Australian banks welcome legislative certainty on climate change

The Australian Banking Association and member banks have welcomed the passing of the Federal Parliament’s climate change bill to cut emissions by 43% by 2030 and deliver net zero emissions by 2050.
 
ABA Chief Executive Anna Bligh said this provided certainty to businesses and households, and to the banks that support them, and is the first step on the longer-term journey towards future targets as part of an increasingly decarbonised economy.

“The impact of climate change, its mitigation, and the ongoing decarbonisation of the economy is now critical to every aspect of our lives,”

ABA CEO Anna Bligh

 “The impact of climate change, its mitigation, and the ongoing decarbonisation of the economy is now critical to every aspect of our lives,” ABA CEO Anna Bligh said today.
 
“It impacts how we use and value our homes, how we run our businesses, how we embrace technology as we digitise, how our farmers produce our food and fibre and how we care for our environment. No matter how you slice and dice it, climate change is, and will remain, a core economic issue for Australian banks.
 
“This is a positive step forward for the country and provides certainty for investors, clarity for businesses, and opportunity for all Australians to seek out future opportunities, as part of this ongoing transition to a low-carbon future.”