The banks are here to help with the multi-trillion dollar transition to carbon neutrality by 2050!
Commonwealth Bank head of institutional banking and markets Andrew Hinchliff said there was a wall of funds looking to finance the transition, not just because it was the moral and ethical thing to do but also for the business opportunity.
“There’s a whole lot of problems associated with why we’re here at zero interest rates, but one of the beautiful things is that there’s a lot of very, very cheap money in the system so the world can more readily afford the capital expenditure for the necessary investment,” Mr Hinchliff told The Weekend Australian.
Borrow a wall of money at near zero interest rates, invest in loss-making green schemes, and then the interest rates go up. Lets see who are the winners and losers in that game!