Announcement at national electric vehicle summit comes as climate change minister seeks input on national EV strategy

An Australian bank will stop offering loans for new fossil fuel cars from 2025 in a step it says will encourage more people to buy electric vehicles.

The customer-owned Bank Australia will announce the self-imposed ban at a national EV summit in Canberra on Friday, arguing it is a responsible step to ensure its lending practices did not “lock our customers into higher carbon emissions and increasingly expensive running costs”.

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