Australian super fund puts billions into backing Britain’s energy transition
by Katharine Murphy Political editor from Environment | The Guardian on (#6GNXQ)
Business and environmental groups urge Labor to supercharge incentives to lure capital
- Follow our Australia news live blog for latest updates
- Get our morning and afternoon news emails, free app or daily news podcast
The behemoth Australian fund IFM Investors will sink 10bn (A$19bn) into infrastructure and energy transition projects in Britain by 2027 as part of a new memorandum of understanding with the Sunak government.
The decision by IFM - which is owned by 17 Australian industry super funds - comes as a coalition of business and environmental groups calls on the Albanese government to supercharge tax and other financial incentives to ensure Australia can attract sufficient capital to drive the domestic transition to net zero emissions.
Continue reading...