Absa publishes coal-funding policy
The bank is responding to calls for greater disclosure around lending to the fossil-fuels industry
16 April 2020 - 17:14
Absa, one of SA’s largest banks, has published its policy on funding coal as banks around the world continue to come under pressure to disclose more information about their exposure to the fossil-fuel industry.
The banking group said on Thursday that burning fossil fuels, such as coal, has been found to be the predominant cause of global warming and climate change and as a result, “Absa will not fund new, coal-fired electricity generation unless under extenuating circumstances that will be governed under strict guidelines”...
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