By Gareth VaughanLike it or not banks are a cornerstone of our economy, meaning they'll need to be a key influence in the push to decarbonise. Speaking in interest.co.nz's Of Interest podcast Rebekah Cain, BNZ's Chief Sustainability Officer, describes the NZBA as "a group of banks committed to transition the finance sector to net-zero." BNZ's NZBA targets disclosure initially features 2030 targets for the coal mining, dairy farming, power generation and oil and gas sectors. For BNZ Cain acknowledges there's both derisking going on and lending growth opportunities being eyed. In terms of the latter, in the power generation sector BNZ's assuming a 50% increase in electricity demand between 2020 and 2050.

Source: Stuff August 05, 2023 10:50 UTC