CLIMATIC CHANGES – AUSTRALIA

Kenny rejects Murdoch climate coverage attack

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Original article by Max Mason
The Australian Financial Review – Page: 4 : 16-Jan-20

News Corporation’s climate coverage continues to attract scrutiny following criticism by James Murdoch, a director of the global company and the son of media mogul Rupert Murdoch. However, News Corp Australia commentator Chris Kenny contends that News Corp is one of the few media organisations that provide "fact-based, varied and realistic debate" on the issue. He adds that global coverage of climate change tends to be dominated by "alarmist and hysterical views". Former News Corp Australia employee Emily Townsend recently alleged that the company has engaged in a misinformation campaign to divert attention from climate change during the bushfires crisis.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, SKY NEWS, 21ST CENTURY FOX INCORPORATED

James Murdoch criticises father’s news outlets for climate crisis denial

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Original article by Jim Waterson
The Guardian Australia – Page: Online : 15-Jan-20

The climate coverage of News Corp Australia’s newspapers has come under scrutiny in the wake of the bushfires crisis. James Murdoch and his wife Kathryn have issued a joint statement in which they criticise the media group’s continued climate change denial stance. Murdoch is a director of parent company News Corporation, and he stepped down as CEO of 21st Century Fox when it was sold to Walt Disney Company. Media mogul Rupert Murdoch told shareholders at New Corp’s 2019 AGM that there are no climate change deniers at the company.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOX NEWS, 21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY

Technology is the key to climate policy

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Original article by John Kehoe, Andrew Tillett
The Australian Financial Review – Page: 3 : 14-Jan-20

Prime Minister Scott Morrison has indicated a slight shift in the federal government’s approach to climate change in the wake of the bushfires crisis. This follows community angst about the apparent link between climate change and the hotter and drier summer weather that contributed to the crisis. The government sees investments in low-emissions technology as the best way to cut carbon emissions and meet its 2030 carbon emissions targets, and it may not need to use Kyoto carryover credits to reach these targets.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Climate threatens ratings: Moody’s

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Original article by David Rogers
The Australian – Page: 13 & 16 : 14-Jan-20

A report from Moody’s Investors Service has concluded that the bushfire crisis will reduce GDP growth by less than 0.1 per cent. The ratings agency adds that the federal and state governments have sufficient fiscal buffers to cope with the current crisis, but it warns that an increase in climate change-related natural disasters in the future could negatively affect their credit ratings. Meanwhile, Anthony Walker of S&P says the federal government’s return to a Budget surplus may be delayed by the bushfire emergency, although he adds that this would be unlikely to have any effect on Australia’s credit rating.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS

PM courts states for fire inquiry

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 10-Jan-20

Prime Minister Scott Morrison has emphasised that a national inquiry into the bushfire crisis will only go ahead if it has the support of state governments. He has also told Coalition MPs that it could take the form of a royal commission or a judicial inquiry. Meanwhile, some Liberal backbenchers contend that the Coalition will need to revise its climate change policy in the wake of the bushfire disaster. Morrison has defended the government’s record on climate change, stating that carbon emissions have fallen by 50 million tonnes a year on average since the Coalition took office in 2013.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

ASIC next in line to be climate cop

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Original article by Michael Roddan
The Australian – Page: 1 & 4 : 24-Dec-19

The Australian Securities & Investments Commission will begin to legally enforce a requirement that listed companies must inform their shareholders and customers of any material risks from climate change. ASIC has not yet used this enforcement power under the Corporations Act 2001, but it intends to do so in 2020. Woolworths and Treasury Wine Estates are among the companies that have warned of the potential impact of climate change in their financial reports.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WOOLWORTHS GROUP LIMITED – ASX WOW, TREASURY WINE ESTATES LIMITED – ASX TWE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CITIGROUP PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RESERVE BANK OF AUSTRALIA

Hayne rebukes directors, PM on climate risk failure

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Original article by James Fernyhough
The Australian Financial Review – Page: 1 & 4 : 9-Dec-19

Royal commissioner Kenneth Hayne says there is no excuse for inaction when it comes for the need for directors to deal with climate change risk. Hayne says it is now international expert consensus that such risk exists, and that Australia’s financial regulators are all clear that climate change represents real and measurable financial risks. Hayne was speaking at a recent gathering of business leaders, regulators and government officials that was organised by the Centre for Policy Development.

CORPORATES
CENTRE FOR POLICY DEVELOPMENT LIMITED, HIGH COURT OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE GROUP LIMITED – ASX MQG, QBE INSURANCE GROUP LIMITED – ASX QBE, COLES GROUP LIMITED – ASX COL

Activist threat to blockade airport

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 25-Nov-19

Extinction Rebellion has demanded immediate action on climate change in the wake of the recent bushfires. The climate activist group has warned that federal MPs will be prevented from accessing Canberra airport when parliament rises for the year on 5 December unless they take action to shut down the fossil fuel industry and adopt a target of net zero emissions by 2025. Shadow resources minister Joel Fitzgibbon says the latter demand would destroy the Australian economy. The proposed blockade has also been criticised by Liberal-National Party MPs Michelle Landry and Keith Pitt.

CORPORATES
EXTINCTION REBELLION, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Convene COAG over disasters: Albanese

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Original article by Joe Kelly
The Australian – Page: 4 : 25-Nov-19

Labor leader Anthony Albanese has called for an emergency meeting of the Council of Australian Governments in the wake of deadly bushfires. He says the agenda for a COAG meeting should include Australia’s preparedness for natural disasters, the development of an action plan on adaptation to climate change, and increased investment in research on natural disaster response, recovery and mitigation. The federal government will provide grants of up to $15,000 to assist farmers and small businesses to recover from the recent bushfires in New South Wales.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Labor rethinks climate policies

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Original article by Richard Ferguson,{SHARE}Sascha O’Sullivan
The Australian – Page: 2 : 16-Sep-19

Labor’s frontbench is divided on how ambitious the climate change policy that it takes to the next federal election should be. Labor leader Anthony Albanese has not ruled out getting rid of Bill Shorten’s target of a 45 per cent emissions reduction target by 2030, while Opposition climate spokesman Mark Butler says whatever target Labor comes up with will still be an improvement on the federal government’s target. Meanwhile, Albanese has criticised the federal government for not taking steps to deal with the drought, following revelations that parts of New South Wales could run out of water within six months.

CORPORATES
AUSTRALIAN LABOR PARTY