Fund manager Australian Ethical is among 155 companies supporting a UN-backed campaign to urge governments to align their COVID-19 recovery plans with climate science.
The local UN Global Compact Network Australia (GCNA) urged the Federal Government to incorporate tougher action on carbon emissions in its recovery plan.
It should also consider establishing a guide for how Australia would reach net zero while taking into account regional communities, establish a national climate and energy policy framework and supported renewable energy targets.
Kylie Porter, executive director of the GCNA, said it was important that the progress that had been made on climate change was not lost because of COVID-19.
“There is a risk that the momentum that has been building around climate change agenda will be lost as a result of the pandemic and we will remain off track to meet targets set for 2030 and beyond,” she said.
“This is an opportunity for our policymakers to shape a new Australia – one that ensures an equitable and sustainable future for all of us.”
The other Australian firms supporting the initiative were Yarra Valley Water, Energetics, Edge Environment and Community Services.net (CSnet).
In signing, the firms were calling on the Government to ‘prioritise a faster and fairer transition from a grey to a green economy’.