Professional services firm PwC Australia recently announced the formation of a new dedicated Energy Transition business, aimed at helping to facilitate Australia’s transition to a decarbonized economy by 2050. The launch of the new practice comes as Australian companies prepare to ramp investments on their energy transition strategies, with PwC anticipating that businesses will spend over USD3.5bn on advisory services in this area by 2030. The recently elected Australian government under Prime Minister Anthony Albanese has pledged to significantly strengthen the country’s climate commitments, including raising Australia’s emissions reduction goal to 43% by 2030 and plans to enshrine its interim and 2050 net zero targets in legislation. PwC stated that a “rigorous recruitment drive” is underway to grow the business, which launches with 132 experts. The new Energy Transition team will sit within PwC’s Financial Advisory business, and feature energy transition and/or ESG specialists, including existing and new partners, and employees from PwC’s deals, infrastructure, consulting, and assurance businesses.

Source: ESGToday