Fossil fuel lending in 2015 – The story so far

1 October 2015 As the banks’ AGMs rapidly approach, we thought it would be useful to check in with our latest research and see what stories have come out of the fossil fuel lending numbers so far this year. All data quoted below is taken from our research into fossil … Read More

Big banks need to update their fossil fuel policies

Is your bank investing in dirty fossil fuels?

15 September 2015 An article written by Clancy Yeates in yesterday’s Sydney Morning Herald highlighted the significant financial and reputational risks that fossil fuel assets pose to banks, and questioned whether NAB and CommBank’s recent moves to distance themselves from Adani’s Carmichael mine project indicate a growing wariness of these … Read More

When NAB ruled out funding Carmichael coal…

3 September 2015 What a moment. There we were, sitting in a meeting at NAB along with Adrian Burragubba, traditional owner from the area we know as the Galilee Basin, who had just explained how Adani’s proposed Carmichael mega mine would devastate his ancestral land and threaten the culture of the … Read More

Commonwealth pulls out of Carmichael mega-mine

6 August 2015 After months of sustained community pressure, Commonwealth Bank has ended its role as advisor to Adani’s Carmichael coal project. Fairfax last night reported that the bank cited environmental factors and financial risks as the reasons for breaking ties with the project. The decision is a massive blow to the Indian company’s … Read More

Stephen moves his home loan

5 August 2015 After living in Melbourne for many years, Stephen and his family decided to move to country Victoria in pursuit of a more sustainable lifestyle. They bought an existing house that was relocated to their property and undertook a significant DIY sustainability makeover. They then started developing a … Read More

Renewable energy roadblocks sending investment offshore

20 July 2015 In today’s Australian Financial Review, NAB has vowed to continue lending to renewable energy projects despite the Australian government’s clear aversion to the sector, with a reported $1.6 billion worth of commitments to future projects globally. NAB has claimed for several years that it is Australia’s biggest lender … Read More

Australian LNG projects: the next stranded assets?

9 July 2015 For years, Australia has harboured dreams of being a big player in the liquefied natural gas (LNG) industry. Former Energy and Resources Minister (and now, conveniently, Chairman of the Australian Petroleum Production & Exploration Association Advisory Committee) Martin Ferguson was hell bent on the idea that we … Read More

Revealed: billions loaned to fossil fuels by the big banks

18 June 2015 Since 2008, Australia’s big four banks (ANZ, Commonwealth, NAB and Westpac) have loaned $36.7 billion to the fossil fuel industry in Australia, and were involved in three-quarters of all deals to fossil fuel projects and companies over the same time frame. That’s the key finding of a … Read More