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Federal Treasurer Josh Frydenberg has thrown his support behind a proposed inquiry that will grill financial regulators and banks over plans to pull back on lending or insuring mining projects because of climate change.
Big banks including the ANZ, which has ruled out financing any new coal mines or coal-fired power stations and asked its biggest clients to provide plans to decarbonise, are expected to be hauled in front of the parliamentary probe to be chaired by Coalition climate sceptic George Christensen.
George Christensen, at a pro-coal rally in Queensland last year, will chair the inquiry.
Credit:Dominic Lorrimer
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