Bankers use ESG policy to pass judgement in TasmaniaFriday 17 Jan 2025
“Bendigo Bank does not know our industry and has no interest in knowing our industry. But through this ESG (Environmental, Social, and Governance) policy they are passing judgement on well-regulated, well-managed, legal and sustainable Australian native timber operations,” Mr Lester said. The choice to not support Australia’s sustainable native timber industry is a choice to outsource timber supply and jobs to other parts of the world. It is a choice to sacrifice our opportunities for regulatory oversight and control,” he said. This is a choice to make the management of our public native forests more expensive and increase the risks faced by the environment, communities and taxpayers. For Bendigo Bank this policy would have little impact. But for timber businesses and communities, it is a kick in the guts from a bank that is supposed to be on their side. Even the local branches in timber dependent communities have been caught out by this policy. To be clear, the timber industry supports high quality, sustainable regional jobs and better climate outcomes. “Active, sustainable management of our native hardwood estate is the best way to maintain healthy, biodiverse forests, support communities and create a valuable resource stream that is perpetually renewable," said Mr Lester. “The biggest threats to the future of our forests are uncontrolled fire and climate change. Life cycle analysis proves that well managed production of native timber stores more carbon over time in products that people want in their homes and offices. The community banking credentials are why AFCA was pleased to use Bendigo Bank for their financial services provider. On the basis of this ESG policy the AFCA Board has chosen to end our business relationship. Source: Australian Forest Contractors Association (AFCA) Also read Sticking to facts on Tasmanian Native Forestry (The Mirage)  | ||
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