Letters to the Editor
Banks should face penalties for restricting loans under ESG
Readers’ letters on who banks should lend to, election promises, the ESG pushback, Star Entertainment’s bid for tax relief and Taiwan.
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Reading about the Coalition’s proposed loan regime amid ESG pushback (“Coalition to lean on ‘woke’ banks”) brings to light an important issue: whether banks should face penalties for restricting loans to anti-green industries under the guise of ESG principles.
The answer is clear: they should. Banks that refuse to lend to creditworthy businesses in vital sectors, regardless of their environmental footprint, should face levies to subsidise lenders who step up – or risk losing their banking licences.
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