LETTERS TO THE EDITOR: Inquiry into common sense needed
LETTERS TO THE EDITOR
Government inquiry into common sense
More and more banks and insurance companies are moving away from investments in fossil fuels, especially coal, due to climate change impacts.
In fact, all four major Australian banks have signalled they will align their portfolios to a target of net zero emissions by 2050, with most aiming to cease lending to thermal coal companies by 2030.
This is a commonsense move based on economics … banks and insurance companies don’t like losing money.
But not everyone seems to share the same common sense.
The financial institution’s moves have prompted a backlash from a number of Federal MPs
Just before Christmas, the treasurer, Josh Frydenberg, signed up to a plan put forward by Liberal National MP George Christensen to launch an inquiry to grill financial regulators and banks over plans to pull back on lending or insuring mining projects because of climate change.
It is hard to believe that as the financial world moves away from fossil fuels like coal, we have we politicians like Josh Frydenberg, George Christensen, Matt Canavan and many others still promoting new coal mines and even new coal-fired power stations.
Can you imagine anyone actually building a new coal-fired power station at the same time as Australia’s newest coal-fired power station, Bluewaters Power Plant in Western Australia, has been deemed worthless by its owners, who have now written off their investment.
Yes, we need an inquiry, not into why the banks won’t support coal projects, but into why many of our politicians seemed to have lost their common sense.
Tony Fontes, Airlie Beach
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SMS TO THE EDITOR
FG. America with a new record with the virus on Wednesday, 53,000 new cases in one day. This comes after Greg Norman talked about how he was feeling with the virus. He stated that Trump had handled the virus really well. I would hate to see it if he hadn’t handled it well. (Tongue in cheek). Really Greg???
TD. How dangerous is the Rockhampton Yeppoon Road. Today I witnessed a vehicle lose control and spin across into the oncoming traffic lane all caused from the water laying where the tyres have worn gutters into the road surface and filling with rain water. That road is so busy and it’s like one continuous line of traffic every time I travel on that road. If we had a four lane divided road this would reduce the risk of head on accidents. I thought after that fatal accident early 2019 it was going to be a priority to have the road works under way urgently, that appears to be all talk. I am sure more accidents could be avoided by a new four lane divided road.
TOM, KOONGAL. Does anyone know any idea why Queensland Health use a private number when they try and contact someone? I don’t know how many calls I have missed because of this reason.