Cut Emissions or Face Higher Interest Rates: NAB Warns Australian Businesses

One of Australia’s largest commercial banks has warned that lenders across the country will soon impose higher interest rates on businesses that do not have a plan to reduce their carbon emissions. During a recent business event, Andrew Irvine, the group executive for business and private banking at the National Australia Bank (NAB), shared his view on the outlook of the Australian lending market and what banks would expect of business customers. The executive said business owners needed to start keeping tabs on their carbon emissions and come up with a plan to reduce them if they wanted to get more favourable interest rates....