Westpac
#9 in Asia-Pacific for offshore oil and gas.
Sorry, we don't know enough about Westpac yet.
Westpac is taking steps to decarbonize its portfolio. It still lends to the fossil fuel and mining sectors but it lends a significantly larger portion to renewable energy projects.
The main reason for the bad rating is because, according to the Banking on Climate Chaos report, Westpac continues to finance fossil fuel expansion (i.e., new fossil fuel infrastructure).
Last reviewed:
Westpac is reporting greenhouse gas emissions enabled by its lending in line with the Partnership for Carbon Accounting Financials (PCAF) standard.
The bank has set clear reduction targets and offers green mortgage-related lending products.
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