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AAP
AAP
Derek Rose

THE TRUTH ABOUT: No value bank defends dropped no deforestation plan - The Untold Story

Westpac Deforestation Anthony Miller Market Forces Mick Tsikas Australia
Westpac is under fire for dropping plans to cut lending to customers linked to deforestation. (Joel Carrett/AAP PHOTOS)

Australia's oldest bank has copped criticism for backing away from commitments made under its previous leadership to stop lending to customers involved in deforestation or fossil fuel extraction.

The deforestation policy, proposed under past CEO Peter King two years ago, would have required agricultural borrowers to commit to not converting natural forests for farming purposes from December 31.

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