'The writing's on the wall': Australia's largest mortgage lender sets the tone after ditching climate culprits
www.abc.net.au
Australia's biggest bank is blacklisting fossil fuel companies that can't show genuine efforts to reduce emissions, putting pressure on other finance institutions to follow suit.
  • In short: Australia’s largest mortgage lender [CBA] is no longer offering money to fossil fuel companies that are not aligned with the Paris Agreement.
  • The bank announced the new direction in its latest climate report, published on the same day it posted close to $10 billion in full-year net profit.
  • What’s next? The spotlight is now on the other big banks with a finance deal of about $750 million for oil and gas giant Santos on the table.