Investors said the Morrison government’s commitment to net zero emissions by 2050 was “not enough” to convince them to back new technologies in Australia, saying stronger short-term targets as well as new policies will be needed.

While Prime Minister Scott Morrison has refused to strengthen the 2030 target to take to the COP26 summit in Glasgow next month, investor groups warned the money was already flowing out of Australia into countries that have beefed up their climate commitments.