A Coalition government would lean on banks to lend to creditworthy businesses in fossil fuels, forestry and agriculture after Opposition Leader Peter Dutton attacked “woke” bankers for rejecting loans on environmental grounds.
Coalition sources not authorised to speak publicly said a new policy nearing finalisation would seek to rein in the rise of banks rejecting loan applications from companies in sectors that contravene their environmental, social and governance (ESG) commitments.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
