The ANZ Bank (ANZ) will implement the most ambitious net-zero emission initiative among the four major banks, and will use climate change as a condition for loans to increase pressure on farmers, construction companies and a series of companies to require them to formulate low-carbon emissions by next year Transition plan.
The release of the bank’s ten-year strategy coincided with its annual performance report. Under the ten-year strategy, ANZ stated that it would “stay away from cooperation with customers without clear and public transition plans”. The bank’s increased commitment to climate change and the release of target dates are considered a strategic move to match its rivals National Bank (NAB) and Westpac Bank (Westpac) and respond to the requirements of major investors and shareholders.
In the past two years, large companies including BHP Billiton (BHP), Qantas (Qantas), National Bank, Westpac Bank and Commonwealth Bank (CBA), as well as the Minerals Council of Australia (Minerals Council of Australia), Australian oil production The Exploration Association (APPEA), the National Farmers Federation (National Farmers Federation) and the Business Council of Australia (Business Council of Australia) have all developed important climate change strategies.
ANZ Bank will increase loans for projects that reduce carbon energy, “by 2030 only by directly funding low-carbon natural gas and renewable energy projects to further reduce the carbon intensity of our power generation loan portfolio.” It will also “no longer provide funds for any new commercial customers with substantial thermal coal risk exposure” and will communicate with existing customers whose thermal coal risk exceeds 50% to support existing diversification plans.
https://www.abc.net.au/radio/newsradio/anz-bank-looks-to-get-tough-on-climate-change/12825518#:~:text=ANZ%20Bank%20has%20announced%20two ,per%20cent%20to%20%243.58%20billion.