*especially the “big four”, whose reputations have suffered during the global financial crisis due to highly-criticised lending practices and failure to fully pass on interest rate cuts*

The author seems to lack knowledge about the role of banks!

Firstly our big four were not responsible for dubious overseas
lending practises, they came through the GFC with flying colours.

Secondly, some interest rate cuts were not passed on, due to half
of bank funding coming from overseas, at increasing rather then
decreasing cost.

Thirdly, it is the role of venture capital and not of banks to
take large risks with other peoples money. For a project to
be "bankable", some guarantees need to be in place, chasing
"what seemed like a good idea at the time", is not their role.

The stockmarket provides money for green energy ventures.
Anyone including the author, are free to risk their hard earned
savings and lose the lot, if the project goes wrong.

There are a number of green energy ventures under way in Australia.
Some have hit the rocks. Money will pour into the sector,
when it can be shown that investors won't lose their shirts
and that they actually can make a profit and a return on those
hard earned savings.

"By cutting off their funding greenhouse gas-emitting projects can be restricted and the transition to a low-carbon economy can gather momentum."
Does this mean socially responsible banks or their financial subsidiaries will not finance the purchase of motor vehicles, air conditioners and other white goods,tractors, motor mowers, jet skis,airplanes,ships(other than sailing boats)unless the manufacturers of these products can somehow show the sale of their product(s)will be accompanied by less global CO2 emissions? Given that world population is increasing it seems a rather tough request. But I guess it will provide a boost to world-wide tree planting projects and encourage more technological research.

Luckily we currently have what's called a self-correcting system:

Step 1: Banks fund green projects.
Step 2: Green projects go broke.
Step 3: Banks lose their money.
Step 4: Bank share prices drop.
Step 5: Bank shareholders withdraw their funds.
Step 6: Banks either stop funding green projects or go broke.

But under a green dictatorship, no doubt, our masters would simply print money and throw it at their well-intentioned friends and colleagues. Let us make sure that it never comes to pass.

It really is mind blowing that anyone so thick can have the qualifications necessary, & be selected to lecture at any university. Does this woman really believe all the propaganda, or is she just protecting her job, going into print, as ordered by her institution, for the AGW cause.

This type of rubish article must be getting to the self defeating stage, with the C grade trivial nonsense becoming obvious to even the most casual reader.

It's bad enough having these dumb activists, if that's what she is, lets hope the banks don't actually catch the bug.

So you either go green or not have a lifestyle by having to show that you are "saving the planet", as if we can? Banks are going to screen that you are green? Hardly, banks don't give a toss where your politics or philosophies lay, they are bankers. By the way, how do you think most of the world ended up in the predicament they find themselves; not because the bankers were "good guys". There are no good guys in banking because it is about money. If you are indeed religious, which I am not, Jesus despised money lenders! I suppose things haven't changed much

I don't know whether or not any Australian bank is allowed to discriminate and not lend to any legitimate entity based on them being carbon polluters alone?

I imagine that the learned wiggy may know though?

..

South Korea are just putting in the world's largest tidal power plant which will power 1/2 a million homes acording to AlJaZeera. Same source says the French having being doing the same since the 60's on a smaller scale.

N.Africa is becoming the home of a vast array of Solar electricity generators.

Australia has amongst other options some great geo-thermal sites.

..

All that is required to convert to renewables is a steady, cap exed over time implementation policy to legislatively cradle the new industries in and legislatively extinguish the polluters out post migration of the labour force.

Let the coal miners sell to Beijing to help with their population problem all they like, but for starters get them out of the Australian local market. <choke, cough, wheeze, gag>

That's what TurnBull should do. Sacrifice a few SilverTails on the alter of his leadership in the "National Interest."

<HaHaHa>

Costello has scarpered, the Chesher cats have gone, howard has been condemned, and Hockey knows a bad thing when he sees it.

<Snicker, Snicker>

Yes, metaphorically speaking, like the priests of old, a ritual sacrifice to the Gods of Green.

<ROFL>