Citi Forms Australian Green Energy Transition ESG Advisory Teams
(18 October 2022 – Australia) Citi is creating dedicated coverage teams to advise Australian corporates energy transition in addition to associated environmental, social and governance (ESG) issues.
Corporate activism and takeovers focused on conventional energy and renewables have been a key feature in Australian investment banking in the last five years. Campaigns by Atlassian’s co-founders Mike Cannon-Brookes and Scott Farquhar to takeover AGL and Genex Power have emphasised the push behind the green energy transition in Australia which is a significant net carbon emitter.
Australia’s relative safe haven investment status amid rampant global inflation has jumped to the top of investors’ priority list and resulted in greater foreign direct investment (FDI) flows. A flexible labour market where wage expenses have remained relatively contained and terms of trade that are in the country’s favour also support further upside for business revenue growth.
“There’s a lot of opportunity even in Australia around ESG, there’s a lot of appetite in Australia and investment going into that” Citigroup Australia & New Zealand CEO Marc Luet commented at Citi’s investment conference in Sydney.
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