Yes it will be interesting to see what they do.... I expect it...

Yes it will be interesting to see what they do.... I expect it will be little more than out-sourcing to off-sets rather than much actual change.

Yet there will prob be a fair bit of divestment in the works as well.... easier to do as coal is declining in demand and price..... and with all the big miners now making moves to divest, ANZ won't need to sell much at all.

When Black Rock announced their carbon neutrality plans a couple of years ago they wrote to the companies they were invested in outlining their expectations of those co.s to present plans to do the same - out-sourcing at its most efficient and effective. Thus Black Rock caused a lot of co.s to shift from business as usual to either using off-sets themselves or actually making changes to their operations and infrastructure

The climate crisis has put the firm "on the edge of a fundamental reshaping of finance," founder and CEO Laurence Fink said in his annual letter to chief executives.

Activists hailed it as a "significant move" for a business of its massive size and reach.

Mr Fink's New York firm oversees the management of about £5.38 trillion in funds and has branches in dozens of countries.

In his letter, Mr Fink said climate change had become the top concern of clients.

He said the immediate shift will impact everything from municipal bonds to home mortgages, as he begins exiting fossil fuel investments and asking clients to disclose climate-related risks.

By mid-2020, he aims to sell off stakes in companies that earn more than 25 per cent of their revenues from thermal coal production.

"Over time, companies and countries that do not respond to stakeholders and address sustainability risks will encounter growing scepticism from the markets, and in turn, a higher cost of capital," Mr Fink wrote.

https://news.sky.com/story/blackrock-worlds-largest-finance-firm-vows-to-focus-on-climate-change-11908655I This article is dated Jan 2020...
I actually expected the Aus Big4 banks to follow suit when I read the BlackRock Ann. 2 years ago..... it makes excellent sense.
I accept that the Govts can't use the same strategy, but APRA/ASIC/RBA have all made similar announcements since the BlackRock move.