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Calls grow for Westpac to reveal energy transition plan thinking

James Eyers
James EyersSenior Reporter

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Westpac will again face calls to release more detail on how it assesses high-emitting corporate borrowers’ energy transition plans, as shareholder activists prepare to reapply pressure at its annual meeting on Friday before Peter King hands the chief executive reins to Anthony Miller at the weekend.

Westpac’s lending to Santos, APA Group and JERA this year has reignited anger among activists who argue financing expansionary fossil fuels projects is incompatible with its commitments to net zero. Others want to see more detail on how the bank decides which energy miners can get financing and which can’t.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/calls-grow-for-westpac-to-reveal-energy-transition-plan-thinking-20241210-p5kx5t