British banking giant Barclays has revised its stance on investing in fossil fuels which includes halting investment in coal mining and coal-fired power stations, but the bank has come under fire for not going far enough, with environmental organization Greenpeace comparing its lack of action with the bank’s previous stance on apartheid, saying the bank is “once again on the wrong side of history.”
The National Australia Bank, one of the country’s leading banks, announced this week that it will cease financing new thermal coal mining projects, becoming the first major bank in the country to make such a decision.
A new report investigating the climate-related risk practices of 28 of the world’s largest banks has found that, while these risks have been assigned more priority, financial institutions are not adapting fast enough to a world with a fast-changing climate.
Australia’s Clean Energy Finance Corporation has partnered with infrastructure manager Palisade to attract investment in early stage renewable energy project developments. Announced earlier this week, Australia’s Clean Energy Finance Corporation (CEFC) will partner with Palisade Investment Partners to invest $100 million in an effort to attract further investment to the tune … [continued]
