The climate bombshell the politicians didn't touch

By Michael Pascoe
Updated February 20 2017 - 5:14pm, first published 4:09pm
APRA's Geoff Summerhayes highlighted the potential exposure of banks' and insurers' balance sheets to real estate impacted by climate change and to re-pricing or even 'stranding' of carbon-intensive assets in other parts of their loan books. Photo: Jonathan Carroll
APRA's Geoff Summerhayes highlighted the potential exposure of banks' and insurers' balance sheets to real estate impacted by climate change and to re-pricing or even 'stranding' of carbon-intensive assets in other parts of their loan books. Photo: Jonathan Carroll

Never mind the politicisation of energy and carbon policy – the market and legal system is moving rapidly to instil the discipline and punishment the government isn't game to discuss.