NAB gets dangerously close to climate policy breach

NAB, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today released its inaugural Climate Report and once again failed to commit to ruling out financing companies building new fossil fuel projects.  NAB said it will be “considering selectively reducing exposure to high emitting … Read More

Westpac sees climate impacts, increases fossil fuel exposure

Westpac, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, revealed an 11% increase in FY22 of its overall exposure to fossil fuels, with the increases attributed to customers in the coal rail transportation, LNG terminal, and oil and gas sectors.  Westpac cited that … Read More

Austbrokers under pressure due to Adani coal links

4 November 2022 Austbrokers parent company AUB Group trotted out several classic fossil fuel industry talking points at its annual general meeting (AGM) in Sydney yesterday, in an attempt to justify its work arranging insurance for the climate-wrecking Adani/Bravus Carmichael coal project. Under questioning from shareholder proxies, AUB Chairman David … Read More

ANZ missing its own climate mark

ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure.  In FY22, ANZ increased its exposure to upstream oil and gas extraction, … Read More

Big super funds quietly selling down shares in Santos and Woodside

18 October 2022 The latest round of mandatory super fund disclosures reveal that most of Australia’s biggest super funds are selling shares in climate wrecking oil and gas companies Santos and Woodside. Some funds, however, have significantly increased their stake in these companies, which are both pursuing new oil and … Read More

Coal miners looking to self-insure new climate-wrecking projects

New Hope Group's Bengalla coal mine, 2014.

Since 2021, coal miners, including Adani/Bravus, New Hope and Whitehaven, have complained openly of difficulties securing insurance for their destructive activities. 45 major insurers have ruled out any coverage of Adani’s Carmichael coal mine, and according to Insure Our Future, 41 major insurers have some broader coal exclusion policy in … Read More

NAB refinances the climate-wrecking Coastal GasLink pipeline

NAB Logo

NAB has once again failed to match its rhetoric and commitments on climate change with real action, refinancing a new gas pipeline project in Canada. At its 2021 annual general meeting (AGM) NAB Chairman Phil Chronican told shareholders and Traditional Owners that its financing of the enormous climate-wrecking Coastal GasLink … Read More