7 August 2019
Great news! Commonwealth Bank has become the first in Australia to signal an end to thermal coal exposure!
In its latest policy update, the bank has said it will:
- continue to reduce its thermal coal mining and coal-fired power generation exposures with a view to exiting the sector by 2030, subject to Australia having a secure energy platform.
- only providing banking and financing activity to new oil, gas or metallurgical coal mining projects if they are in line with the goals of the Paris Agreement.
Take a moment to recognise this important move by Commbank and call on its competitors to make their own coal exit commitments!