Calling for ambitious 2035 emission reduction target
Our team has been campaigning for the development of effective and ambitious climate policy by state and federal governments and as part of that campaign, our CEO John McMurdo has written an open letter to the Prime Minister.
We know that there are powerful voices behind the scenes arguing for the status quo, so we wanted to be loud in our call for an ambitious target that will send a clear signal to the market and stimulate investment in the transition, helping to create new industries and jobs, and protect and grow our economy. This letter will feature in the AFR, Sydney Morning Herald and The Age on Thursday 21 August.
We’ve been working with a range of other organisations behind the scenes, including the Climate Council. If you'd like to add your voice to ours, then share the article, copy the letter and send it to your local member or the PM or finally sign the Climate Council’s petition via the following link:
Dear Prime Minister,
As long-term investors in Australia’s future, we urge your government to set an ambitious national emissions reduction target for 2035—one that reflects our international obligations under the Paris Agreement and meets the expectations of the Australian public.
Climate change is no longer a distant threat—it is a pressing and escalating challenge that impacts our environment, economy, and the wellbeing of all Australians. Australia has both the opportunity and the responsibility to lead by example in the global effort to limit warming to 1.5°C.
Encouragingly, most Australian states have already committed to targets that could collectively reduce emissions by up to 71% by 20351. These commitments demonstrate the feasibility of bold climate action and the strength of public support. However, without a unified national target, we risk fragmentation, missed opportunities, and diminished credibility on the international stage.
We believe a national target of 85% emissions reduction by 2035 is not only achievable—it is essential for Australia’s economic prosperity and global credibility.
Being ambitious will enable the orderly transition of our economy, sending a clear signal to the market which will stimulate investment in emerging industries and jobs, and reduce the risk of stranded assets. Investing in cheaper, cleaner energy and the net zero transformation is one of the Productivity Commission’s five pillars for driving Australia’s long-term growth and competitiveness2.
Ambition also means avoiding regression. A national target that falls short of existing state commitments—or a weakening of environmental protections—risks undermining the progress already underway and slowing momentum.
We urge you to build on the commitments already made by the states to accelerate the development of new industries, jobs, and export opportunities. This will not only position Australia as a forward-thinking global leader—it will place us firmly on the path to long-term economic prosperity.
On behalf of Australian Ethical customers and all concerned Australians, sincerely
John McMurdo
Chief Executive Officer & Managing Director, Australian Ethical Investment Ltd
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