Wednesday, 27 September 2023 Ahead of TotalEnergies’ Investor Day in France, Australian banks ANZ and NAB and Japanese banks MUFG, SMBC, and Mizuho received letters from Market Forces, Jubilee Australia and Papua New Guinean civil society organisation CELCOR (Center for Environmental Law and Community Rights Inc.) calling on the banks … Read More
CommBank’s climate policy update leaves ANZ, NAB and Westpac in the dust
9 August 2023 This morning Commonwealth Bank announced a host of new fossil fuel finance restrictions, bringing Australia’s biggest bank closer to alignment with its commitments to the goals of the Paris Agreement and net zero emissions by 2050. Announcing a series of firsts for a major Australian bank, these … Read More
Big four banks loan $10.7 billion to coal since Paris Agreement
10 May 2023 Market Forces’ new analysis shows Australia’s big four banks – ANZ, Commonwealth Bank, NAB and Westpac – have loaned a combined $10.7 billion to the coal industry since the Paris Agreement was signed, with ANZ ($3.6 billion) and NAB ($3.3 billion) the worst offenders. In recent years, … Read More
Australia’s big four banks face human rights complaint over Santos Barossa financing
5 April 2023 Tiwi Islands and Larrakia Traditional Owners have lodged formal complaints alleging the big four Australian banks – ANZ, Commonwealth Bank, NAB and Westpac – and a host of international financiers breached their human rights commitments by participating in a $1.5 billion loan to Santos, related to the … Read More
Fake dead dolphins delivered to big four banks over Santos oil disaster
MEDIA RELEASE Thursday 23 February 2023: The big four Australian banks – ANZ, Commonwealth Bank, NAB and Westpac – have received a special delivery of ‘dead’ inflatable dolphins for financing oil and gas giant Santos, which allegedly killed marine life in a major oil spill. The dolphins are being delivered … Read More
ANZ pulls the wool over investors eyes on climate at 2022 AGM
15 December 2022 Just over 8% of shareholders voted in favour of a formal proposal calling on the bank to demonstrate how its funding would not be used for new fossil fuel projects at today’s annual general meeting. Last month, a UN High-level Expert Group confirmed what many experts have … Read More
ANZ missing its own climate mark
ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure. In FY22, ANZ increased its exposure to upstream oil and gas extraction, … Read More
Were your retirement savings used to block climate action?
18 October 2022 Last Wednesday was a very sad day for climate action. Almost 95% of Commonwealth Bank’s shareholders – including our super funds – voted against a critical request for the bank to stop financing new and expansionary fossil fuel projects. We’re devastated at this abject failure by big … Read More
Big four Australian banks face shareholder climate backlash at AGMs
MEDIA RELEASE Tuesday 11 October 2022: Shareholder resolutions have been lodged with ANZ, NAB and Westpac calling on the banks to stop financing coal, oil and gas expansion. The resolutions, lodged by hundreds of shareholders and coordinated by environmental finance organisation Market Forces, follow one that will go to a … Read More
Santos sanctions another new project incompatible with 1.5°C
17 August 2022 Australia’s second biggest oil and gas producer, Santos, has today announced a final investment decision on the new Pikka Phase 1 oil project in Alaska. The decision comes despite the International Energy Agency’s warning that no new oil fields should be developed beyond those approved as of … Read More