In Australia’s push to follow other developed nations’ transition to electric vehicles, one bank in the country said it will stop giving out loans for new gas or diesel vehicles beginning in 2025, including hybrids.
According to Sasha Courville, Bank Australia’s chief impact officer, the date was chosen “because the change to electric vehicles needs to happen quickly.” [bold, links added]
“We think that the responsible thing for us to do next, is to ensure that our vehicle lending doesn’t lock our customers into higher carbon emissions and increasingly expensive running costs in the years ahead,” 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 buying a new car, you should think seriously about an electric vehicle – both for its impact on the climate and for its lifetime cost savings.”
The announcement comes as the government in Australia said it was “significantly behind the pack when it comes to electric vehicles.”
To ensure that trend doesn’t continue, “national leadership is needed,” the government added.
“In this context, we believe that now is the time to have an orderly and sensible discussion about whether vehicle fuel efficiency standards could help improve the supply of electric vehicles in the Australian market, address the cost-of-living impacts of inefficient cars, and reduce emissions from the transport sector.”
The idea of cutting off financial support for combustion engines is not new, according to CNBC.
In 2020, Denmark’s Merkur Cooperative Bank said it would halt financing for new diesel and gasoline cars.
All of this comes as major European economies are laying out plans to move away from road-based vehicles that use diesel and gasoline.
The U.K. wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero-tailpipe emissions. The European Union — which the U.K. left on Jan. 31, 2020 — is pursuing similar targets. (CNBC)
The Australian bank said that loans would continue for used fossil fuel vehicles “until there is a viable and thriving market for electric vehicles.”
Read rest at Townhall
These idiots are playing with fire and are too stupid to recognize what they are risking.
If I were a customer of this bank, I would cease to be in very short order..!!
In 1970, April 17 to April 30. My wife and I went up the coast from Brisbane to Cairns and then back, via Longreach, a total of 3,200 miles. A 7cwt Holden ute. Slept in the back of the ute each night except for three nights in a ‘van in Cairns. (Highest price for fuel: $0.462/gal. – in Hughenden.)
Try that in an electric car. Living in Canberra – I guess if you’re going anywhere outside ACT – you fly.
(The transcribed diary for that trip runs 16 pages, even includes being at the Curtain Fig Tree at midday on the 25th, listening to a radio broadcast of the ceremonies from Canberra.)
I’m an Australian and I’ve never heard of Bank Australia.
https://en.wikipedia.org › wiki › Bank_Australia
Bank Australia – Wikipedia
Bank Australia offers banking products including everyday banking, savings, term deposits, personal and car loans, home loans, credit cards and commercial banking services. It operates digital banking services through internet and mobile app banking.
I’d never heard of them either.
Let people Die over this Over Population lies by Paul Ehrlich