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Australia’s ANZ bank to exit coal lending business by 2030

first_imgAustralia’s ANZ bank to exit coal lending business by 2030 FacebookTwitterLinkedInEmailPrint分享Argus Media:Australian bank ANZ will exit all lending to companies with exposure to thermal coal either through extraction or power plants by 2030, as part of its new lending criteria to support the 2015 Paris climate agreement target of net-zero greenhouse gas (GHG) emissions by 2050.ANZ, which is one of four banks that dominate the banking sector in Australia, will no longer finance any firms that have more than 10pc of their total revenue from thermal coal activities, the bank said.The Melbourne-based bank will only lend to renewable projects and low-carbon gas projects by 2030 and will discuss with its customers that have more than 50pc of their revenue from thermal coal about diversification strategies by 2025. “We will cap limits to customers that do not meet this expectation and reduce our exposure over time,” ANZ said.The tightening of the lending criteria to the thermal coal industry follows ANZ’s previous stance unveiled last year of lending only to new customers that have less than 50pc of their revenue from thermal coal and not financing the construction of any new conventional coal-fired power plants. It also marks a shift from when the bank first unveiled its thermal coal lending policy in 2015, when it said it would consider financing new coal-fired power stations only if advanced technology and higher-quality thermal coal were used.ANZ was the last of Australia’s four largest banks to commit to exiting lending to thermal coal activities, with fellow Australian bank Westpac pledging to neither lend money nor invest in the thermal coal mining industry from 2030.Australia is the world’s second-largest exporter of thermal coal. The sector faces more headwinds now that Australia’s four largest banks will no longer lend for new thermal coal mine developments or expansions of existing mines. Australia’s three largest coal customers have also all committed to net-zero emissions by 2050 for Japan and South Korea and 2060 for China. These three countries took around three-quarters of Australia’s thermal coal exports in calendar 2019.[Kevin Morrison]More: Australian bank ANZ to exit all coal lending by 2030last_img read more

$1,000 to win Modified mains headline April 5-8 IMCA Frostbusters

first_imgDONNELLSON, Iowa – IMCA Modifieds run for $1,000 to win each night and there’s a $1,000 point fund for each of the four sanctioned divisions featured in April 5-8 Frostbuster specials.Opening night is Wednesday, April 5 at Lee County Speedway in Donnellson. Benton County Speed­way at Vin­ton hosts the Thursday, April 6 show. The Friday, April 7 Frostbuster is at Mar­shalltown Speedway with the Saturday, April 8 finale at Boone Speedway.All four Modified main events are qualifiers for the 2017 Fast Shafts All-Star Invitational ballot and Ken Schrader will race at both Lee County and Benton County events.IMCA Sunoco Stock Cars run for $500 to win, Karl Chevrolet Northern SportMods for $400 to win and IMCA Sunoco Hobby Stocks for $250 to win each night of Frostbuster Week.IMCA Speedway Motors Weekly Racing National, re­gional and Allstar Performance State points will be given at all four shows. Entry fees are $30 for Modifieds, $25 for Stocks and $20 for both the SportMods and Hob­bies. Pit passes are $25.Mach-1 Sport Compacts are also on the opening night program. Gates open a 5 p.m., the grand­stand opens at 5:30 p.m., hot laps are at 6:45 p.m. and racing starts at 7:15 p.m. at both Donnell­son and Vinton.Marshalltown opens the gates at 4 p.m. and the grand­stand at 5 p.m. Hot laps are at 6:30 p.m. and racing is at 7 p.m. Boone opens the pits at 2 p.m. and the grand­stand at 3 p.m. Hot laps are at 4 p.m. and the first green flag is at 5 p.m.More information about the respective Frostbusters is available from Lee County Race Director Mike Van Genderen at 641 521-0330, Benton County promoter Mick Trier at 515 201-5526, Mar­shalltown pro­moter Toby Kruse at 515 231-5444 and Boone promoter Robert Lawton at 515 987-1220.Track websites are www.leecountyspeedway.com, www.jjamracing.net, www.marshalltownspeedway.com and www.raceboone.com.The regular point season starts April 14 at Donnell­son and Marshalltown, April 15 at Boone and April 16 at Vinton.last_img read more

Chiriches agent out of order – AVB

first_img Spurs head into the weekend third in the Barclays Premier League, just two points behind early pacesetters Arsenal. It is a start to the season that pleased Villas-Boas, who will be even happier if they can collect three points on Sunday. “It has been good, but it will be excellent if we manage to win against West Ham,” he said. “I think 16 points out of 21, and playing Arsenal and Chelsea, would be a good start for us. “I think that game against West Ham will be a decisive game for us, to ensure that we have made a great, great start to the season. “I think if we manage to do this with the fact we are not suffering and we are scoring also a lot, it will be major motivation going forward after the October stop. “Also the October fixtures are a little bit easier for us and there is no difficult trip to a big team so we would like to progress from then on.” The north Londoners won the race for the highly-rated 23-year-old late in the summer transfer window, forking out £8.5million to acquire the centre-back from Steaua Bucharest. Chiriches has impressed in his fleeting appearances for Spurs so far, with fans voting him man of the match in Thursday’s 2-0 Europa League win at Anzhi Makhachkala. Those supporters will, though, have been less than enamoured by comments made by the Romania international’s representative. Victor Becali suggested Chelsea would be willing to pay a large sum for Chiriches if he settles well in England over the next two years, saying Blues boss Jose Mourinho has been aware of the centre-back since his time as Real Madrid coach. Having seen Luka Modric and Gareth Bale exit White Hart Lane in recent times, Villas-Boas was understandably angered by the remarks. “Obviously the comments are completely disproportionate and out of reality,” the Portuguese said. “I have spoken to the player, told the player to speak to the agent and we have acted accordingly. “We consider ourselves a big club. We’re not a stepping stone to anybody. “We don’t expect Becali to retract himself because it is not part of his character, but it was completely out of proportion the comments that he made.” Chiriches is likely to return to the bench when Tottenham’s attention returns to domestic action against West Ham on Sunday. Andre Villas-Boas was incensed by a suggestion from Vlad Chiriches’ representative that the defender only moved to Tottenham with a view to impressing Chelsea, insisting the club are “not a stepping stone to anybody”. Press Associationlast_img read more