Australia Banks to Face Climate Stress Tests, Regulator Says
- Follows the U.K. and Singapore in ramping up surveillance
- Devastating bushfires add urgency to issue in Australia
Smoke envelops Bredbo, Australia, Feb. 1.
Photographer: Mark Graham/BloombergThis article is for subscribers only.
Get serious on climate change risks.
That’s the message from Australia’s prudential regulator as it joined counterparts in the U.K., the Netherlands and Singapore in ramping up its surveillance of how ready financial institutions are to deal with climate change.