From the AFR:
Westpac Bank will find it hard to justify lending to new fossil fuel projects after it commits on Friday to running its business to support an economy that limits global warming to below 2 degrees.
The new pledge will take Westpac well beyond the “support” offered by the three other big Australian banks for the global 2 degrees target, currently being debated in climate talks in Paris.
Instead, sources say, the bank will use its annual general meeting to make a formal commitment to “operating both directly and indirectly in a manner consistent with supporting an economy that limits global warming to below 2 degrees”.
