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flag Australian major banks slash fossil fuel lending by 20%, focusing on climate transition plans.

flag Australia's four major banks have cut fossil fuel lending by over 20% in two years, from $43.4 billion to $34 billion. flag 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. flag The bank has also hired a third-party consultant to assess these plans. flag This shift reflects growing pressure from activists and a focus on environmental, social, and governance strategies.

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