Bank stands by controversial loan policy

Bank Australia is standing by a policy to no longer finance new fossil fuel cars from 2025 in a bid to combat climate change.

The new policy came to light on 3AW Drive last week, with concerns it will most impact those on low incomes.

“Bank Australia is a customer-owned bank and we know our customers are deeply concerned about climate change and want to see more action there,” Jane Kern, Head of Impact Management at Bank Australia, told Tom Elliott.

Press PLAY below to hear the policy explained

Picture: Getty iStock