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Energy Minister urges customers to ditch ANZ over ‘inappropriate’ climate rules

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The government is encouraging ANZ customers to vote with their feet in response to the bank’s new ‘climate test’ for loans.

Agriculture Minister David Littleproud has threatened to revoke deposit guarantees in retaliation for demanding customers commit to net zero carbon emissions by 2050.

Energy Minister Angus Taylor told Deborah Knight the bank’s new policy is “absolutely inappropriate”.

“When banks are telling customers how to run their businesses at a detailed level, that’s a problem.

“I’m saying that customers who think that the ANZ bank is acting inappropriately by doing this should move. The customer is the ultimate regulator.”

Shadow agriculture minister Joel Fitzgibbon accused Mr Littleproud of “going on like a pork chop” in relation to the policy.

“His is the only government in the country that doesn’t have a commitment to net zero emissions by 2050 … it’s looking pretty embarrassing.”

Australia’s emissions targets and climate policies have been widely criticised by foreign governments, including most recently by British Prime Minister Boris Johnson.

“Let’s be clear here, we set our policies … not Brussels, not London,” Mr Taylor responded.

“[We] wouldn’t sacrifice jobs to reduce emissions.”

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Image: Getty



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