Dumping net zero will spook investors says economist, Orica says it’s disruptive | The Business

The Liberal Party has announced it will scrap its net zero by 2050 commitment as part of its energy and climate policy. Opposition Leader Susan Ley says the party can deliver lower power prices and reduced emissions without the target. The announcement has been met with silence and in some cases, open dismay. Businesses say when it comes to Australia’s climate commitments, they’ve been consistent in asking for policy certainty.
Director of Green Energy Markets Tristan Edis says the announcement would make some international investors nervous. “Before this announcement I think investors could at least reassure themselves that if they make the investments, they can at least say, ‘you’ve made a promise you need to deliver on it'”, he says. “But now I think there would be a great degree of nervousness about that”. Orica CEO Sanjeev Gandhi says the change is disruptive and “we do not want to end up decimating manufacturing in Australia.”
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