Australia’s banks can weather climate risk – RBA research

RWE Gwynt y Mor offshore wind farm

Australia’s financial system will be able to manage credit loss caused by climate change, but uncertainties around the extent of transition and physical risks remain.

In an article for the Reserve Bank of Australia’s (RBA) quarterly bulletin, researchers estimate the risks climate change poses to banks’ housing and business exposures.

Kellie Bellrose, David Norman and Michelle Royters note one potentially large exposure from climate change is mortgages, which account for approximately two

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