Australia’s Largest Bank Stops Funding New Oil and Gas Projects

Australia’s Largest Bank Stops Funding New Oil and Gas Projects
A man enters a branch of the Commonwealth Bank of Australia (CBA) in Melbourne, Australia, on Aug. 11, 2021. William West/AFP via Getty Images
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Australia’s largest bank will no longer fund new fossil fuel projects as it strengthens its climate change commitments.

The move is the latest blow to the oil and gas industry, which has been facing difficulties securing finance for their projects in recent years due to growing public concerns about climate change.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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