Australia’s big banks reject Nationals’ claims managing climate risk is ‘virtue signalling’

Major banks say Australia's international trading partners require the sector to identify and disclose climate risk on their balance sheets

Australia's big banks have declared they need to actively manage climate risk because governments and regulators require it, and because the investor community is increasingly transitioning its focus towards a net-zero emissions economy".

The banks and their lobbying arm, the Australian Banking Association (ABA), have used new submissions to a parliamentary inquiry to implicitly rebut claims from senior Nationals that their actions amount to moral posturing or virtue signalling.