NAB: withdraw investment in the Coastal GasLink pipeline

WetWet'suwet'en solidarity - Coastal GasLink pipeline

Despite its commitments to net-zero by 2050 and the Paris Agreement, NAB has continued pumping hundreds of millions of dollars into projects that expand the fossil fuel industry and the companies pursuing them. Last year, it loaned CA$117.5 million to the 670km climate-wrecking Coastal Gaslink pipeline in Canada. Based on … Read More

ANZ fails to rule out funding fossil fuel expansion amidst climate crisis

Australia New Zealand Bank

26 November 2021 ANZ, a bank purportedly committed to net-zero emissions by 2050, today released an updated climate policy that does nothing to prevent it from funding new climate-wrecking oil and gas projects and the companies pursuing them. The policy update comes just months after the International Energy Agency (IEA) … Read More

Commonwealth Bank rebuked over fossil fuel funding at AGM

Commonwealth Bank logo

13 October 2021 As the International Energy Agency (IEA) prepares to publish the most detailed account of its Net Zero Emissions by 2050 scenario—in which there’s no room for expansion of the fossil fuel industry—Commonwealth Bank’s annual shareholder meeting saw its investors push for the bank to limit fossil fuel … Read More

ANZ held to account for climate inaction at AGM

16 December 2020 Following the release of a lacklustre update to its climate policy in October, today’s ANZ annual general meeting (AGM) saw the bank’s board held to account for the gap between rhetoric and action on climate change. However, perhaps the bank wasn’t as prepared to bear the weight … Read More

Westpac 2020 AGM: funding climate failure is the ‘sweet spot’

11 December 2020 Westpac’s board knew they would be facing tough questions from shareholders at today’s annual general meeting (AGM) given the banks’ continued funding for Australia’s most climate-destructive companies, including Whitehaven Coal and Santos. The bank’s updated climate policy, released in May, was a step forward as it pledged … Read More

Mineral Resources pursues pathway out of line with 1.5°C

The Mineral Resource board made it clear at yesterday’s annual general meeting (AGM) that they would continue to pursue dirty oil and gas development despite their peer Fortescue Metals announcing a major move into renewable energy and green hydrogen.  Mineral Resources is a  lithium and iron ore mining company with … Read More

NAB mealy-mouthed on 2030 thermal coal exit

NAB

5 November 2020 NAB’s full year results released today reveal the bank is “expected” to exit thermal coal mining by 2030, five years earlier than its inadequate official commitment to exit by 2035. NAB’s announcement last year that it would exit thermal coal mining by 2035 drew widespread criticism for … Read More