The catch to NAB financing the world’s largest coal export terminal

Published

3 years ago

May 4, 2021

National Australia Bank has agreed to finance the world’s largest coal export terminal …but it must meet a new set of environmental goals.

Last year ANZ withdrew its funding for the Port of Newcastle under its emissions action plan.

There were fears the port could become a burden as the world moves away from fossil fuels.

NAB has stepped in with “sustainability linked” loans … now to the value of $565 million.

But the catch is… the port must reduce its emissions that come from its operations and electricity.

Social goals must be met too., NAB wants the Port to screen suppliers for modern slavery risks and take action.

Related Topics:AUS climate COAL ENVIRONMENT Featured NAB

Up Next

Why Malaysia Airlines will retire its fleet of A380’s

Don't Miss

Tech firms court battle could turn ‘epically’ rotten

Brittany Coles

Click to comment

Why the meme-stock frenzy is unlikely to repeat

Published

4 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

4 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

5 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending