Business
NAB’s Port of Newcastle funding tied to green sustainability goals – ABC News
NAB will lend money to the Port of Newcastle, but it will need to reduce emissions and screen suppliers for modern slavery issues.
National Australia Bank has agreed to finance the world’s largest coal export terminal so long as it meets a new set of social and environmental goals.
Key points:
- Green groups say a new financing deal for the Port of Newcastle is a step in the right direction
- $50m has been earmarked for port diversification amid the global shift away from coal
- Screening for poor working conditions are also built into the agreement
Last year ANZ withdrew its funding for the Port of Newcastle under its emissions action…
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