Opposition Leader Peter Dutton criticizes Bendigo and Adelaide Bank for denying a loan to a Tasmanian forestry firm, citing environmental concerns. Dutton argues that banks should focus on creditworthiness and not discriminate against businesses based on 'woke' agendas.
Peter Dutton has criticized the ' woke agenda ' and 'big banking executives' after a Tasmanian forestry firm claimed it was denied a loan by a major bank due to environmental concerns. TP Bennett and Sons, a family-owned business, attempted to secure a loan from Bendigo and Adelaide Bank following the closure of their local ANZ branch. However, the bank declined their application, citing environmental reasons.
Tammy Price, owner of TP Bennett and Sons, revealed to the Australian Financial Review that the company was forced to seek financing from non-bank lenders as a result. Bendigo and Adelaide Bank has publicly stated its intention to align lending practices with environmental goals. In their 2024 climate report, the bank acknowledged that since at least 2021, it has refrained from providing loans to projects involving fossil fuels or forest logging. Dutton expressed his discontent with the bank's decision on Thursday, characterizing it as a manifestation of the 'woke agenda'. He argued that a business's eligibility for financing should solely depend on its creditworthiness and ability to repay the loan. Dutton asserted that the banking sector's primary function is to provide financial services to customers and that discrimination based on factors unrelated to creditworthiness is unacceptable. He also questioned the motives of high-paid banking executives, implying they lack the same values and standing as individuals in the forestry industry.Dutton's criticism follows a similar call to action from Tasmanian politician Eric Abetz. Abetz commended the Tasmanian forestry industry for producing high-quality timber and highlighted the economic and environmental benefits of locally sourced lumber. He argued that denying loans to forestry businesses ultimately undermines sustainability and forces reliance on imports from countries with less stringent environmental regulations. Abetz has written to Bendigo and Adelaide Bank CEO Richard Fennell, urging him to reconsider the loan denial and support a vital industry that contributes significantly to the Tasmanian economy and environment
PETER DUTTON OPPOSITION LEADER WOKE AGENDA BANKING FORESTRY ENVIRONMENTAL CONCERNS TASMANIA BEN Digo AND ADELAIDE BANK
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chalmers Slams Dutton's Nuclear Policy as 'Economic Madness', Citing $1.4tn Hit to NSWLabor Treasurer Jim Chalmers accuses Peter Dutton's Coalition of economic irresponsibility, citing a $1.4 trillion hit to the New South Wales economy over the next 25 years due to their nuclear energy policy. Chalmers argues that the Coalition's plan for a smaller energy grid will stifle economic growth and result in higher energy prices for Australians.
Read more »
Dutton Slams Tech Giants Over Child Abuse MaterialPeter Dutton criticizes social media companies for their inaction against child abuse material, recalling past efforts to combat the issue. The Opposition Leader highlights the alarming response from tech giants, suggesting they prioritize profit over child safety.
Read more »
Western Sydney Mayor Slams 'Woke' Councils Skipping Australia Day Citizenship CeremoniesFairfield Mayor Frank Carbone criticizes councils canceling Australia Day events, advocating for adherence to January 26th celebrations or the preceding evening. He supports Peter Dutton's pledge to reinstate mandatory citizenship ceremonies on Australia Day.
Read more »
Dutton's Nuclear Plan: Long Coal Reliance and Cost ConcernsAn expert raises concerns about Peter Dutton's plan to replace coal plants with nuclear power, highlighting the extended reliance on coal and potential cost overruns.
Read more »
Albanese and Dutton Deliver Christmas Messages Amid Cost of Living CrisisBoth leaders acknowledged the economic hardship many Australians are facing this Christmas while thanking emergency workers and reflecting on the meaning of the holiday.
Read more »
Albanese and Dutton Extend Christmas Greetings, Acknowledge StrugglesPrime Minister Anthony Albanese and Opposition Leader Peter Dutton both delivered Christmas messages, expressing gratitude to those serving and supporting communities while acknowledging the financial hardships faced by many Australians.
Read more »