Julia Gillard appointed as chair of HMC Capital Energy Transition Fund, leading net zero goal efforts
The Energy Transition Fund will support investments in solar, wind, battery, and other emerging technologies.
Former Australian Prime Minister Julia Gillard’s recent initiatives position her as a key figure in Australia’s move towards achieving net zero emissions.
This announcement coincides with alternative asset management firm HMC Capital appointing her as the chair of the newly established Energy Transition Fund.
The fund, scheduled for launch in the upcoming months, will focus on investing in alternative energy sources such as wind, solar, battery, bio-fuels, and other emerging technologies.
Furthermore, the fund aims to secure $2 billion in funding from institutional and wholesale investors.
Ms. Gillard expressed her enthusiasm and honor for her appointment as the chair of HMC’s Energy Transition Fund.
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“With its design and HMC’s expertise in investment management, the fund is well-positioned to drive Australia’s transition to net zero carbon emissions by 2050,” she stated.
“During my time as prime minister, I devoted significant effort towards combating climate change, and this new role reflects that commitment.”
David Di Pilla, Managing Director and CEO of HMC Capital, expressed delight in Ms. Gillard’s experience adding value to the company.
“We are thrilled to have Julia Gillard, a globally renowned figure with extensive experience, chair our latest fund in this sector,” he commented.
In recognition of her contributions as prime minister and involvement in environmental matters, Ms. Gillard was appointed a Companion of the Order of Australia in 2017.
Green Groups Criticize Plan
The Australian government’s initiative to achieve net zero emissions by 2050 has faced skepticism in the past.
The plan was initially introduced in 2021 by then-Prime Minister Scott Morrison, and later revised under Prime Minister Anthony Albanese’s leadership.
Environmental scientist Professor Terry Hughes criticized the plan, calling it a “fairytale” with inadequate modeling, raising concerns about the vulnerability of the electricity grid.
Greenpeace CEO David Ritter also voiced criticism, questioning the credibility of the projections as they rely on technology forecasts that lack detail and are still in development.
“This plan is not to be taken seriously; it is a political hoax, not a genuine strategy,” Greenpeace asserted.
