Antinuclear

Australian news, and some related international items

Banks warned of ‘regulatory action’ as climate change bites global economy

Australian Prudential Regulation Authority says it is quizzing companies about their actions to assess climate risks, Guardian, Michael Slezak, 1 Dec 17, Australia’s financial regulator has stepped-up its warning to banks, lenders and insurers, saying climate change is already impacting the global economy, and flagged the possibility of “regulatory action”.

Geoff Summerhayes from the Australian Prudential Regulation Authority (Apra) revealed it had begun quizzing companies about their actions to assess climate risks, noting it would be demanding more in the future.

Apra also revealed it has established an internal working group to assess the financial risk from climate change and was coordinating an interagency initiative with the corporate watchdog Asic, the Reserve Bank of Australia (RBA) and federal Treasury to examine what risks climate change was posing to Australia’s economy…….https://www.theguardian.com/australia-news/2017/nov/29/banks-warned-of-regulatory-action-as-climate-change-bites-global-economy

Advertisements

December 2, 2017 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: