Australia doesn't need Adani's Carmichael coalmine, Westpac chief says

Defending decision not to finance mine, Brian Hartzer says coal needed for economy to 2050 can be met by existing mines

The Adani Carmichael coalmine is not needed to support the economy, the Westpac chief executive has said in defence of his bank's decision not to finance the mine.

On Radio National on Tuesday, Brian Hartzer said Westpac's decision to set a climate policy, which in effect rules out financing the Adani Carmichael coalmine, was based on its acceptance that climate change should be limited to 2C by 2050.