3 Reasons Why Westpac is Wrong on Coal

Written by:
11 May 2017
3 Reasons Why Westpac is Wrong on Coal - Featured image

Westpac’s new Climate Change Action Plan limits new thermal coal lending to existing basins and to projects with an energy content of at least 6,300kCal/kg23.

If adopted by all financial institutions and applied to current projects, most of Australia’s current coal-fired power generators and energy coal export mines would need to bank overseas.

Rather than setting artificial benchmarks that would damage the Australian economy, financial institutions and policy makers should remain open to technological developments that will allow the more efficient generation of coal-fired electricity.

3 Reasons Why Westpac is Wrong on Coal

Download the full report here

Support the IPA

If you liked what you read, consider supporting the IPA. We are entirely funded by individual supporters like you. You can become an IPA member and/or make a tax-deductible donation.