Far from being a disinterested arbiter of banking regulation, Kenneth Hayne’s comments about climate change have proven he is just another left-wing representative of the Canberra swamp and the wrong person to head the banking royal commission.

In an address to the Centre for Policy Development (CPD) last month, Hayne argued “a director acting in the best interests of the company must take account of, and the board must publicly report on, climate-related risks and issues relevant to the entity”. Hayne appears to believe climate risk should be considered a fiduciary duty for company directors, which under the Corporations Act would mean it attracts a maximum penalty of five years in prison for a breach.