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Nick Hossack

BlackRock shows why finance and fossil fuel politics shouldn’t mix

Governments that unleash fund managers and retail banks to make the hard climate decisions about oil and gas are dodging accountability.

One of the more insidious dog whistles I’ve heard recently is not from Donald Trump in his communications with US patriot groups, many of which believe the evil Washington/Wall Street elite is operating an international paedophile ring.

Asked on ABC TV whether the Labor government was going to cave in to Green calls for the ending of all new oil and gas projects in Australia, the newly appointed Labor Finance Minister, Katy Gallagher, said she was happy with the current regulatory protections, but then noted on three occasions that oil and gas projects had to get finance.

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Nick Hossack is a public policy consultant, former policy director at the Australian Bankers Association, and former adviser to John Howard.

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    Original URL: https://www.afr.com/policy/energy-and-climate/blackrock-shows-why-finance-and-fossil-fuel-politics-shouldn-t-mix-20220720-p5b37g