News

The Westpac Group sees placing a price on carbon as an important economic reform and an important step towards certainty, according to general manager of mortgage distribution Huw Bough, as the Gillard government’s carbon price and compensation package is unveiled. 

Speaking to MortgageMix, Bough said Westpac is conscious of the impact of climate change - not only on the organisation, but also for its customers, community and the market.

He added that Westpac has had a consistent position on climate change for over a decade.

“The Group will continue to work through the detail of the announcement and consult with our customers around what the projected impacts will be across all industry sectors,” he said.

Meanwhile the plan has not found similar sentiment with other industry commentators.

Real Estate Institute of Australia acting president Pamela Bennett criticized it for forgetting home buyers.

And Housing Industry Association chief executive Graham Wolfe predicted it would have painful and widespread repercussions.