Banks and investors no longer automatically accept proponent and government assurances on environmental risk, and are now increasingly doing their own risk analysis on finance for major projects, according to the Investor Group on Climate Change.
Activist groups fighting Whitehaven's Maules Creek coal mine are targeting an international investor and have urged a society representing environmental consultants to investigate whether a member has breached its code of conduct.
Assisted by senior regulators, a new association of bankers and investors plans to develop finance industry guidelines to ensure lenders properly scrutinise the environmental credentials of projects seeking funding.
The ACF will run two more investor briefing on the James Price Point project next week, reflecting the investment community's growing interest in what environment groups have to say, according to the NGO's economic adviser Simon O'Connor.