Australia's peak business lobby warns the nation's project approvals process needs improvement under environmental law reform or significant investment will "amount to nothing".

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In an address to the Business Council of Australia's annual dinner on Monday, chief executive Bran Black mirrored Anthony Albanese in speaking about the net-zero transition.

The prime minister said the private sector would play a defining role in fuelling economic growth linked to the renewables sector.

But Mr Black said business needed to plan with certainty if it was to have the confidence to invest.

He said while ambition mattered, how it was delivered was criti

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