Macquarie eyes coal exit by 2024 as bank ramps up green investment plans
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Credit: Macquarie
Macquarie, Asian Development Bank, and Church of Scotland all strengthen their restrictions on fossil fuel investments
The shift away from fossil fuels among major financial firms and institutions worldwide continues to gain momentum, with Macquarie, the Asian Development Bank, and the Church of Scotland all strengthening their investment policies governing coal, oil and gas assets today.
As Macquarie today unveiled record full year profits of over AUS $3bn for 2020/21, the Australian banking giant also announced several tweaks to its climate policies, including plans to accelerate its push into green financing and exit coal altogether by 2024.