Westpac takes 'small first step' towards oil and gas divestment
3 May 2021 Westpac has told oil and gas producers it will no longer accept them as new customers unless they have clear, publicly-documented strategies to align their activities with the Paris climate goals. It follows similar announcement by the Commonwealth Bank of Australia, and signals the banking and finance industry is now turning its attention away from thermal coal – which most of the big banks have already said they will stop funding – to two other main causes of global warming. Westpac said its decision, which appeared with no fanfare on page 52 of its half-year results on Monda...
Source: reneweconomy.com.au