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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 pe...

Advertisement The banking regulator says lenders may need to limit their exposure to customers at most risk from climate change, or even consider dumping some of these clients, as it pushes the industry to sharpen its focus on climate risks. The Australian Prudential Regulation Authority (APRA) on Thursday for the first time released prudential guidance on climate change risks in a move to give banks, insurers and super funds more clarity on a fast-moving issue. The document did not set hard rules on lending or investment, but said institutions were expected to assess their portfolios for eco...

The Straits Times The Australian property market is defying the naysayers.PHOTO: AFP https://str.sg/JyZK They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398. Let's go! Spin the wheel for ST Read and Win now.

Cheap money has a high hidden price for society The Reserve Bank hopes that low rates will see economic growth lift off. But it has already blasted the price of a home into a dangerous new orbit. Share The great Australian dream is in danger of falling victim to the ‘bystander effect’. House prices surged at their fastest monthly pace in 32 years in March, equal to annualised growth of 33 per cent. A generation denied entry to the housing bubble.   Louise Kennerley Property prices are virtually certain to continue their upward ascent, cementing Australian houses as among the most expensi...

Reserve Bank of Australia Holds Cash Rate Amid Red Hot Housing Market The Reserve Bank of Australia (RBA) has said it would continue to “carefully” monitor trends in housing borrowing after announcing it will hold the cash rate at the current record low 0.1 percent. Following the bank’s monthly meeting, RBA Governor Philip Lowe noted Australia’s economic recovery was much stronger than initially expected. However, despite the housing market experiencing the fastest price growth in 32 years, Lowe reiterated that the bank would not raise interest rates until sustainable inflation reache...