Big four have pledged to align business practices with Paris agreement but loophole allows them to fund sector, activist group says
Get our morning and afternoon news emails, free app or daily news podcast
Australia’s big banks have loaned more than $13bn for fossil fuel projects over the past two years even as they publicly advocate for emissions reductions, a new report suggests.
Analysis by environmental activist group Market Forces has found that while Australia’s major banks largely avoid providing direct project finance to new coal, oil and gas projects, they do fund corporate entities that develop them.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup
About Author
More Stories
Baby mammoth in Russia is the ‘best-preserved’ ever found
Kremlin denies reports Asma al-Assad is seeking divorce and a return to London
Dozens of MPs in Justin Trudeau’s Liberal party agree prime minister should resign