Fewer Australian business leaders want investment in coal projects and more are throwing their support behind the NBN and regional infrastructure.
Just one in 10 company directors consider new coal projects among their three most important areas for infrastructure investment, a poll of company directors shows.
That's down from one in six in the second half of 2017.
Half of the 945 company directors surveyed by the Australian Institute of Company Directors rate investment in renewable energy as a top priority, while regional infrastructure was a key issue for 42 per cent of them.
Support for investment in telecommunications such as the NBN surged to 38 per cent, from 27 per cent six months ago.
AICD chief executive Angus Armour said energy policy and pricing have been big issues, compounded by a strong focus on climate change.
"So if you add all those points together, it's not surprising to see coal perhaps diminished in relative priority," he said.
"They're saying we do need energy policy for energy security and they're focused on climate change as a long-term impact on our economy."
The poll also revealed executives are increasingly concerned about their business's data security, are slightly less glum about government infrastructure spending, and increasingly optimistic about overall growth.
The poll's director sentiment index hit its highest level since the index began in 2011, as more directors take an optimistic view of the Australian and world economy.
"We've had the best jobs growth domestically that we've ever seen and that's reflected in what our members are saying," AICD chief economist Stephen Walters said.
"Hiring and investment intentions are going up."
But directors still aren't happy about the tax system, calling for whole-of-system tax reform and less focus on "short-termism".
The AICD says hiking the GST and applying it to more products - coupled with a compensation package for low-income earners - would allow "nuisance state taxes" such as stamp duty top be scrapped.
