Green clouds blow forcefully into Canberra: Australian Prime Minister Scott Morrison must be wondering which climate criticism to tackle first, says AntonyMCurrie
is one of the few to take climate-related action Down Under. In 2019, it dumped bonds issued by emissions-heavy states Queensland and Western Australia. Almost half the country’s A$800 billion or so of federally issued debt is held abroad.
If more follow the Swedish central bank’s lead, it would at the very least drive up borrowing costs, and could make it hard for some to tap markets at all. With the next federal election coming soon, financiers may prove to be a pivotal constituency that casts the deciding vote.- Reserve Bank of Australia Deputy Governor Guy Debelle warned in a speech on Oct. 14 that “the likelihood of more significant divestment [from Australian assets because of climate risk] is increasing”.
- He described climate change as a “first-order risk for the financial system” and outlined the work the country’s regulators are undertaking to improve the scope and comparability of data on the issue.Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.
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