11 September 2023
Over the last 20 years, the finance industry has helped establish the renewable energy sector as the greatest decarbonisation success story to date, with annual investment in the sector growing from $US32 billion in 2004 to $US495 billion in 2022.1 During that period, renewable energy costs have fallen sharply, helping solar and wind become key contributors to energy supply and a mainstream asset class for institutional investors globally.
Macquarie recognises the science on climate change and the widespread disruption it is causing. We believe that we can contribute positively to the challenges and opportunities of climate change mitigation and adaptation through the financing of practical solutions driven by our core capabilities. We also believe that the transition must be managed and orderly, which is why we are actively supporting carbon intensive industries to reduce their emissions and continuing to work with oil and gas companies, in recognition that much of the world will depend on these industries for years to come.