Westpac to withdraw support for thermal coalmining after 2030
by Adam Morton Environment editor with AAP from on (#530AD)
Bank says climate change is a financial risk and addressing use of fossil fuels will create opportunities
Westpac has promised to stop supporting thermal coalmining, joining other major financial institutions in promising it will not back the fossil fuel industry through investments or loans beyond 2030.
It leaves ANZ as the only big Australian bank not to have pledged to get out of thermal coal, the dirtiest fuel used in mass electricity generation.
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