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Australian major banks slash fossil fuel lending by 20%, focusing on climate transition plans.
Australia's four major banks have cut fossil fuel lending by over 20% in two years, from $43.4 billion to $34 billion.
CBA now only funds clients with strong climate transition plans, requiring remaining top carbon-intensive clients to submit compliant plans or risk losing new financing.
The bank has also hired a third-party consultant to assess these plans.
This shift reflects growing pressure from activists and a focus on environmental, social, and governance strategies.
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Los principales bancos australianos reducen en un 20% los préstamos para combustibles fósiles, centrándose en los planes de transición climática.