BY sanjana behera

Bank Stop Loans for Petrol and Diesel Vehicles by 2025 in Australia

Bank Australia will no longer give out loans for the new vehicles running on...

Bank Australia/Pinterest

PETROL OR DIESEL

The rule will come to force in 2025, as a part of the Bank Australia's commitment to go...

CARBON NEUTRAL BY 2030

The announcement was made in the city of Canberra, at the...

NATIONAL ELECTRIC VEHICLE SUMMIT

The Bank's decision comes at the backdrop of fossil-fuel run cars contributing to...

43% OF AUSTRALIA'S OVERALL EMISSIONS

- Sasha Courville, Bank Australia chief impact

"

By ceasing car loans for new fossil fuel vehicles, we are sending a signal to the Australian market about the rapid acceleration in the transition from internal combustion to electric vehicles we expect to see in the next few years,”

the first bank in Australia to switch to 100% RE, would still continue to offer loans to second hand fossil fuel vehicles till a robust market for EV is ready.

BANK AUSTRALIA,