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The Guardian

Banks boosted new lending to fossil fuel projects last year, figures show

Banks boosted new lending to fossil fuel projects last year,



Activist group Market Forces says its analysis suggests a disconnect between ANZ and Westpac’s statements on climate and their investment decisionsTwo of Australia’s big four banks increased their new lending to fossil fuel projects last year despite having made public commitments to support the goals of the Paris climate agreement, analysis of their financial dealings shows.The investor action group Market Forces says both ANZ and Westpac poured significant new money into fossil fuel projects during 2018-19 in a way that indicated the banks’ lofty climate goals were not being factored into individual investment decisions. Continue reading…



Source link : https://www.theguardian.com/australia-news/2019/nov/06/banks-boosted-new-lending-to-fossil-fuel-projects-last-year-figures-show

Author : Ben Smee

Publish date : 2019-11-05 23:00:05

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Tags : The Guardian

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