Business leaders have described the unfolding bushfire crisis as a "Port Arthur moment", urging the Morrison government to adopt a co-ordinated national strategy to confront climate change and aggressively reduce carbon emissions.

Prime Minister Scott Morrison this week signalled his government would take stronger action on climate change and support new renewable technologies, although he ruled out lifting emissions targets and introducing a "tax" on carbon. But the mooted policy shift has not quelled concerns within the business community.

The politics of climate change are again sharply back in focus. Credit:Getty

"I hope the tragedy of the past few months is our generation’s Port Arthur moment," Paul Bassat, a prominent investor and co-founder of employment website SEEK said, referring to the 1996 massacre that prompted the Howard government to drastically tighten gun laws. "The government and all Australians must take much more aggressive measures to reduce emissions," he said.

"For those that are sceptical, the simple question I ask is: 'What if you are wrong? Are you prepared to gamble the planet on your non-scientific hunch?'”