One of the world's largest banks has warned international investors could bypass Australia in the future because of concerns about the country's environmental policies.
Didier Mahout, chief executive of French bank BNP Paribas' Australian operations, said global firms were increasingly conscious of their environmental reputation and could be put off by Australia's stance on climate change.
"Every responsible, leading organisation worldwide wants to be seen as an organisation that is totally aligned in terms of its values and principles," he said.
"That may put some restrictions on the ability of some international companies to operate in Australia."
He said European investors also appeared to be much more concerned than Australians about the impact of major resources projects on the Great Barrier Reef.
"Do you know where I hear most about the Great Barrier Reef and the projects in Queensland? Not in Australia, in Europe."
However, Australia still had time to improve its environmental image.
"There is no crisis, there is no urgency, just the need to become aware of that and include it in thought patterns," Mr Mahout said.
Australia's position on climate change came into focus during the G20 meeting in Brisbane 2014 when Prime Minister Tony Abbott appeared to clash with US President Barack Obama and others over the issue.
Mr Abbott's government last year abolished the unpopular carbon tax in favour of its direct action plan, which provides incentives to polluters to reduce emissions.
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