Investors could shun Australia without 2050 net zero commitment, RBA warns

1 week ago 19

Reserve Bank deputy governor Guy Debelle says other countries are adopting net zero policies, increasing the cost of emissions-intensive activities in Australia

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Australia faces an intensifying risk of global investors divesting bonds or equity if we don’t join other nations in making a net zero emissions commitment for 2050, the Reserve Bank has warned.

As Scott Morrison tries to persuade the Nationals to adopt new climate commitments ahead of the Cop26 in Glasgow, RBA deputy governor Guy Debelle told an investment conference on Thursday climate risk was raised in “most conversations I have with foreign investors – this is a marked change from a few years ago”.

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