The certainty we would like to create from an increasing carbon price, I think, is not certain enough to be “bankable” or “financeable” for investors. I think that when industry is going to financial institutions to get loans or equity on the back of a rising carbon price, that is not certain enough. There are things that government could do to provide more of a guarantee to lower the costs of financing there.
On February 7th, 2022. See this statement in context.