Australia risks offshore investment drought from climate change -RBA

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SYDNEY : Australia could face rising costs of capital and divestment by offshore funds if it is not seen to be doing more to address climate change, a top central banker said on Thursday.Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said foreign investors were increasingly bringing up the is

SYDNEY : Australia could face rising costs of capital and divestment by offshore funds if it is not seen to be doing more to address climate change, a top central banker said on Thursday.

"To date, we have only isolated examples of divestment from Australia because of climate risk, but the likelihood of more significant divestment is increasing," Debelle said. Treasurer Josh Frydenberg last month warned Australia had to match developed nations and commit to cutting emissions to net zero by 2050, or face higher borrowing costs.

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