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...
Banks
Big banks need to update their fossil fuel policies
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...
When NAB ruled out funding Carmichael coal…
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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...
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...
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...
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...
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...
Funding the Galilee coal mines just got harder
17 June 2015 It has been a privilege to support the Wangan and Jagalingou (W&J) traditional owners of the Galilee Basin to meet with banks across the US and Europe. The meetings were critical opportunities for the W&J to explain how financing Adani's proposed...
Commbank biggest lender to coal and gas in the Reef
16 May 2015 A lot has changed in the two years since we released our Financing Reef Destruction report, which identified Australia's big four banks as the leading financiers of fossil fuel projects within the Great Barrier Reef World Heritage Area. Some changes have...