A significant chunk of Australia’s financial services industry has a problem.
On the one hand, many of the world’s banks and insurers have refused to finance and insure fossil fuels industries because of their inherently conflicted ESG principles.
Yet, on the other hand, their shareholders are missing out on a huge opportunity to create value for themselves, Australia and the rest of the world.
There has never been a more important time to back Australia’s mining and manufacturing industries, and the lead indicators in Europe is all the evidence we need.
Arising from the blindside cash grab being perpetrated by the Queensland Government against the coal industry in Queensland, there may be some potential concessions for producers on their insurance programs.
It’s a big call, but we’re sure it’s true.
The outlook for the Australian mining industry has never been stronger, and the numbers are clear.
Over the last 2 years, CRE has seen several insurance participants promoting and lobbying for a captive or mutual solution for the coal sector to help reduce costs and ease coverage acceptance.
So what are these silver bullets for the coal industry and how could they work?