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NAB’s Port of Newcastle funding tied to green sustainability goals – ABC News

NAB will lend money to the Port of Newcastle, but it will need to reduce emissions and screen suppliers for modern slavery issues.

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National Australia Bank has agreed to finance the world’s largest coal export terminal so long as it meets a new set of social and environmental goals.
Key points:

  • Green groups say a new financing deal for the Port of Newcastle is a step in the right direction
  • $50m has been earmarked for port diversification amid the global shift away from coal
  • Screening for poor working conditions are also built into the agreement

Last year ANZ withdrew its funding for the Port of Newcastle under its emissions action…

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