APRA warns company directors about personal liability on climate change

APRA warns company directors about personal liability on climate change. Politicians should also take note.

APRA, the Australian Prudential Regulation Authority, has warned company directors and other decision-makers that they may be held personally responsible for dumb investment decisions in relation to a transition to a low emissions economy. If a coal-fired power station with or without CCS becomes a stranded asset, whoever approved the funds could be in the gun.

So even if the government changes the legislation to allow CEFC to lend to new coal-powered electricity generators, responsibility still lies with the directors of the Clean Energy Finance Corporation (CEFC). Continue reading APRA warns company directors about personal liability on climate change