NAB fails to address fossil fuel lending loopholes at 2022 AGM

16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. … Read More

ANZ pulls the wool over investors eyes on climate at 2022 AGM

Australia New Zealand Bank

15 December 2022 Just over 8% of shareholders voted in favour of a formal proposal calling on the bank to demonstrate how its funding would not be used for new fossil fuel projects at today’s annual general meeting. Last month, a UN High-level Expert Group confirmed what many experts have … Read More

Westpac’s ‘laughable’ greenwashing called out at 2022 AGM

14 December 2022 Over 10% of Westpac’s shareholders defied the board to support a formal proposal calling on the bank to demonstrate how its funding won’t be used for new fossil fuel projects at today’s annual general meeting (AGM) in Melbourne. The bank was also grilled over the community costs … Read More

Big super funds quietly selling down shares in Santos and Woodside

18 October 2022 The latest round of mandatory super fund disclosures reveal that most of Australia’s biggest super funds are selling shares in climate wrecking oil and gas companies Santos and Woodside. Some funds, however, have significantly increased their stake in these companies, which are both pursuing new oil and … Read More

Were your retirement savings used to block climate action?

18 October 2022 Last Wednesday was a very sad day for climate action. Almost 95% of Commonwealth Bank’s shareholders – including our super funds – voted against a critical request for the bank to stop financing new and expansionary fossil fuel projects. We’re devastated at this abject failure by big … Read More

NAB refinances the climate-wrecking Coastal GasLink pipeline

NAB Logo

NAB has once again failed to match its rhetoric and commitments on climate change with real action, refinancing a new gas pipeline project in Canada. At its 2021 annual general meeting (AGM) NAB Chairman Phil Chronican told shareholders and Traditional Owners that its financing of the enormous climate-wrecking Coastal GasLink … Read More

Words vs. actions: Adani pursuing more new thermal coal projects

Crowd with 'don't fund Adani coal' banner

08 September 2022 “Today climate change is one of the biggest challenges. Those challenges also open up huge business opportunities. The opportunity in this case is energy transition, the transition from fossil fuels to renewables and to hydrogen.” (Gautam Adani, quoted in Fortune India, June 2022) It’s statements like the … Read More

Lockton rejects Adani’s Carmichael coal mine

26 August 2022 Adani continues to face difficulties managing insurance coverage for its climate-wrecking Carmichael thermal coal project. Would-be insurance broker Lockton has revealed to Market Forces that it never signed the letter of appointment it was sent by Adani Australia, and that it will never work for the Carmichael … Read More