Business
Macquarie to exit coal by 2024, hikes dividend – Sydney Morning Herald
The investment banking giant has declared it will fully exit coal within three years and will remain committed to the oil and gas sector.
Macquarie Group will exit coal by 2024 and remain in oil and gas under a new climate policy to lower emissions and use its billion-dollar clout to pressure heavy emitters into accelerating plans to reach net zero targets.
The new policy came as the group reported record yearly profits and includes reaching net zero emissions across its operations by 2025. Macquarie said it was developing tools to accurately measure and track emissions and would encourage its companies to reach net zero by 2040.
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