About the banks comparison table
Market Forces is about “using your money as a force for good”. With the banks comparison table our aim is to inform people about which banks are investing in the fossil fuel industry and enable individuals to take action, whether it is calling for better action from a bank, or finding an alternative bank that is not financing the coal, oil and gas industries. We’ve covered over 120 banks, mutuals and credit unions in the table and have made it as easy as possible to find information and take action to change your bank’s behaviour, or just change your bank!
We only publish what we know. The table is not intended to be a “ranking”. Rather, it aims to clearly present the information Market Forces has gathered so that people can compare their current bank, credit union or building society’s position on investing in the fossil fuel industry against possible alternatives. The table only deals with the issue of fossil fuel investments, and does not take into account other environmental and social issues.
How we’ve divided up the banks
We’ve sorted the banks and credit unions into two categories, making it easier to search and browse. The tabs at the top of the table allow you find:
- Banks that are invested in the fossil fuels and their subsidiaries
- Banks that have no current record of funding fossil fuels.
The second tab heading (i.e. Banks with no current record of funding fossil fuels) is divided into three sections: 1) Banks with no record of funding fossil fuels and position statement provided; 2) Banks that have previously funded fossil fuels but no longer do; 3) No record of funding fossil fuels but no position statement provided.
The bank comparison table also has an “All Banks A-Z” tab in case you want to search for a bank or credit union alphabetically. This tab also has a search bar.
How we got the figures
All of the figures on loans and investments in the fossil fuel industry have been sourced primarily from finance industry databases including Project Finance International and Reuters Project Finance. Further primary data was sourced from company filings and reports, and finance journal articles. Figures were cross-referenced for consistency and verification against other databases, including Bloomberg and those listed above, and additional media reporting.
All values are expressed in Australian dollars and no adjustments have been made to reflect net present value of facilities arranged in years prior to 2015.
About the statements
Many banks and credit unions in the table did not appear in our research as having funded the fossil fuel industry in recent years. But we don’t take for granted that a bank doesn’t invest in fossil fuels, just because they have not shown up in our research. We asked each bank and credit union that did not appear in our research as having funded the fossil fuel industry the question: “What is your position on investing in the fossil fuel (coal, gas and oil) industry?”.
When we receive a response we publish it verbatim, without editorialising or judging it. The only edits we make are for the sake of brevity to make sure what we publish is the most relevant part of the position they provide. When banks publish the statement on their websites, we provide a link to the full statement.
Did we forget a bank or credit union?
We have done our best to list every Australian bank, credit union and building society but if we missed any please get in touch by email and we will do our best to add them to the table: firstname.lastname@example.org