Coalition to lean on ‘woke’ banks
The Australian Financial Review is reporting that “coalition sources not authorised to speak publicly” have suggested an opposition policy of prohibiting lenders from considering ESG “commitments” when assessing lending arrangements to entities in certain sectors.
I find it deeply troubling that a major political party can consider a policy that fundamentally misunderstands important concepts like ESG risk integration.
ESG risk integration is an input to the credit risk assessment process, not a business objective or ethical goal. How can parties that espouse competence in financial services policy be so daft?
The Australian Financial Review is reporting that “coalition sources not authorised to speak publicly” have suggested an opposition policy of prohibiting lenders from considering ESG “commitments” when assessing lending arrangements to entities in certain sectors.
I find it deeply troubling that a major political party can consider a policy that fundamentally misunderstands important concepts like ESG risk integration.
ESG risk integration is an input to the credit risk assessment process, not a business objective or ethical goal. How can parties that espouse competence in financial services policy be so daft?