Reserve Bank of Australia Deputy Governor Guy Debelle speaking
- Topic is Climate Risks and the Australian Financial System
- to the CFA Australian Investment Conference - Online
Headlines via Reuters:
- Australian climate risks increasingly entering the discussion with foreign investors
- climate has implications for cost, ease of access to capital for Australian corporates, govt
- not yet any obvious change in investor appetite for Australian bonds or equity
- sees increasing risk climate will lead to more significant divestment from Australia
- net zero policies abroad are raising costs of emissions
- says plenty of opportunities for Australia in renewable energy production
- says climate complexities mean banks need regulatory guidance to meet risks
- stress tests of local banks suggest losses from extreme weather likely manageable
Nothing from Debelle here on his outlook for the Australian economy (climate risk excepted) not monetary policy (ditto). Various bank officials, most notable Governor Lowe, have said time and again there will be no hike to the cash rate before 2024 on their current projections. 'Tapering' will continue though.
Full text here:
