Business
Climate risk sees ANZ divest from Port of Newcastle, the largest thermal coal terminal in the world – ABC News
The ANZ bank has pulled nearly $1 billion funding in Port of Newcastle, interpreted as a significant rebuke of coal and its fear of shareholders’ exposure to climate…
The ANZ bank has pulled out of funding the Port of Newcastle in what is being interpreted as a significant rebuke of the coal industry and its exposure to climate risk.
Key points:
- ANZ divested from the port over concerns it could become a stranded asset
- Other investors including NAB have continued to underwrite the port to assist it in diversifying
- The NSW Government implemented laws that would restrict container traffic through Newcastle for 50 years
The port is the largest thermal coal terminal…
Continue Reading
-
General21 hours agoAustralia loses ODI series to South Africa with defeat in second game in Mackay
-
General19 hours agoEveryday AI use brings a hidden climate cost
-
Noosa News24 hours agoBoat crash in Helensvale on the Gold Coast leaves man with life-threatening burns and another one injured
-
Noosa News23 hours agoBrisbane bands unite to help bassist’s cancer fight