Accelerate switch to renewables, phase out fossil fuel exports - NAB chair Philip Chronican urges

National Australia Bank chair Philip Chronican says the world will soon no longer want or need traditional commodities like coal and iron ore. He says a faster switch to renewables could add $435 billion to Australia's economy by 2025, but warns without action living standards could suffer. Reporter: Senior Business Correspondent Peter Ryan Featured: Philip Chronican, NAB chair