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BNZ signals end to fossil fuel lending by 2030, rural business owners 'concerned'

Author
Newstalk ZB,
Publish Date
Wed, 11 Dec 2024, 7:02pm
(Photo / File)
(Photo / File)

BNZ signals end to fossil fuel lending by 2030, rural business owners 'concerned'

Author
Newstalk ZB,
Publish Date
Wed, 11 Dec 2024, 7:02pm

There's concern among petrol station owners, following BNZ signalling its lending period for fossil fuels is ending.

BNZ has informed one business lending to petrol store owners will end - and the bank needs all debt repaid by 2030. 

The bank says it's an economic decision, as they're foreseeing people switching to electric vehicles. 

An anonymous owner of multiple rural petrol stations says the decision hurts farmers, who will still need diesel.

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