Joint Standing Committee on Trade and Investment Growth Inquiry

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Summary

The Australian Joint Standing Committee on Trade and Investment Growth is undertaking an inquiry into the climate change position of financial firms and its impact on Australian export sectors as Australian banks, insurers and pensions funds have begun restricting their support for the resources sector especially.

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Business case

The domestic and foreign investment opportunities and challenges for Australia's export industries and their associated businesses, arising from changes in prudential standards and practices across banking, insurance and superannuation institutions, in addition to publicly-listed companies, with particular reference to:

  1. The existing and future contribution of Australia's export industries;
     
  2. The investment guidance and advice provided by Australia's financial regulators, including the Australian Prudential Regulation Authority (APRA), the Reserve Bank of Australia (RBA) and the Australian Securities and Investments Commission (ASIC), to banking, insurance and superannuation institutions, and also to publicly-listed companies, in relation to investment in Australia's export industries;
     
  3. The approach and motivations of our financial institutions, including banks, insurers and superannuation funds, as well as publicly-listed companies, to their investment in Australia's export industries;
     
  4. The consequential impacts of (2) and (3):
    a) For legitimate. law-abiding businesses connected to Australia's export industries;
    b) On regional and rural economies that are reliant on Australia's export industries. particularly in light of the COVID-19 recession;
    c) Our national economy. particularly in light of the COVID-19 recession;
     
  5. Any other related matter.

This inquiry is particularly relevant for the Australian export industries. 

Collaboration details

Type
Consultation
Status
Completed
ESG theme
  • Environment
Created on
Geography
Australia