IFM's Alex Joiner is concerned Australia will squander the energy transition opportunity
IFM Investors is the biggest infrastructure investor in Australia. Its chief economist warns that offshore opportunities in green energy are likely to drag money out of the country unless the government provides a clear plan for the transition.
Alex Joiner would like a significant portion of his employer’s more than $200 billion funds under management stay in Australia to help with some of the country’s biggest economic shifts. But he warns the opportunity might be missed for the energy transition unless the government comes up with a clearer plan.
The energy challenge is a major focus in his role as chief economist for IFM Investors, Australia’s biggest infrastructure investment manager. But he knows he has to be tactful when talking about politically charged topics.
When Capital Brief calls to discuss Joiner’s career and economic thinking he is willing to speak at length about myriad subjects, yet he chooses his words particularly carefully on the energy challenge, geopolitics and the role of the ballooning superannuation sector.
“What we know from where we are right now is that the Australian economy and Australian markets are not big enough to absorb all that capital so a lot of capital will go overseas as a matter of diversification,” Joiner says.
