The ANZ bank has faced swift backlash after announcing a new ‘climate test’ for loans.

The bank will halt lending to the country’s top emitters unless they adopt “clear and public transition plans” to achieve net zero carbon emissions by 2050.

ANZ says the policy will not affect family farms.

Agriculture Minister David Littleproud accused ANZ of “imposing their philosophical will” on the Australian people after being “terrorised” by activists.

He told Jim Wilson it’s a “dangerous” policy with flow-on effects for the agriculture sector, despite the bank’s assurances.

“We do not need banks in this country trying to become our society’s moral compass and arbiter.

“That is for the Australian government to do.

“Someone will pay for this, and I worry that it’ll be Australian farmers.”

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