At its 2024 AGM in Melbourne, NAB Chair Philip Chronican indicated that the bank will stop providing finance to fossil fuel extraction companies with expansion plans this year.
Banks
Banks must bring in 2025 with a big bang for the climate
By Will van de Pol, Chief Executive Officer, Market Forces, clean energy finance advocacy organisation. What’s your New Year’s resolution? The Commonwealth Bank has made a groundbreaking resolution to stop funding coal, oil and gas companies without genuine plans...
Scientists call on ANZ to listen to science and stop banking new fossil fuels
Thursday 19 December: Climate change scientists have backed hundreds of shareholders demanding ANZ and all big four Australian banks meet their climate commitments by ending finance for companies developing new and expanded fossil fuel projects. The calls by...
Farmers join shareholders to demand NAB ends finance for new fossil fuels
Wednesday 18 December: Farmers across Australia have joined hundreds of shareholders calling on NAB and all big four Australian banks to end finance for companies expanding coal, oil and gas production. The calls by farmers come as NAB - which calls itself the...
Emergency Leaders, shareholders call on big four banks to end finance for new fossil fuels
Friday 13 December: Emergency Leaders have joined bushfire survivors and hundreds of shareholders calling on the big four Australian banks to end finance for companies expanding coal, oil and gas production. The calls by Emergency Leaders for Climate Action come as...
ANZ, NAB and Westpac still have no clear plan to stop financing fossil fuel expansion
ANZ, NAB and Westpac all released their annual Climate Reports last month, with mostly disappointing results. The key takeaway is that the door is still open for fossil fuel companies to keep receiving more finance for their climate destroying expansion plans. Take...
CommBank’s climate progress scrutinised for inconsistencies
Pressure on ANZ, NAB and Westpac heading into AGMs
Woodside seeking further debt finance to continue with its climate-wrecking gas expansion plans
Australian oil and gas company Woodside is looking to issue an “unsecured 10-year and/or 30-year bond offering,” according to LSEG, which would provide the company with a new source of finance for its gas expansion plans. While the value of the bond issuance has not...
Breaking: CommBank formally walks away from climate wrecking clients
While ANZ, NAB and Westpac gear up to loan hundreds of millions more to one of Australia’s most notorious climate wreckers Australia’s largest bank, the Commonwealth Bank of Australia, made a huge announcement this morning, declaring it has made the decision to...
Macquarie’s oil and gas lending brings its net zero commitments under fire
Macquarie, Australia’s fifth largest bank, faced questioning from Market Forces over inconsistencies between its oil and gas investments and its commitment to net zero emissions by 2050 at its 2024 Annual General Meeting in Sydney. As a Net Zero Banking Alliance...