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For a man who once infamously and approvingly waved a lump of coal on the floor of Parliament, Scott Morrison made a remarkable concession this week.
It wasnât aimed at the Australians who protest the governmentâs climate change policies. It wasnât aimed at those at âdinner parties and wine bars of our inner citiesâ, as Morrison scoffed this week at the Business Council of Australiaâs annual dinner.
To many, his concession was a statement of the obvious. It has been said for years, again and again, by business leaders, economists and climate change experts. But hearing it from the Prime Minister was different.
How to slash the $17,000 super gap between men and women The average superannuation balance for men is consistently $17,000 higher than women but there are strategies to narrow the gap.
Money by Lilly Vitorovich
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Subscriber only Australian women are facing a big shortfall in superannuation unless they take action to rebuild their savings for retirement. The average super balance for men is consistently $17,000 higher than women - nearly $89,000 compared to just over $73,000, but the rate of growth is also faster for men. And experts says the gender super gap has widened to 18 per cent from 16 per cent in 2016, contrary to popular belief that it s closing, according to the research by Commonwealth Bank s subsidiary Colonial First State.
A focus on legacy products has become one of the biggest barriers to innovation and the industry needs to be prepared to bear the burden of investment in improving those systems.
EnvironmentAustralian regulator issues long-awaited climate risk guidance
Paulina Duran
2 minutes read
Australia s prudential regulator on Thursday unveiled long-awaited guidance for banks, insurers and pension funds around managing and disclosing climate-related risks, including physical, transition and liability exposures.
Issuing a draft version for consultation, the Australian Prudential Regulation Authority (APRA) said the guidance paper aimed to give greater clarity of its expectations but it did not create new requirements or obligations.
The guide was developed in consultation with peer regulators globally and is aligned with the recommendations from the global Task Force on Climate-related Financial Disclosure (TCFD), set up by the G20 rich countries to coordinate rules.
APRA warns banks will face lawsuits if they fail to account for climate risks reneweconomy.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reneweconomy.com.au Daily Mail and Mail on Sunday newspapers.