Top Aussie banks slow lending to carbon-intensive projects

National Australia Bank, the country's top business lender, said on Wednesday (Aug 14) it will not finance new-to-bank thermal coal mining customers or new thermal coal mining projects. – Reuters

CANBERRA: Leading Australian banks are stepping up efforts to reduce their carbon footprint and align with global climate goals by slowing lending to carbon-intensive projects.

The country's biggest lender, Commonwealth Bank of Australia, plans to reduce emissions associated with its loans or investments to zero by 2030 for thermal coal mining customers, it said on Wednesday (Aug 14).