SENATOR CHRIS KETTER

CHAIR, ECONOMICS REFERENCES COMMITTEE

SENATOR FOR QUEENSLAND 

SENATOR JENNY MCALLISTER

MEMBER, ECONOMIS REFERENCES COMMITTEE

SENATOR FOR NEW SOUTH WALES

GOVERNMENT LAGGING BUSINESS ON CLIMATE CHANGE. AGAIN.

The government’s refusal to take climate change seriously is leaving it increasingly isolated and exposed. Today, a Senate committee has sided with investors in their calls for guidance for Australian firms on disclosure of carbon risk.

The Senate Economics References Committee‘s final report into into carbon risk disclosure agreed with experts that Australian businesses are already required to disclose climate change risks as part of their ordinary reporting. The report called on the government and regulators to provide business with more guidance on how to do this.

Senator McAllister said: “Throughout the inquiry we heard time and again from investors that they want more disclosure from Australian firms about their carbon risk. The laws are already in place - ASIC should step up and provide Australian companies with the guidance they need to properly disclose their carbon risk to the market.“

Senator Ketter said: “Climate change poses risks to Australian firms and their business models. The market deserves to know what those risks are.“

The report noted the evidence to the committee that regulatory uncertainty was a big part of the carbon risk facing businesses, and called for the government to end the confusion.

Senator McAllister said: “Investors recognise that climate change is a risk to Australian businesses – it is time for this government to do the same and have a proper policy to tackle climate change.“

FRIDAY, 21 APRIL 2017

MEDIA CONTACTS: LYNDAL HOWISON (MCALLISTER) 0404 854 033 

                            ANTHONY GALLACHER (KETTER) 0422 574 108