A legal challenge has been lodged against Australia’s environment minister, Tanya Plibersek, claiming she did not adequately consider climate risks when approving two new coal mining projects. The action, filed in the Federal Court of Australia, seeks a judicial review of the minister’s decision, arguing there were legal errors because Plibersek did not consider the…
Lawsuit Filed Against Australia’s Environment Minister for Not Considering ‘Climate Risk’
June 5, 2023
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Aussie Home and Business Buyers Should Be Advised of Climate Risk, Report States
Australians seeking to buy a home or business should be given information about the climate risks relating to their new property. That’s one of the ideas in a landmark 1000-page Productivity Commission report, which has given federal, state and local governments food for thought on policy changes to improve the economy. The commission said Australia…
Fed Taking ‘First Step Toward Pressuring Banks’ Into Restricting Energy Investments With Climate Risk Analysis
The Federal Reserve has called on prominent American banks to conduct a pilot climate assessment for analyzing how their businesses would be impacted by “climate change,” including a transition to a low-carbon economy, despite worries that the measure will end up limiting investments in traditional energy firms. During the course of the climate scenario analysis…
Climate Risk and Financial Stability
Commentary Shortly before her nomination as Treasury secretary in the Biden administration, Janet Yellen appeared on a Bloomberg New Economy panel discussing the role of central banks as the world struggles to emerge from the COVID-19 pandemic. The panel revealed a sharp difference of opinion between Yellen and one of her predecessors—Larry Summers, President Bill Clinton’s second…
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