Climate change on a 'slow simmer' in bank lending decisions

By Jenny Ruth | Tue, 14 Jan 2020


The three major Australian banks, which own three of New Zealand's largest banks, undoubtedly had much more pressing scandals to address at their annual meetings last month, but the role they could play in mitigating climate change promises to be an issue that won't go away.Westpac's more than six-hour meeting in Sydney set the table for the sector with chair Lindsay Maxsted having to face shareholder ire on learning that their bank had processed more than 23 million transactions in breach of anti-money laundering and counter terrorism finance...