Resources Minister Matthew Canavan should wake up to the reality facing corporate Australia which, from next month, will be required to detail in their financial reports climate-related risks to their accounts.
Senator Canavan’s attack, reported today in The Australianand suggesting the big resources companies are out of touch with the Australian people, is just plain wrong.
Granted the federal election results in northern Queensland suggested support for the Adani coal mine, but that says nothing about the merits of including a price on carbon.
The big resources companies have used a climate price in their internal consideration of projects for literally years.
It is the resources minister who is out of touch, not the oil companies like Woodside.
Woodside boss Peter Coleman has joined BHP boss Andrew Mackenzie in supporting a push for a carbon price.
Neither would be regarded as raging radicals. Nor could the Australian Accounting Standards Board.
Yet the AASB said in December last year that best practice of company accounts would be to show climate-related risks in their accounts.
The business community is acutely aware of the impact climate change can have on their business and investors want to know about these risks before they put money into the company.
Having some idea about the price of carbon would then seem to be just a matter of good sense for company boards.
One day the resources minister may also see the reality.