X
  • About
  • Advertise
  • Contact
  • Events
Subscribe to our Newsletter
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
No Results
View All Results
Home Analysis

Mining, politics and the climate change stalemate

Scott Morrison this week suggested that the government will evolve its climate policy to meet its carbon emissions target. But the PM is clearly hedging his bets.

by James Mitchell
January 13, 2020
in Analysis
Reading Time: 3 mins read
Share on FacebookShare on Twitter

“The cabinet and the government will continue to evolve our policies to meet our targets and to beat them,” Mr Morrison said on Sunday. 

But here’s the catch: “I want to do that with a balanced policy which recognises Australia’s broader national economic and social interest,” the Prime Minister added.

X

This sentence perfectly illustrates the disconnect between politicians like ScoMo and the rest of us. People are starting to realise that climate change and environmental concerns aren’t just items on an agenda to be balanced with economic and social concerns. They are fundamental to our existence. The financial and social interests of a nation that fails to take action on climate change are pretty dire.

This summer’s bushfire crisis is the one single environmental disaster that appears to be uniting Australians, forging our various personal beliefs into a singular, dramatic realisation that the planet is in trouble and we need to take action. Even those on the fence about climate change can’t ignore the thick smoke that has blanketed much of the eastern seaboard in recent months. 

It is one thing to hear about the bushfires on the news and feel for those directly affected. But the extent of this natural disaster has impacted all of us to varying degrees: the scorched earth, the death of over a billion animals and the toxic fumes that envelope our cities are a daily reminder of the scale of this catastrophe. 

Australia has a high standard of living. It’s one of the reasons why population growth through migration is so high (and continues to prop up economic growth). It’s easy to take nature for granted when you have luscious bushland and the Great Barrier Reef in your backyard. But when you’re forced to stay indoors over the summer because the air is so polluted and the ocean has turned black with ash, your quality of life diminishes pretty rapidly and you start to question things. 

The 2020 Climate Change Performance Index, released last month, saw Australia receive the lowest rating out of 61 nations for climate policy. The report noted that “the newly elected government has continued to worsen performance at both national and international levels.”

Mr Morrison’s “national economic interest” is the mining industry. It creates jobs and aids the government in its quest for the political holy grail: a balanced budget. Mining delivers 8.5 per cent of Australia’s GDP. Reducing carbon emissions means reducing how much coal we pull out of the earth and burn for energy. This is Australia’s cash cow, and it won’t be disturbed until we can find an adequate replacement. The financial implications are significant. 

The Prime Minister could have made a decision on climate change this week. What he really did, though, is hedge his bets to avoid isolating voters. Comments about “evolving” climate policies are welcomed by the inner city environmentalists, while those about Australia’s “economic and social interests” speak to the miners and countless other service providers who need surety that their jobs won’t be impacted. 

Climate change is a scientific issue that is increasingly viewed through a political lens. Politics is arguably the largest prohibitor of progression in this country. A forward-looking climate policy must carry over into successive governments if it is to be successful. This would be a great outcome for the people, the nation and the planet. It’s just incompatible with our three-year election cycle.

As Australia burns, the old fossil fuel-powered political machine fails to make any hard turn towards a solution but instead rambles on towards yet another royal commission.

Related Posts

From greenwashing to greenhushing

by Stephen M Liberatore
December 16, 2025

As some US companies embraced "greenhushing" in 2025, global green bond markets kept expanding, showing the importance of careful credit...

Markets look to end the year with momentum

by Patrick Nicoll
December 8, 2025

After a year dominated by political noise, inflation surprises and shifting central bank signals, global markets are closing out 2025...

From artificial to sustainable intelligence: The global energy challenge

by Velika Talyarkhan
December 1, 2025

The promise of AI can only be realised if the world learns to expand this technology without exceeding the limits...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

VIEW ALL
Promoted Content

Why U.S. middle market private credit is a powerful income solution for Australian institutional investors

In today’s investment landscape, middle market direct lending, a key segment of private credit, has emerged as an attractive option...

by Tim Warrick
December 2, 2025
Promoted Content

Is Your SMSF Missing Out on the Crypto Boom?

Digital assets are the fastest-growing investment in SMSFs. Swyftx's expert team helps you securely and compliantly add crypto to your...

by Swyftx
December 2, 2025
Promoted Content

Global dividends reach US$519 billion, what’s behind the rise?

Global dividends surged to a record US$518.7 billion in Q3 2025, up 6.2% year-on-year, with financials leading the way. The...

by Capital Group
November 18, 2025
Promoted Content

Why smaller can be smarter in private credit

Over the past 15 years, middle market direct lending has grown into one of the most dynamic areas of alternative...

by Tim Warrick, Managing Director of Principal Alternative Credit, Principal Asset Management
November 14, 2025

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

Latest Podcast

Podcast

Relative Return Insider: MYEFO, US data and a 2025 wrap up

by Staff Writer
December 18, 2025
After more than two decades, InvestorDaily continues to be an institution that connects and influences Australia’s financial services sector. This influential and integrated media brand connects with leading financial services professionals within superannuation, funds management, financial planning and intermediary distribution through a range of channels, including digital, social, research, broadcast, webcast and events.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Us

  • About
  • Advertise
  • Contact
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • Markets
  • Appointments
  • Regulation
  • Super
  • Mergers & Acquisitions
  • Tech
  • Promoted Content
  • Analysis

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
  • News
  • Markets
  • Regulation
  • Super
  • M&A
  • Tech
  • Appointments
  • Podcast
  • Webcasts
  • Promoted Content
  • Events
  • About
  • Advertise
  • Contact Us

© 2025 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited