Boutique consultancies back WWF's renewables recovery plan
A letter from the WWF and B Lab Australia and New Zealand has been signed by 70 Australian businesses. Boutique consultancies Venturetec, Humanitarian Advisory Group and Point Advisory are among the firms who call on Australia’s Federal Government to ramp up investments in renewable energy as part of the country’s economic recovery.
The world is facing a once-in-a-lifetime challenge as it begins to rebuild from Covid-19 – and according to the World Wildlife Fund (WWF), this could represent a once-in-a-lifetime opportunity for Australia. The global organisation argues that the nation is now faced with the choice of investing in old technologies and being left behind as the rest of the world shifts to a low carbon future, or emerging from the current crisis as a renewable energy super power in a post-pandemic world.
Such a move would be a colossal shift for Australia, currently governed by a Prime Minister who famously brought a lump of coal into Parliament to accuse his pro-renewable adversaries of having “coalaphobia” – however, a string of Australian businesses have already signed up to back the WWF’s call to arms.
With Scott Morrison coming under fire from the very businesses he claimed low-cost coal would be in the interests of, there is notable pressure mounting on the Federal Government to support a $2 billion renewable-led stimulus package in the 2020-2021 Budget.
In a letter co-penned with sustainability network B Lab Australia and New Zealand, the WWF argues that a renewable-led recovery backed by this investment would create over 100,000 direct jobs and future-proof the economy, while bringing manufacturing back to Australia’s shores, help grow existing industries, unlock new industries and boost global exports. It adds that every dollar of stimulus spent on clean energy projects generates nearly three times as many jobs per dollar than investment in fossil fuel projects.
Among the 70 businesses backing the WWF’s case – from IKEA to Unilever – there are also three boutique consulting firms. Specialising in corporate innovation, strategic design, and venture-building, Venturetec signed the letter, as did international trade and development firm Humanitarian Advisory Group, and Point Advisory, a consultancy specialised in climate change, energy, environment, sustainability and human rights.
The news follows a recent report from Big Four firm EY, which recommended that Australia should grow its focus on renewables, as it looks to recover from its first technical recession in almost three decades. The report commissioned by the WWF found that a $2 billion investment could yield $10 billion in economic returns to help Australia thrive in a post-coronavirus world.
