The number of Australian companies with Net Zero targets has tripled as investors in the country today call for reforms to make the renewable energy market more investable.
The Clean Energy Investor Group (CEIG), whose members include Macquarie Capital, BlackRock and RWE Renewables, has made five recommendations to reduce the cost of capital for clean energy and drive investment into the sector in Australia.
The new ‘principles’ come as governments in Australia prepare to consider recommendations from the Energy Security Board on how the national electricity market should be designed after 2025. The market, which delivers energy to Australia’s eastern and southern states, accounts for around 80% of the country’s energy transmission.
“This decision will be watched closely by international and local institutional investors,” said the report, adding that the current market “is no longer fit-for-purpose” because it is not aligned with Austr…