12 November 2019 In May 2018, HSBC put out a policy that ruled out funding new coal power plants in countries other than Bangladesh, Vietnam and Indonesia. Our new report, co-published last week with civil society organisations in Bangladesh, shows that if all the new projects were built, these plants … Read More
Increased fossil fuel lending out of line with Westpac’s climate commitments
8 November 2019 There is a clear disconnect between Westpac’s pledge to help curb the climate crisis and their subsequent decision to increase lending to fossil fuel projects. Though Westpac’s exposure to fossil fuels may have decreased from one September to the next, this does not capture the full extent … Read More
Bendigo Bank fails to back Paris Agreement for second year running
29 October 2019 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia’s medium-sized banks that doesn’t invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. But at the bank’s annual general … Read More
Getting out of coal can’t save CommBank scrutiny at its AGM
16 October 2019 In August, Commonwealth Bank took a major step forward when it committed to get out of thermal coal by 2030, a commitment that no other major bank has so far made. Today, shareholders showed their appreciation for this commitment, but quickly moved to hold the bank to … Read More
NAB, ANZ and Westpac hit with climate risk shareholder resolutions
10 October 2019 Market Forces has lodged shareholder resolutions with NAB, ANZ and Westpac, calling on the three major banks to reduce their exposure to coal, oil and gas in line with the climate goals of the Paris Agreement. The resolutions come after the major banks have continued to lend … Read More
Media Release: Three major banks face shareholder resolutions on climate action
Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and ANZ today. The resolutions call for a reduction in lending and … Read More
Take Action: HSBC violates its coal mining policy to fund Adani Carmichael
23 August 2019 Over 55 major corporations, from banking and insurance to engineering and construction, have ruled out working on the disastrous Adani Carmichael coal project. One of these companies is HSBC. Back in 2016 HSBC announced it would no longer finance new thermal coal mines. However, it was revealed … Read More
Westpac and HSBC violate their coal policies to fund Adani Carmichael
Adani’s Abbot Point coal port. Credit: Dean Sewell 23 August 2019 Two of these are Westpac and HSBC. Back in 2016 HSBC announced it would no longer finance new thermal coal mines. In 2017, Westpac also ruled out the Adani Carmichael project. However, both banks are providing Adani’s engineers GHD … Read More
Win! Commbank out of thermal coal by 2030!
7 August 2019 Great news! Commonwealth Bank has become the first in Australia to signal an end to thermal coal exposure! In its latest policy update, the bank has said it will: continue to reduce its thermal coal mining and coal-fired power generation exposures with a view to exiting the … Read More
