australia economy

erm power founder trevor st baker

Coal baron and LNP donor blasts RBA for sounding alarm on climate change

The coal baron and Liberal National party donor Trevor St Baker has blasted the Reserve Bank deputy governor, Guy Debelle, for sounding the alarm on climate change, branding a significant speech on Tuesday warning of risks to Australia’s financial stability “totally inappropriate”.

reserve bank of australia deputy governor guy debelle

Climate change poses risk to Australia’s financial stability, warns RBA deputy governor

As a debate over coal and energy fractures the Morrison government, Guy Debelle warned a forum hosted by the Centre for Policy Development on Tuesday that climate change created risks for Australia’s financial stability in a number of different ways.

scott morrison’s ‘climate solutions fund’ will partner with farmers, local governments and businesses to deliver ‘practical climate solutions’

Scott Morrison to reboot Tony Abbott’s emissions reduction fund with $2bn

The emissions reduction fund is a vestige of Abbott’s heavily criticised Direct Action policy. Funded by taxpayers initially at $2.5bn, the ERF pays farmers and businesses to cut carbon dioxide pollution to below what it would otherwise be. But an investigation by Guardian Australia last year found it was often difficult to determine if the fund was offering value for money.

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