Bank rules out funding ‘conventional coal-fired power plants’ that do not use proven technologies to significantly reduce emissions

ANZ bank has pledged not to finance traditional coalmining projects and to provide at least $10bn in funding for renewable energy, reforestation and energy efficiency.

In the most significant steps yet by one of Australia’s big four banks on climate change, ANZ said its new policies would help a “gradual and orderly transition” from fossil fuels to clean energy such as solar and wind.

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Source: Guardian Environment