JIM CHALMERS MP
SHADOW TREASURER
MEMBER FOR RANKIN

CHRIS BOWEN MP
SHADOW MINISTER FOR CLIMATE CHANGE AND ENERGY
MEMBER FOR MCMAHON

LABOR WELCOMES APRA AND RBA PROGRESS ON CLIMATE DISCLOSURES

Labor welcomes today’s moves by the independent financial regulators to provide further guidance on climate-related risks to the economy and financial system.

This is a very important and welcome step.

Investors are leading the way in ensuring there is greater transparency and accountability on climate-related risks but they need more clarity and consistency.

More and more companies are committing to net zero emissions and have established targets and plans to get them there.

Employers and regulators are leading the way where Scott Morrison, Barnaby Joyce and Josh Frydenberg will not.

Scott Morrison’s failure to take responsibility in this area and the Liberals’ and Nationals’ 22 policies in 8 years have created serious and damaging uncertainty for investors.

These welcome steps by the regulators will provide more clarity on what companies should be reporting.

There is still more work to be done to ensure climate risk disclosures are more usable, credible, and comparable.

This would help investors make informed decisions and will help drive jobs and investment in cleaner and cheaper energy and the jobs and opportunities which flow from it.

THURSDAY, 4 NOVEMBER 2021