The Insurance Council of Australia (ICA) will “monitor” the Federal Government’s proposed business roundtable on climate change.

“We are certainly monitoring all developments in relation to climate change and how that will impact the general insurance industry,” an ICA spokesman told insuranceNEWS.com.au.

“But we are more focused on the other side of the coin and that is adaptation and resilience.”

The Government has proposed two roundtables that will include representatives of the business community, environment and non-government organisations.

Topics to be discussed at these roundtables will include the introduction of a carbon price into the economy and might also cover a range of other climate change measures.

The business roundtable will also discuss how the Government’s climate change policies will affect other economic policies, including tax reform.  

It will be co-chaired by the Treasurer Wayne Swan and Climate Change Minister Greg Combet.

The environment and non-governmental organisation roundtable will also be co-chaired by Mr Combet and the Sustainability Minister Tony Burke.

Composition of the two roundtables will be announced shortly after discussions with leaders of the business, union, environment and non-government sectors. The plan is for the roundtables to meet monthly.