Adopt Net-Zero Goal or See Debt Costs Spiral, Australia Warns

摘要

A failure to respond to climate change will lead sovereign debt costs to spiral, according to Australian government planners.Officials forecast the country’s cost of capital would increase by 100 basis points in an adverse climate-change scenario without its strategy to reach a net-zero emissions target, theywrote in an analysis paper published this month. If Australia was the only developed country without such a goal, the extra cost could jump as much as 300 basis points, they said.