Long way to go to stop lending for deforestation

Australian banks have been slow to reduce their involvement in deforestation, with major lenders like ANZ, Westpac, and Commonwealth Bank still financing agribusinesses linked to land clearing, which contributes to climate change and threatens biodiversity. A report by the Australian Conservation Foundation highlights the risks associated with deforestation, urging banks to eliminate such practices from their portfolios and calling for a national strategy to end deforestation by 2030.

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