Our statement about lending to projects in the coal and coal seam gas sectors
As a result of an article in the AFR on Friday 6 June, there has been a lot of commentary on our Bank’s exposure to companies whose core activity is the exploration, mining, manufacture or export of thermal coal or coal seam gas. So that the commentary is fully informed, we want to ensure our position is clearly articulated.
To that end, reducing our impact on the environment and helping others do the same, is a part of Bendigo and Adelaide Bank’s commitment to building sustainable and prosperous communities.
However, we understand our customers and the communities we work with require access to a variety of energy sources and fuels, and as individuals and businesses we all have a carbon footprint. Like us, many of our customers rely on fossil fuels both directly and indirectly.
In respect of our own carbon footprint we make conscious decisions to reduce and offset our impact and we help others do the same by offering green products and services. As we do not currently lend to projects in the coal and coal seam gas sectors, we are simply taking a pragmatic approach that says it makes no sense to broaden our footprint by starting to do so.
It is a work in progress for our bank and we will continue to implement positive actions to reduce our impact on the environment and help others to do the same.