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Carbon price to provide certainty for super funds
The Federal Government’s carbon pricing scheme has been welcomed by some superannuation industry associations, who say the announcement reduces uncertainty for large-scale investors.
Both the Australian Institute of Superannuation Trustees (AIST) and the Industry Super Network (ISN) have come out in favour of pricing carbon, labelling it a “sensible and prudent reform” which will boost investment in clean energy.
AIST chief executive Fiona Reynolds said moving to a carbon price reduces investment uncertainty and means super funds can look to manage climate change without speculation on the price of carbon pollution.
Reynolds added the three-year transition period would be enough time for funds to prepare for market-based pricing of emissions.
ISN said industry super funds are already well placed for this new low carbon economy, as they are already leading investors in renewable energy.
It said the carbon policy would simply provide the price signals necessary to encourage a shift to cleaner energy sources and production methods.
ISN said industry super funds are looking forward to engaging with the Government on the expected interaction of the announced proposals — including the Clean Energy Finance Corporation — with existing policies including the Renewable Energy Certificates scheme.
AUTHOR
Ashleigh McIntyre
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