Page 10 - சுப்பெறன்ணுஅதிோன் முதலீட்டாளர்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Devastating : Can Rio s local boss rebuild trust after Juukan disaster?

Devastating : Can Rio s local boss rebuild trust after Juukan disaster?
brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.

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ACCC probes industry fund proxy advice

ACCC probes industry fund proxy advice
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Climate Change Concerns Make Funding Australia s Fossil Fuel Industry Projects Difficult

May 15, 2021 03:15 AM EDT Major global investors and insurers are finding it difficult for fossil fuel companies and their contractors in Australia to insure and finance major ventures due to efforts by major global investors and insurers to reduce their exposure to risks from the climate crisis. (Photo : lum-box on PIxabay) According to a contractor, a worldwide bid for cover for the infamous Queensland Adani coalmine failed, with more than 40 underwriters refusing to back it. Submissions to a legislative inquiry pushed by pro-coal backbenchers and supported by Morrison government ministers show the main impacts on the fossil fuel industry. Australia s Lack of Strategy

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Australia s fossil fuel industry admits it is harder to finance projects as climate concerns grow | Energy

The Australian Council of Superannuation Investors (Acsi) warned the government in a submission that âthe price of climate risk is on the riseâ and that an unplanned or âlate transition to a low-emissions economy will cost the Australian economy moreâ. Construction firm BMD, which is building a major section of the rail line for the Adani mine, said in more than 40 years of working in Australia it had never before been âexposed to such a large and immediate riskâ after insurers had refused to underwrite any of its work associated with the coal project. BMD wrote the company was aware the âworldwide insurance market is removing its support for coal-related projects and that coverage for projects associated with coal moving forward will see limited available coverage.â

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Small Australian Mining Firms Being Squeezed Out by Climate-Change Activism

Small Australian Mining Firms Being Squeezed Out by Climate-Change Activism Local Australian resource firms say financial institutions driven by climate change are constricting the industry by withholding vital insurance and loan services crucial for new mining projects. Leading some companies to warn that global mining conglomerates who can go offshore for financial support will become more entrenched as smaller businesses risk closing. This comes as a parliamentary inquiry examines the impact the financial sector is having on Australian exports. Chair of the Joint Standing Committee on Trade and Investment, George Christensen, said mineral exports generated billions in revenue for the country, and any impact on the industry needed to be scrutinised.

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