Banks and investors no longer automatically accept proponent and government assurances on environmental risk, and are now increasingly doing their own risk analysis on finance for major projects, according to the Investor Group on Climate Change.
A new Australian Conservation Foundation report says the nation's big four banks can't finance Galilee Basin coal projects while meeting their obligations under the Equator Principles.
The big four banks are under new pressure from activists to cease financing coal projects that could harm the Great Barrier Reef, while 'Lock the Gate' today sought a NSW Ombudsman's investigation into approval processes for mines.
AMP Capital says its new restrictions on investing in coal and coal-to-liquids companies will have limited practical effect, but show that investors are alert to massive adjustments taking place in the energy sector.