The Australian Institute of Company Directors (AICD) has welcomed the Albanese Government’s introduction of the Climate Change Bill 2022, as a key step towards policy certainty.
The Australian Institute of Company Directors (AICD) has welcomed the Albanese Government’s introduction of the Climate Change Bill 2022, as a key step towards policy certainty.
The Australian director community has consistently highlighted climate change as the number one policy priority they want to see the Federal Government address.
Directors have also cited the lack of climate policy certainty as the most significant factor holding back effective climate governance at an organisational level.
The AICD supports the goal of achieving net zero greenhouse gas emissions across the economy by 2050 and the Government’s 2030 target of a 43 per cent emissions reduction under the Paris Agreement, as a much-needed policy floor.
AICD Managing Director and CEO, Angus Armour, said this is an important step towards greater climate policy certainty.
“If the Bill passes, Australian businesses will have increased confidence to move ahead with their own decarbonisation plans as they strive to remain internationally competitive.
“A concerted and coordinated effort will be required by all levels of government, business, industry, and the scientific community to achieve a significant reduction in the nation’s carbon emissions by 2030. Individuals, including those around Australia’s board tables, must also demonstrate a commitment to action.”
As part of the Bill, the AICD also welcomes the Government’s intention to revitalise the Climate Change Authority as a key source of expert, independent advice, as well as the proposed requirement that the minister report annually to parliament as an important public accountability mechanism.
We look forward to participating in future consultation on these important issues, and will continue to roll out practical resources to support directors in this important area of practice through our host role of the Climate Governance Initiative Australia.
