The Melbourne Newsroom

The issue of risk management was a vital topic missed by G20 representatives during their analysis of the Global Financial Crisis (GFC) according to Senior Lecturer in Finance at the Faculty of Economics and Commerce Dr Les Coleman.

“The G20 has done a lot of work looking at ways of avoiding another financial crisis, but they are tackling things like capping executive salaries and not addressing what caused the GFC – and that was risk,” he says.

Improvements in risk management processes can and should be made to avert the next bushfire catastrophe, says Dr Les Coleman, in the wake of the release of the bushfires Royal Commission interim report.  "It comes back to looking at the risks, putting in place mechanisms to try and reduce those risks ahead of time, and recognising that when these extreme events start to unfold, its really beyond anyone's physical resources to handle every part of it."

The Carbon Pollution Reduction Scheme (CPRS) is not the most efficient way to reduce carbon emissions, says Senior Lecturer in Finance Dr Les Coleman.

Dr Coleman says that while there have been extensive discussions about the pros and cons of the CPRS, alternatives to the scheme have not been adequately considered and people with specialist knowledge in the area of carbon reduction have not been adequately consulted.