By Will van de Pol, Chief Executive, Market Forces AS LIBERAL MEMBERS squabble after formally rejecting the scientific and economic imperative to reach net zero greenhouse gas emissions, a division is also starting to open up among the nation’s largest banks....
Banks
Macquarie closes third dirty fracking deal in less than a year
Macquarie is a critical financial backer of what could be Australia’s next biggest gas development in the heart of Australia’s Northern Territory, the Beetaloo Basin. This directly contradicts the bank’s green credentials and violates its commitments to the goals of...
Health workers and super fund members rally, demanding HESTA rejects new fossil fuels
HESTA felt the heat last week as members, health workers and concerned community members rallied outside the super fund’s Melbourne office, demanding greater action on climate change. Tell HESTA to say no to new fossil fuels Our communities are facing increasing...
Macquarie receives shareholder revolt on climate at 2025 AGM
2025 AGM result: 35.2% in favour of climate resolution The first ever climate-related shareholder resolution at Macquarie, filed by Market Forces, received significant support from shareholders with a huge 35% of shareholder votes in favour. The resolution called on...
Westpac’s new climate plan betrays scientific reality
In-short: Westpac’s new climate plan, released late last week, is a massive backpedal on its previous position and puts it more on par with perennial climate laggard, ANZ. Westpac formerly had a clear requirement for oil and gas clients to produce a 1.5°C-aligned...
ANZ – Bank AGM Season 2024
ANZ held its 2024 AGM in Melbourne on the 19th of December.
27.2% of ANZ shareholder votes were cast in favour of a Market Forces resolution calling for the bank to stop financing fossil fuel companies without Paris-aligned transition plans.
Westpac – Bank AGM Season 2024
Westpac held its 2024 AGM in Sydney on the 13th of December, and faced significant shareholder backlash for its failure to bring its fossil fuel finance policy in line with its commitments to the Paris Agreement.
NAB – Bank AGM Season 2024
At its 2024 AGM in Melbourne, NAB Chair Philip Chronican indicated that the bank will stop providing finance to fossil fuel extraction companies with expansion plans this year.
ANZ, NAB and Westpac still have no clear plan to stop financing fossil fuel expansion
ANZ, NAB and Westpac all released their annual Climate Reports last month, with mostly disappointing results. The key takeaway is that the door is still open for fossil fuel companies to keep receiving more finance for their climate destroying expansion plans. Take...
CommBank’s climate progress scrutinised for inconsistencies
Pressure on ANZ, NAB and Westpac heading into AGMs