Melbourne, 26 February 2016 Australia's major banks continue to play an integral role in financing the fossil fuel industry, despite commitments to support the goal of limiting global warming to less than two degrees. Market Forces has analysed lending to the fossil...
Commbank’s climate credentials don’t make it through Paris
7 December 2015 Well that was short lived! A month ago we were celebrating Commonwealth Bank's new Group Environment Policy committing the bank to the goal of limiting global warming to less than two degrees. For a moment, it looked like Commbank really got the issue...
Media Release: Australia’s big four banks commit to 2 degree global warming goal – but which ones mean real action?
5 November 2015 Market Forces have today welcomed announcements from Commonwealth Bank and NAB that acknowledge the need to limit global warming to less than two degrees, calling on the banks to back up their statements with action that matches this ambition. The...
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...
Making your finances fossil free
4 June 2014 Are your personal finances helping to damage the climate? Chances are they are, without you even knowing it. Do you have a bank deposit? Are you a member of a super fund? Do you own shares? If so, your money is probably being used to finance the companies...
Adani given “Stranded Asset” award for 3rd most unburnable coal
30 April 2014 Adani - owners of what would be Australia's biggest ever coal mine - have just been ranked as the company with the third most unburnable coal in the world. We thought that was an achievement worth recognising, so in a mock award celebration, Market...