Banks’ climate push is more than just hot air

Clancy Yeates, The Sydney Morning Herald, 15 May 2021

In the last month, Prime Minister Scott Morrison and Macquarie Group chief executive Shemara Wikramanayake have both given speeches touching on how to address climate change. Morrison and Wikramanayake shared some common ground, as both talked up the role of entrepreneurs in addressing climate change. But their differing choice of words shows while some politicians still treat climate change as a culture war issue, for bankers it is a financial risk, and a business opportunity. The bankers’ growing focus on climate risks has put them on a collision course with…

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