The BGA Australia Team led by Managing Director Fergus Hanson, wrote an update to clients on the recent release of an essay written by Australian Treasurer Jim Chalmers on his vision for the future of Australia’s economy.


  • In an essay titled “Capitalism After the Crisis,” Treasurer Jim Chalmers foreshadows an interventionist approach in which the government partners with businesses and unions to promote an inclusive economy. Chalmers cites three objectives: An orderly energy and climate transition, a more resilient economy in the face of geopolitical uncertainty and growth that prioritizes equality and equal opportunity.


  • Chalmers wants greater coordination and co-investment with the private sector, noting that government, business and investor interests and objectives are “increasingly aligned and intertwined.” Chalmers’ essay is a signpost for how the Labor government intends to reform the economy over the next decade.
  • The government intends to create a “new sustainable finance architecture” to label the climate impact of investments. Chalmers sees this beginning with climate finance then expanding to incorporate nature-related risks and biodiversity goals.


  • Companies operating in Australia should prepare for emerging co-investment opportunities – and greater scrutiny – in the Australian treasurer’s quest for “values-based capitalism.”
  • Companies should be prepared for Chalmers to seek greater global collaboration on promoting “values-based capitalism,” particularly in forums such as the Group of 20, the International Monetary Fund, the Organization for Economic Cooperation and Development and the Asia-Pacific Economic Cooperation.

BGA will continue to keep you updated on developments in Australia as they occur. If you have any comments or questions, please contact BGA Australia Managing Director Fergus Hanson at