South Africa’s Nedbank to stop funding new coal mines
SOUTH Africa's Nedbank has announced that it will stop financing new thermal coal mines from 2025 and cut direct funding of new oil and gas exploration projects with immediate effect, amid growing pressure on banks from climate activists. South Africa's lenders - some of the biggest banks on the continent - are facing pressure from environmental groups to stop funding fossil-fuel power projects that are seen as a major risk to global plans to tackle climate change. South Africa, the continent's biggest greenhouse gas emitter, gets most of its power from coal-fired power stations. Nedbank, one of the country's four…