Josh Frydenberg admits climate change a major preoccupation in global markets

Treasurer says there are lots of internal conversations' on whether Australia could make a firm net zero commitment at Cop26

• Josh Frydenberg on nation's Covid response and climate change action - Australian politics podcast
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Josh Frydenberg has acknowledged that managing carbon risk is now a major preoccupation in global capital markets as the Morrison government mulls what commitments it will take to the Cop26 in Glasgow later this year.

While Nationals have incorrectly characterised managing carbon risk as virtue signalling on multiple occasions, the treasurer told Guardian Australia's politics podcast that climate change, and the assessment of carbon risk, was now influencing global capital markets in a significant way". He acknowledged it was a factor behind financial stability".