By Morgan Pickett, Senior Policy Analyst, Market Forces, a clean energy finance advocacy organisation. Macquarie Group began life in Sydney in 1969 with just three employees. Today, Macquarie is one of Australia’s most powerful financial institutions, operating across...
Banks
Macquarie hauled over coals for tripling fossil fuel finance
Thursday 23 July: An Australian Security Leaders Climate Group Executive and an internationally acclaimed climate scientist have joined more than 160 shareholders and Market Forces to demand Macquarie Group explains how its skyrocketing finance for major new oil and...
Macquarie climate blackflip is ringing alarm bells for investors
By Kyle Robertson, Head of Research, Market Forces It wasn’t long ago that the world’s major banks, including Macquarie, were collectively mobilising to achieve the goals of the Paris Agreement. In April 2021, now Canadian prime minister, Mark Carney launched the...
Macquarie suffers shareholder backlash for climate backflip and new fossil fuel finance
Wednesday 20 May: More than 160 shareholders have joined with Market Forces to demand Macquarie Group explains how increasing its fossil fuel lending, slashing its green energy investments and watering down its climate strategy is consistent with its commitment to the...
We’re all paying the price of banks and pension funds fuelling climate disasters
By Kyle Robertson, Head of Research, Market Forces. People across Asia and Australia are experiencing another scorching season of deadly and terrifying wildfires, heatwaves and floods. The world has just endured the three hottest years on record according to the World...
Security Leaders, shareholders reprimand ANZ on climate failure
Thursday 18 December: Security Leaders have joined shareholders calling on ANZ to uphold its climate commitments by ceasing finance for coal, oil and gas expansion, which undermines the safety of all Australians. The calls by the Australian Security Leaders Climate...
Emergency Leaders, shareholders warn Westpac: meet climate pledges
Emergency Leaders have joined shareholders warning Westpac has a duty to meet its climate commitments by ending finance for companies expanding coal, oil and gas, fuelling worsening bushfires, floods and deadly heatwaves. The warning from Emergency Leaders for Climate...
Australia’s big banks face big climate decisions
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....
Big four banks fund major fossil fuel firms $43 billion in 10 years
Wednesday 12 November: New analysis by Market Forces finds that in the decade since the Paris Agreement was adopted to rein in climate change, Australia’s big four banks – ANZ, Commonwealth Bank, NAB, and Westpac – have provided AU$43.4 billion to the world’s major...
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...