The Federal Government’s Budget recognition of infrastructure as a great enabler of social, economic and environmental benefits has been welcomed by Infrastructure Sustainability Council (IFC) CEO Ainsley Simpson.
Ms Simpson said it was pleasing to see key election commitments honoured, in particular over $8 billion investment in infrastructure, the first $7 billion in commitments made through the Rewiring the Nation Fund, $42.6 million for the Climate Change Authority, $500 million to reduce transport emissions, and a total of $1.2 billion3 to 2030 to protect and manage and restore the Great Barrier Reef.
“This Budget represents a sensible first step in addressing climate change, but with only seven years to 2030 and the need to reduce our emissions by at least 43 per cent, it’s time to make every dollar count,” she said.
“We don’t have any more time to lose.”
She said while integrated climate, industry and infrastructure policy work is underway, immediate action is needed to deliver wider benefits from the $248 billion infrastructure pipeline and avoid locking-in decades-worth of harmful emissions.
“One immediate action would be ensuring wider outcomes and whole-of-life carbon are considered at the business case stage, a step made easier by the inclusion of national targets in the Infrastructure Australia Act in September.”
The Council also called for accountability for all government infrastructure investment to credibly measure what matters. The Infrastructure Sustainability (IS) Rating Scheme was seed-funded and launched in 2012 by the then Minster of Infrastructure & Transport, Anthony Albanese, and is designed to create a common and harmonised approach to advancing the sustainability performance of infrastructure.
The evidence of progress is the 55 per cent reduction of lifecycle energy CO2e emissions in 60 projects certified under the IS Rating Scheme over the past five years. These projects include Parramatta Light Rail, Level Crossing Removal Projects, Western Sydney Airport and South Australia’s North-South Corridor.