Australian Ethical challenges Westpac over weakened climate lending rules
The super fund has said Westpac weakened key climate safeguards, allowing fossil fuel expansion despite earlier Paris-aligned lending commitments. Australian Ethical Investment has urged major bank Westpac to reinstate its Paris-aligned lending commitments after the bank weakened its approach to assessing oil and gas clients’ transition plans. The firm said Westpac’s reversal risked enabling unsustainable fossil fuel expansion and undermining years of investor pressure for...
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