Commonwealth Bank says its lending for coal will continue to decline

Analysts say a test of the bank's withdrawal from coal will come when Adani's Abbot Point terminal comes up for refinancingThe Commonwealth Bank has told its shareholders to expect its support of the coal industry to decline as it helps finance the transition to a low-carbon economy, indicating the bank is unlikely to lend to new large coal projects.Ahead of its AGM on Thursday, the bank posted the speech of its chairwoman, Catherine Livingstone, to the ASX. In it she said climate change poses both a business risk and a responsibility for the bank. Continue reading...