Long way to go to stop lending for deforestation
Australian banks were slow to reduce exposure to lack of disintegration, large agricultural business players are still lending to work-half businesses.
Two years after the first edition of the Australian Protection Foundation on the financing of destructive land cleaning, a follow -up report points to a stagnant progress.
The destruction of shrubs for Grazing, real estate and other development contributes to climate change and threatens species such as endangered pink cacadu, and weakens Australia’s commitment to stop and reversed biological diversity.
ACF Corporate Responsibility Policy Analyst Audrey Van Herwaarden AAP also states that financial risks for banks.
He said that mature trees are important for territorial integrity and it is also important to protect against excessive weather conditions.
Landowners with weaker soil and less productive land are more likely to miss reimbursement and manifests as a risk of credit for the bank.
In the game, the risk of reputation was forced to pay illegal healing costs illegally.
Five major agricultural players, Anz, Westpac, Commonwealth Bank, National Australian Bank and Rabobank were linked to the cases of foresting through mortgages through land titles within 12 months of July 2023.
It is a common method to finance the bank loans through securities in the title, but the environmental group stressed that loans cannot be sure that they are used for bulldozer.
A few mortgages were given or re -published during or after the destructive dirt team, which was brought to the agenda of “situation detection or worse, serious questions about deliberate ignorance”.
Almost half of the lawsuits may have violated the laws of Federal Nature, and the environmental group had reported them to the relevant department.
“Our analysis shows that our analysis is still a long way to reduce the risks associated with the effects of banks and their dependence on nature and to capture opportunities, Van said Van Herwaarden.
NAB, a large agricultural lending, was exposed to twice as much as its peers in 100 forests from all over the country.
A spokesman said the bank’s suggestions, including the bank’s suggestions, including more to take care of the stakeholders and to invest in geo -to invest in geo -almighty vehicles.
“NAB is the biggest lending of Australia to agriculture, and we understand that it is a complex issue that requires cooperation between government, industry and landowners,” he said.
In addition to calling the banks from the credit portfolios, which is already a movement by Westpac, to eliminate the forests, the environmental group wants the government to take steps.
A national strategy is a key demand to end the forest until 2030, and also carries out long -term reforms to broken laws.
Both Commonwealth Bank and Anz drew attention to the social and environmental policies that determine how they support their customers to manage the risks of forest.
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