"Banks and other big businesses will be forced to come clean with the public
about what they are doing to cut emissions under plans put forward by the
The government is also looking for ways to crack down on “greenwashing” – or
when businesses try to win over consumers by overhyping their environmental
The treasurer, Jim Chalmers, will say in a speech in Sydney on Monday that
Australian firms “need to make credible disclosures to remain competitive in
global capital markets”.
“There’s now broad acceptance that proper disclosure of these financial risks
and impacts isn’t a nice-to-have extra,” he will say, according to speech notes
distributed by his office in advance.
“This information is need-to-know – essential to mobilising the weight of our
financial system behind the net zero transition.”
Treasury will release a consultation paper on Monday on the development of an
Australian climate risk disclosure system."
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics