Learn more

Australia’s largest lender has announced it will stop financing fossil fuel companies that don’t comply with the Paris Agreement’s climate goals by the end of 2024. The Commonwealth Bank’s (CBA) move is unusual among other rivals, who have yet to stop supporting coal, oil and gas businesses. In a new report, CBA confirmed that clients who fail to meet an emissions pathway consistent with keeping global temperature increases to the “well below 2C goal of the Paris agreement” would not receive “new corporate or trade finance, or bond facilitation with a maturity beyond 31 December 2024”. The ban…

cuu