Free Republic

Bank Australia recently announced that it will stop granting loans for new fossil fuel cars from 2025 forward to force more people to purchase electric vehicles. Justifying the bank’s move, its chief impact officer proclaimed, “We think that the responsible thing for us to do … is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead.” But is making it more difficult for hard-working men and women to obtain affordable vehicles that run on reliable energy really the “responsible thing” to do? That’s exactly the...

An Australian bank announced this week that it will stop funding loans for new gas and diesel cars in 2025 to encourage the shift to electric vehicles. "We think that the responsible thing for us to do next, is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead," Bank Australia Chief Impact Officer Sasha Courville said in a statement on Friday. "Ultimately, our announcement today is the beginning of a conversation with our customers and a signal to the wider market that if you’re considering...