government in national survey.

Australia’s COVID-19 economic recovery plans don’t do enough to integrate climate action and Australia should have a 2050 net-zero emissions target, say Australian business respondents in the 2020 Australian Climate Policy Survey, released today.

Conducted by the Carbon Market Institute in the lead up to the 7th Australasian Emissions Reduction Summit (Dec 2-4), the survey finds 76% of respondents think the Morrison government is not sufficiently integrating climate goals in its economic response to the pandemic.

John Connor, CEO of the CMI says: “Some of the 234 respondents to this survey are from Australia’s biggest emitting companies. The others are investors, carbon project developers and carbon market experts.

“Driven by regulators, investors, consumers, concern about carbon border tariffs and their own strategic interests, business leaders are taking action but they clearly want the national government to assist with targets and policies, not just technology development support.”

The survey found support is increasing among the business and investment community for a net zero emissions by 2050 target, with 88% of respondents saying Australia should set a target, up from 83% last year.

“This survey shows that even during a pandemic and a recession, corporate and investor concerns over climate action are undimmed, as realisation of the many opportunities for Australia in a low carbon economy brighten,” says Mr Connor.