The Reserve Bank of Australia is warning climate-conscious global investors could decide against investing in Australia if a net zero emissions agreement is not reached.

Senior Nationals are threatening to derail Prime Minister Scott Morrison’s 2050 net zero target after it was discussed for the first time at a Cabinet meeting on Wednesday.

They’ve signalled any endorsement will be delayed unless guarantees are made that measures to tackle climate change will not damage job prospects or regional economies.

Treasurer Josh Frydenberg as well as billionaire iron ore miner ­Andrew Forrest have backed the RBA’s assessment, placing pressure on the Nationals to accept the target at a crucial party room meeting on Sunday.

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