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

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

Westpac increases exposure to fossil fuel power generation

2 November 2020 Westpac’s full year results released today reveal the bank has reduced its exposure to fossil fuel mining and extraction while increasing it to coal and gas-burning power generation over the past year. Westpac’s 2020 Sustainability Performance Report also revealed for the first time the extent of the … Read More

The investors helping Woodside weather one crisis but not the other

28 April 2020 Woodside Energy is Australia’s largest gas producer, with a focus on liquefying and exporting gas, a fossil fuel the use of which cannot be expanded if we’re to limit global warming to 1.5°C. Woodside is headquartered in Western Australia, where most of its projects are located, including … Read More

Stuck in the pipeline: Vietnam’s coal projects stall while renewables surge

Solar power in Vietnam

August 2019 Fifty-seven per cent of Vietnam’s planned coal power capacity has faced repeated delay, with postponements to 93% of the projects financed by private, often foreign investors, under the “build-operate-transfer” model. Across the projects, investors are struggling with a cumulative delay of 100 years. Meanwhile, approved solar and wind … Read More