ANZ CEO Shayne Elliott addressed concerns regarding the bank's new climate change statement, clarifying its impact on farmers. Elliott emphasized that the updated carbon policy will not shift support away from farmers. He stated, "I want to assure you that this is absolutely not the case."
The climate change statement targets the top 100 carbon emitters and does not affect ANZ's farmgate lending practices. Elliott reaffirmed ANZ's commitment to supporting Australian farmers and producers both now and in the future.
He explained that the focus is on assisting major agribusiness customers in operating more energy and capital-efficient operations, rather than targeting family farms. The measures are aimed at aiding large institutional customers across all sectors in transitioning to low-carbon businesses.
Elliott expressed pride in the new policy, noting constructive conversations with customers. He mentioned that it aligns ANZ with global best practices. Additionally, ANZ has allocated $1 billion towards disaster recovery and resilience funding for customers and communities, which could benefit rural Australia.