New Climate Change Authority Chair appointed to lead Australia’s energy transition

The federal government has appointed Matt Kean as the new Chair of the Climate Change Authority (CCA).

The federal government has appointed Matt Kean as the new Chair of the Climate Change Authority (CCA), succeeding Grant King. The CCA, an independent statutory body, provides expert advice to the federal government on climate change policy, playing a pivotal role in navigating the energy transition for households and businesses. 

Prime Minister Anthony Albanese highlighted the significance of this appointment, noting that the energy transition presents a significant opportunity for job creation, economic growth, and lower power prices.  

"[The government’s] approach is focused on reducing emissions while creating maximum benefits for Australian families and households. We are proud to appoint Mr. Kean today for this important role," said the Prime Minister. 

Matt Kean was the former NSW Treasurer and Minister for Energy and Environment. The federal Minister for Climate Change and Energy Chris Bowen praised Kean’s appointment, stating, "Our ambitious but achievable policies are ensuring our approach is credible and delivers benefits for all Australians. The Climate Change Authority is critical to this agenda." 

The federal government’s policy approach regarding climate change is important for brokers and insurers to keep in mind, especially as mandatory climate-related disclosures for relevant entities are expected to come into effect in the near future, to be overseen by ASIC. 

The Insurance Council of Australia (ICA) has released data highlighting that a series of extreme weather incidents have heavily impacted insurers since Christmas. Over the summer, three significant weather events have been declared by insurers, resulting in a cumulative $1.6 billion in insured damages across Queensland, New South Wales, and Victoria.    

Climate change also remains an important issue for communities, with new research by NRMA Insurance highlighting that 4 in 5 Australians feel anxious about the impact of extreme weather in their lives. This concern is even more pronounced (86%) among people who live in areas that are at high-risk of being impacted by weather events.  

These findings are a reminder of the significant role that brokers continue to play in making a real difference in people’s lives, helping their clients and communities get back on their feet after a major weather event such as bushfires or floods.