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Banks face divestment pressure from councils

Monday 16 Jul 18 10:00am

 

Banks can expect pressure from the country’s largest urban authorities to get their money out of fossil-fuel investment.

A remit that all local authorities should advocate to all major banks to move money from fossil-fuel companies to low-carbon investments was narrowly defeated at the Local Government New Zealand annual meeting in Christchurch yesterday – but that doesn’t mean that it won’t happen, says its chief proponent.

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