Climate change: Australia's big banks urged to reject new loans for coal projects
by Michael Slezak from Environment | The Guardian on (#1E3AV)
Exclusive: Market Forces says halt to refinancing existing loans would also test banks' support for 2C warming target
Australia's big four banks could act on their stated ambition to help achieve a 2C warming target simply by giving no new loans to coal projects, analysis by financial activists Market Forces reveals.
Such a move - including a halt to refinancing existing loans - would virtually empty the banks' loan book of the $8bn they are lending to coal in just five years.
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