1
From:
LOWE, Phil
Sent:
Friday, 7 October 2022 4:40 PM
To:
Cc:
@TREASURY.GOV.AU
Subject:
Letter to the Treasurer - The $5 banknote design [SEC=OFFICIAL]
Attachments:
Letter to the Treasurer - The $5 banknote design.pdf
Dear Treasurer
Following our discussion last week, please see attached a letter regarding the $5 banknote design.
Thank you
Phil
Philip Lowe | Governor
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000 Australia
w: www.rba.gov.au
1
2
From:
Chalmers
@TREASURY.GOV.AU>
Sent:
Friday, 28 October 2022 4:56 PM
To:
LOWE, Phil
Cc:
Chalmers
DICKMAN, Anthony
Subject:
Letter from the Treasurer [SEC=OFFICIAL]
Attachments:
Letter from the Treasurer.pdf
⚠ EXTERNAL EMAIL: Do not click any links or open any attachments unless you trust the sender and know the
content is safe.
OFFICIAL
Good afternoon,
Please find attached a letter from the Treasurer on the 2022 Report to Government on leverage and risk in
the superannuation system.
Kind Regards,
Office of the Hon Jim Chalmers MP, Treasurer
P
M
E
@treasury.gov.au
Parliament House, Canberra, ACT 2600
OFFICIAL
From: LOWE, Phil
Sent: Friday, 30 September 2022 3:40 PM
To: Jim Chalmers Public
Cc:
@TREASURY.GOV.AU>; Byres, Wayne
Longo, Joseph
; Jordan,
Chris
<xxxxx.xxxxxx@xxx.xxx.xx>; Kennedy, Steven
CFR Secretariat
@rba.gov.au>; Assistant
Treasurer
Subject: 2022 CFR Report to Government on leverage and risk in the superannuation system
[SEC=OFFICIAL]
Dear Treasurer
Please find attached the Council of Financial Regulators’ report to the Government on leverage and risk in
the superannuation system.
Thank you
Philip
1
Philip Lowe | Governor
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000 Australia
w: www.rba.gov.au
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2
THE HON JIM CHALMERS MP
TREASURER
Ref: MS22-002079
Friday, 28 October 2022
Dr Philip Lowe
Governor
Reserve Bank of Australia
GPO Box 3947
SYDNEY NSW 2001
Dear Governor
Thank you for your letter of 30 September 2022, concerning the 2022 Council of Financial Regulators (CFR)
Report to Government on leverage and risk in the superannuation system.
I thank the CFR and the Australian Taxation Office for their work in preparing this report.
I confirm that I have no objections to you publishing the report on the CFR website.
I have copied this letter to the Assistant Treasurer and Minister for Financial Services.
Yours sincerely
The Hon Jim Chalmers MP
CC: The Hon Stephen Jones MP, Assistant Treasurer and Minister for Financial Services
Parliament House Canberra ACT 2600 Australia
Telephone:
3
From:
Chalmers
Sent:
Wednesday, 7 December 2022 3:42 PM
To:
LOWE, Phil
Cc:
External – LONSDALE, John; Longo, Joseph (ASIC
); Chalmers
External - KENNEDY, Steven
Subject:
Letter from the Treasurer - CFR [SEC=OFFICIAL]
Attachments:
221207 - Letter from the Treasurer - Council of Financial Regulators.pdf
Follow Up Flag:
Follow up
Flag Status:
Completed
⚠ EXTERNAL EMAIL: Do not click any links or open any attachments unless you trust the sender and know the
content is safe.
OFFICIAL
Good afternoon
Please see attached a letter from the Treasurer to the Council of Financial Regulators regarding Australia’s response
to the financial and economic implications of climate change.
Kind regards,
Office of the Hon Jim Chalmers MP, Treasurer
P
M
E
@treasury.gov.au
Parliament House, Canberra, ACT 2600
The Treasury acknowledges the traditional owners of country throughout Australia, and their continuing connection to land,
water and community. We pay our respects to them and their cultures and to elders both past and present.
OFFICIAL
Please Note: The information contained in this e-mail message and any attached files may be confidential
information and may also be the subject of legal professional privilege. If you are not the intended
recipient, any use, disclosure or copying of this e-mail is unauthorised. If you have received this e-mail by
error please notify the sender immediately by reply e-mail and delete all copies of this transmission
together with any attachments.
1
THE HON JIM CHALMERS MP
TREASURER
Ref: MS22-002672
7 December 2022
Dr Philip Lowe
Governor
Reserve Bank of Australia
GPO Box 3947
SYDNEY NSW 2001
Dear Governor
I am writing to you in your role as Chair of the Council of Financial Regulators (CFR) regarding Australia’s
response to the financial and economic implications of climate change.
The risks and opportunities associated with climate change have significant financial implications. Physical
and transition risks must be managed by financial institutions, and the investment required to reduce our
emissions needs to be funded through the financial system.
Consistent with their mandates, CFR agencies have proactively sought to understand and communicate the
significance of climate-related risks in Australia’s financial system. I wish to thank the CFR for its principled
leadership on this issue over recent years, including through the work of the CFR’s Climate Working Group
and the significant steps taken by individual agencies.
The Australian Government has now stepped up and prioritised significant action on climate change. As this
takes place, the CFR will continue to play a key role in monitoring risks, coordinating regulatory responses
and ensuring Australia’s financial system is well positioned to support the transitions ahead.
I will soon announce that the Government will develop an ambitious sustainable finance agenda which builds
on, and incorporates, the Government’s commitment to implement climate disclosure reforms. A coordinated
strategy will aim to improve transparency, deepen Australia’s green and sustainable finance markets, and
seize the opportunities presented by global momentum in sustainable finance. Treasury will lead the
development of the strategy, providing recommendations to the Government next year.
Consistent with the CFR’s objective to support effective and efficient regulation and to promote financial
stability, I seek the Council’s support as we develop and implement the Government’s sustainable finance
agenda. In particular, I seek the support of CFR agencies to:
•
Implement standardised, internationally-aligned climate-related financial disclosure requirements for
large businesses and financial institutions, and encourage capability development by Australian entities
to respond to these requirements;
•
Develop an Australian sustainable finance taxonomy in which the Government takes a leading role, in
collaboration with industry;
•
Develop coordinated strategies to prevent greenwashing in the corporate sector and financial markets;
and
•
Strengthen Australia’s international engagement on matters related to climate finance.
Parliament House Canberra ACT 2600 Australia
Telephone:
2
Treasury’s initial recommendations will be informed by consultation across the public service, financial
regulators and industry, before a wider period of consultation on a draft strategy, once it has been considered
by Government. I note that other CFR agencies are already engaging with Treasury as this agenda takes
shape and ask for continued input and support in this work.
Yours sincerely
The Hon Jim Chalmers MP
CC: John Lonsdale, Chair, Australian Prudential Regulation Authority
Joseph Longo, Chair, Australian Securities and Investments Commission
Steven Kennedy, Secretary, Department of the Treasury
4
From: Chalmers DLO
Sent: Friday, 16 December 2022 5:20 PM
To: Governor
Cc: Chalmers DLO
Subject: Letter from the Treasurer ‐ Australian Banknote [SEC=OFFICIAL]
⚠ EXTERNAL EMAIL: Do not click any links or open any attachments unless you trust the sender and know the
content is safe.
OFFICIAL
Good afternoon,
Please find attached correspondence from the Treasurer to the Governor of the Reserve Bank, regarding the design
of Australia’s $5 banknote.
Kind Regards,
Office of the Hon Jim Chalmers MP, Treasurer
P
M
E
@treasury.gov.au
Parliament House, Canberra, ACT 2600
OFFICIAL
Please Note: The information contained in this e-mail message and any attached files may be
confidential information and may also be the subject of legal professional privilege. If you are not
the intended recipient, any use, disclosure or copying of this e-mail is unauthorised. If you have
received this e-mail by error please notify the sender immediately by reply e-mail and delete all
copies of this transmission together with any attachments.
1
THE HON JIM CHALMERS MP
TREASURER
Friday, 16 December 2022
Dr Philip Lowe
Governor
Reserve Bank of Australia
65 Martin Place
SYDNEY NSW 2000
Dear Governor
Thank you for your correspondence and the opportunity to provide the Australian Government’s view on the
design of Australia’s $5 banknote.
Your correspondence indicated that the Bank is considering replacing the portrait of Queen Elizabeth II on
Australia’s $5 banknote with either King Charles III or with a new design that honours the culture and
history of First Australians.
Of these two options presented by the Bank, the Government would be comfortable with a new design that
honours the culture and history of First Australians, assuming a proper process for inclusive consultation is
undertaken.
I have copied this letter to the Prime Minister, the Minister for Indigenous Australians, the Assistant Minister
for Indigenous Australians, the Assistant Minister for the Republic and Senator Dodson who is currently
serving as Special Envoy for Reconciliation and the Implementation of the Uluru Statement from the Heart.
Thank you again for your letter.
Yours sincerely
The Hon Jim Chalmers MP
CC: Prime Minister, Minister for Indigenous Australians, Assistant Minister for Indigenous Australians,
Assistant Minister for the Republic and Senator Dodson, current Special Envoy for Reconciliation and
the Implementation of the Uluru Statement from the Heart.
Parliament House Canberra ACT 2600 Australia
Telephone:
Document Outline
