15 September 2015 An article written by Clancy Yeates in yesterday’s Sydney Morning Herald highlighted the significant financial and reputational risks that fossil fuel assets pose to banks, and questioned whether NAB and CommBank’s recent moves to distance themselves...
Blog
First State Super joins divestment party
12 September 2015 So First State Super has joined the divestment party, albeit turning up with warm VB rather than the ice cold microbrew we were hoping for. On Wednesday evening, the fund advised its members that it would be divesting from fossil fuels in its...
When NAB ruled out funding Carmichael coal…
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Commonwealth pulls out of Carmichael mega-mine
6 August 2015 After months of sustained community pressure, Commonwealth Bank has ended its role as advisor to Adani's Carmichael coal project. Fairfax last night reported that the bank cited environmental factors and financial risks as the reasons for breaking ties...
Stephen moves his home loan
5 August 2015 After living in Melbourne for many years, Stephen and his family decided to move to country Victoria in pursuit of a more sustainable lifestyle. They bought an existing house that was relocated to their property and undertook a significant DIY...
Compare Banks postcard
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Fracking Finance
'Fracking Finance' details the dangers that unconventional gas extraction methods, such as fracking, pose to our land, water and communities. This Market Forces report also examines which financial institutions are supporting the biggest players in Australia's coal...
Renewable energy roadblocks sending investment offshore
20 July 2015 In today's Australian Financial Review, NAB has vowed to continue lending to renewable energy projects despite the Australian government's clear aversion to the sector, with a reported $1.6 billion worth of commitments to future projects globally. NAB has...
Australian LNG projects: the next stranded assets?
9 July 2015 For years, Australia has harboured dreams of being a big player in the liquefied natural gas (LNG) industry. Former Energy and Resources Minister (and now, conveniently, Chairman of the Australian Petroleum Production & Exploration Association Advisory...
Revealed: billions loaned to fossil fuels by the big banks
18 June 2015 Since 2008, Australia's big four banks (ANZ, Commonwealth, NAB and Westpac) have loaned $36.7 billion to the fossil fuel industry in Australia, and were involved in three-quarters of all deals to fossil fuel projects and companies over the same time...