NEWS UPDATE: Economic crisis fails to shake climate concerns
The economic crisis has not dampened the desire for government action on climate change, according to global research results released by the HSBC Climate Partnership.
HSBC’s 2008 Climate Confidence Monitor surveyed 12,000 consumers across 12 countries on their attitudes towards climate change, with nearly half surveyed in Australia ranking climate change as a greater concern than the global economy, despite the turmoil in financial markets.
This sentiment was mirrored across the globe, with 43 per cent of people worldwide rating climate change as a more pressing issue.
In a clear call for a resolution on the debate over emission targets, four out of five Australians believe Australia ought to reduce its emissions in order to allow less developed economies to grow.
More broadly, the majority of Australians believe richer and developed countries and those with the highest per person carbon emissions have the greatest responsibility to meet future CO2 emission reductions.
As the global community prepares to gather in Poland for the United Nations Climate Change conference, consumers want governments to focus more on direct action.
In Australia, twice as many people said the Government should invest in renewable energy than participate in international negotiations on climate change.
HSBC said the Australian findings come amid global consumer reluctance to take more personal responsibility for climate change. Individuals’ willingness to make further changes to purchasing decisions or lifestyles is falling; 40 per cent of Australians said they are prepared to spend extra time to help reduce climate change but less than 20 per cent are prepared to spend extra money.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
