The FSC and the accidental oracle

Outsider has concluded that those organising this year’s Financial Services Council Leaders Summit have taken the view that diversity can trump relevance when it is coupled with notoriety.

So while your venerable correspondent can understand the value of having former Foreign Minister,  Julie (J-Bish) Bishop address the Leader’s Forum because of her understanding of the value of Australia’s trade in financial services, he is not entirely sure what value will be delivered by former coal miner turned One Nation Senator and climate change denier, Senator Malcolm Roberts.

Indeed, Outsider was even more confused when he weighed Senator Roberts’ views about climate change with the fact that the Australian Prudential Regulation Authority has decided to increase its scrutiny of how banks, insurers and superannuation trustees are managing the risk of climate change on their business.

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If Outsider’s reading of Senator Roberts’ statements on climate change is accurate then neither the regulator nor those it regulates have got anything to worry about.

In any case, the title of Senator Roberts’ address will be Financial Services in the Morrison Government – what are the implications? Perhaps he will surprise everyone. 

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