ANZ Pulls out of Newcastle Port Financing


The ANZ bank has pulled out of funding the Port of Newcastle in what is being interpreted as a significant rebuke of the coal industry and its exposure to climate risk.

  • ANZ divested from the port over concerns it could become a stranded asset
  • Other investors including NAB have continued to underwrite the port to assist it in diversifying
  • The NSW Government implemented laws that would restrict container traffic through Newcastle for 50 years


"The lasting negative implications for Newcastle and NSW are huge."

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