Increased coal and gas lending as Westpac approaches policy due date

5 March 2020 Australia has faced years of worsening bushfires, storms and drought since Westpac last announced a climate policy. This policy is obviously inadequate as the bank has sunk $5.4 billion into fossil fuels, including $846 million to projects that expand the scale of the industry, since it pledged … Read More

Urgent: Tell HSBC to withdraw from Payra coal port

31 Jan 2020 Use the form on the right to email HSBC telling the bank to withdraw from Payra Port. UK-headquartered HSBC is arranging finance for the dredging of Payra coal port in Bangladesh. Among other commodities, this port would import 20 million metric tons of coal for eight proposed … Read More

Shareholders fire a shot across NAB’s bow over climate failure

18 December 2019 After record levels of shareholder support for climate risk management resolutions at ANZ and Westpac, it was NAB’s turn today to face the music over its failure to adequately manage climate risk. Since the Paris Agreement was signed in 2015, NAB has continued to lend heavily to … Read More

ANZ grilled on climate inaction and secret coal plan

17 December 2019 Coal lending was on the agenda two weeks before ANZ’s annual shareholder meeting in Brisbane today, as revelations hit the news that ANZ had a secret plan to slash its thermal coal mining loans by 75% (representing more than $700 million) by 2024. The secrecy of the … Read More

Westpac: a laggard on climate change

12 December 2019 Westpac’s board knew they would be facing fired-up shareholders at today’s annual general meeting (AGM) but perhaps weren’t prepared to bear the weight of responsibility for the impacts on communities and customers fighting the climate crisis.  Amid its recent scandals, the board was forced to address the … Read More

NAB climate commitments too little, too late

15 November 2019 NAB’s sustainability report, released today, signaled an end to the bank’s involvement in thermal coal mining, but places its exit far later than what is needed to help meet the Paris Agreement climate goals. The commitment to be out of thermal coal by 2035 is five years … Read More

HSBC: don’t fund coal in Bangladesh

12 November 2019 Our new report, co-published last week with civil society organisations in Bangladesh, shows that if all the coal power projects proposed for Bangladesh were built, these plants would increase the country’s coal capacity 63-fold, from 525 MW today to 33,200 MW by 2031. HSBC is considering funding … 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