Last week on Thursday, June 14th, Moir Group sponsored the Nature Conservation Council (NCC) of NSW’s highly successful business breakfast event for the third consecutive year. This year, Independent Teal MPs Kylea Tink, Zali Steggall OAM MP, Dr Sophie Scamps MP and Allegra Spender discussed rewriting Australia’s climate and energy vision and its implications for businesses. The panel delved into the political and economic challenges hindering investments in clean energy in Australia. They also shared insights on the hidden barriers to climate action, how the private sector can drive further progress, the evolving role of ESG, and more.
In this article, we share the key takeaways from this important business event.
1: Inclusive strategies for a green economy
- Dispelling myths: It’s essential to dispel the myth that a green future threatens economic prosperity. Climate sceptics often worry about specific sectors and industries. It’s crucial however to communicate that a green future is beneficial for both the environment and the economy. Kylea Tink highlighted the economic potential of green initiatives, underscoring how they can drive economic growth.
- Inclusive discussions: Discussions should be all-encompassing, addressing every concern and motivation. While many attribute rising energy costs to green initiatives, a significant factor is the lack of government action to seize green opportunities. This re-enforces the need to tackle public perspectives. Dr. Sophie Scamps emphasised the link between environmental preservation and human health, highlighting the broader benefits of green policies.
- Regional focus: Regional communities play a vital role in this transition. Targeting these areas can invigorate the economy and alleviate housing crises. Young people can find comfort that a greener future will positively impact housing affordability, employment, and the overall economy. Allegra Spender stressed that the shift to renewables must benefit all Australians, ensuring that the transition is inclusive and equitable.
2: Robust frameworks and accountability from the government and private sector
- Greenwashing concerns: A recent Australian Competition and Consumer Commission (ACCC) survey highlighted that 57% of businesses assessed were guilty of greenwashing. This underscores the urgent need for genuine transitional plans and accelerated ambitions. Zali Steggall emphasised the critical decade for climate action, pointing out the limited time we have to make significant progress.
- Transparency matters: Transparency is essential; companies must openly showcase both their challenges and achievements when it comes to their environmental stewardship. Similarly, holding both sides of the government accountable is crucial. Dr. Sophie Scamps and Kylea Tink called for stronger environmental laws and robust frameworks for protection, advocating for immediate reform to the Environment Protection and Biodiversity Conservation Act 1999 to speed up environmental approvals and enhance transparency.
- Robust systems: We must establish systems designed for long-term success, avoiding short-term gains that come with long-term costs. Ensuring the integrity of our environmental policies and preventing backsliding on climate commitments is vital for creating a sustainable future.
3: Immediate action in Australian Government policy
- Alarmingly slow progress: Australia’s progress on climate issues is alarmingly slow. There are concerns that new governmental shifts could result in continued sluggish and polarising progress. Zali Steggall raised the critical question of reclaiming lost ground if we don’t act now, emphasising the importance of immediate action.
- Deforestation and carbon pricing: Deforestation remains a significant problem despite existing legislation, and informal carbon pricing has led to warnings from the EU. The reliance on offsets is insufficient to achieve zero climate impact. We need robust nature and biodiversity offsets and must critically assess why polluting industries continue to receive subsidies.
- Role of Independents: Independents bring integrity and better representation, highlighting the role of diverse voices in parliament for improved outcomes. Zali Steggall, Kylea Tink, and Allegra Spender stressed the power of public engagement and individual actions in driving climate action. The movement for independent representation reflects public frustration with traditional political swings and a strong desire for consistent and effective governance.
Our ESG Division Manager Lisa Tracy is here to help you navigate the evolving landscape of sustainable business practices. You can reach her on 02 9262 4836 or email her at lisatracy@moirgroup.com.au.
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