Net Zero Australian banks fund $3.5bn carbon bomb

18 January 2022 NAB, ANZ and Westpac are among 18 global banks that have trashed any net zero commitments they have by lending1 US$3.49 billion to Global Infrastructure Partners (GIP) for its purchase of a 49% stake in the Pluto LNG Train 2 gas processing facility, paving the way for … Read More

New ANZ climate policy shuffles Titanic chairs

26 November 2021 ANZ today updated its climate policy, which fails to prevent the bank funding new oil and gas projects and the companies pursuing them. This is despite the IEA concluding there is no room for new fossil fuel supply projects to achieve net-zero emissions globally by 2050. The … Read More

Global Infrastructure Partners to light the fuse on Woodside’s carbon bomb

15 November 2021 US-headquartered Global Infrastructure Partners (GIP) has entered into a purchase agreement for a 49% stake in Woodside’s planned Pluto Train 2 LNG project.  Woodside says the deal is a significant milestone towards a final investment decision on the Scarborough-Pluto 2 development project. It is estimated the project, … Read More

NAB arranging funds for Origin Energy despite new climate policy

15 November 2021 Just days after releasing a new “transition-focused” oil and gas policy, it has been revealed that NAB is co-arranging a A$2.4 billion loan for Origin Energy. Origin Energy is pursuing gas drilling in the Beetaloo Basin, which would emit up to 1.35 billion tonnes of CO2-e over … Read More