Following its public calls for Australia’s urgent transition to a net-zero emissions economy, the Australian Academy of Technology and Engineering (ATSE) today strengthened its commitment by vowing to invest in support of this transition.
The decision was taken during ATSE’s 81st board meeting as part of the organisation’s commitment to a technology-led transition to net zero emissions.
On September 1 2021, ATSE launched its Position Statement: Australia’s technology-led transition to net zero emissions The Statement concluded that Australia should:
- Commit to achieve net zero emissions by 2050 at the latest, and set a more ambitious interim emissions target for 2030
- Prioritise the immediate deployment of existing mature, low-carbon technologies which can make deep cuts to high-emitting sectors before 2030
- Develop a national net zero emissions policy and implementation framework.
On 26 October 2021, ahead of COP 26 in Glasgow, the Australian Government launched its Long-Term Emissions Reduction Plan which commits to achieve net zero emissions by 2050. While ATSE welcomed the Government’s announcement, the Academy reiterated earlier calls for a stronger mid-term 2030 target supported by rapid deployment of existing and emerging renewable technologies and a net zero implementation framework.
ATSE is committed to taking action through its investments and setting a strong example which mirrors the independent and impartial advice it provides to the Government. In addition, the Academy’s financial advisors assure that this is also a prudent financial decision. This includes a requirement that all investments in companies will be carbon neutral; actively transitioning to net zero emissions by 2030 (or 2050 by the very latest); and/or supporting the deployment of net zero and negative emissions technologies, such as carbon capture and storage.
As a Learned Academy representing almost 900 Fellows, including many of the country’s leading applied scientists, technology innovators and engineers, the Academy has a decisive role to steward this whole of economy transition.
ATSE is committed to leading by example through its business practices as Australia embarks on a technology-led transition to a cleaner, more sustainable future.