Albanese to pitch Australian green energy to US investors: reports
Make us a preferred source
Make us a preferred source on Google
The news: Prime Minister Anthony Albanese is set to spruik Labor’s spending measures and emission reduction targets as reasons why US investors to fund Australian projects when he speaks at an investor summit in New York on Wednesday.
The context: In a transcript see by the AFR, Albanese will say 80% of Australia’s mining deposits are under-explored and the country has the “space that makes it possible to co-locate extraction, refining, processing and manufacturing”.
Albanese will use the event hosted by Macquarie’s CEO Shemara Wikramanayake to boost investor interest toward mining and processing Australia’s critical minerals, as well as raising hundreds of billions needed for the renewable energy required to achieve the goal of a 62% to 70% reduction in emissions on 2005 levels by 2035.
Albanese will also announce that in November, Chris Bowen and Industry Minister Tim Ayres will host a Future Made in Australia investor forum. The Australian reports that Albanese plans to tell top US leaders that he wants to “add a new dimension” to Australia’s partnership with the US, which is already the nation’s largest foreign investor.
“American capital and Australian manufacturing are a natural fit. And if we move now, we can make them an unbeatable combination. We can put our investment partnership at the centre of a defining global opportunity,” Albanese will say.
“The world’s shift to clean energy represents the biggest change since the industrial revolution. We are looking at ever increasing global demand for clean energy and the technology that generates and stores it.”
Albanese will highlight that US investors can trust Australian opportunities and have confidence in its institutions. He will add: “You can employ Australian workers, with confidence in their skills and smarts and productivity. You can draw on Australian research and innovation and know that it’s world class. You can take on the new challenges and opportunities of emerging markets – from a stable and familiar foundation. “In a time of global economic uncertainty – you can be certain about Australia.”
The EU is also set to be drumming up interest for US investment into the bloc this week, with European Commission President Ursula von der Leyen on Tuesday telling US CEOs and investors “to “tell us what you need, what guarantees, what risk sharing tools or what is the regulatory conducive environment that you need.”
Those scheduled to attend the investor event, The Australian reports, include Bank of America chief executive Brian Moynihan, Goldman Sachs president John Waldron, Worley chief executive Chris Ashton, BlackRock senior managing director Joud Abdel Majeid, Carlyle Group managing director Richard Hoskins, Ares Credit Group co-head Michael Smith, Blue Owl global head of institutional capital James Clarke, Merrill Lynch chief executive Bernie Mensah and Morgan Stanley investment management chief Benjamin Huneke.
The sources: AFR, The Australian
