Delivering energy infrastructure needs people, capability, and cohesion
Australia's energy transition requires more than technical plans. Discover four ways to build the people, culture and capability to deliver infrastructure at scale.
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The need to support climate management and disclosure in Australia’s superannuation industry.
Decarbonising the Australian economy to combat the negative impacts of climate change is a complex journey. Actively planning a pathway to net-zero carbon emissions by 2050 at a rate in line with the Paris Agreement of limiting global warming to 1.5°C, or well below 2°C, presents a worthy yet significant challenge.
Achieving a transparent and substantive climate reporting outcome is of critical importance to the welfare of all Australians who rely on their superannuation for a comfortable retirement. Australian superannuation funds, with combined assets totalling AUD $3.4 trillion, require relevant, reliable, comparable and understandable climate-related information from investees.
Without this information, market valuations of investments may not appropriately reflect climate-related opportunities and risks. Further, Australians’ investments may be exposed to an adjustment (positive, or negative) in their market value when the information becomes available.
With the proposed phased introduction of new mandatory ISSB sustainability reporting standards fast approaching in FY 2024/25, Australia’s top 10 superannuation funds have a real opportunity to enhance Australia’s financial future. They can be advocates for driving transparency in corporate reporting, and accountability on climate risks, to appropriately manage climate-related risks and opportunities for their members.
New analysis from Aurecon examines the level of disclosure required to enable superannuation funds to make more informed investment decisions. It unpacks the implications on Australia’s net-zero carbon emissions target and highlights best practices supporting climate-related financial disclosure that can benefit the superannuation industry and their members.
It’s important to note that the implementation of climate-related financial disclosures is an evolving conversation, and as such, Aurecon’s analysis is presented to facilitate the discussion on options. They do not in themselves represent solutions or professional advice.
Aurecon is an Asia Pacific engineering consultancy. We are committed to shaping and delivering projects that support, and are aligned with, the climate transition. This extends from asset and strategy advice, to overseeing programmes or projects of capital investment, and transition of energy systems and infrastructure, that enables economies and communities to prosper both now and into the future.
Our climate transition and wider sustainability and climate change specialists work closely with public and private sector clients to enhance their performance and productivity by responding to the risks and opportunities presented by climate change and the clean energy transition.
Contributing authors & reviewer: Belinda Wade, Saphira Rekker and Ryan Cook.
Manager, Infrastructure & Energy Advisory
Managing Director, Energy – Australia
Senior Consultant, Risk & Resilience – Australia
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