Cooper Energy: receiving funding from ANZ

At the Cooper Energy annual general meeting board members asserted they were conscious of environmental impacts, however they were unable to give specific details about their plans as they weren’t yet formulated. Managing Director, David Maxwell, also announced a drastic change in the company’s asset portfolio from 100% crude oil reserves … Read More

Big banks still supporting Whitehaven’s dirty coal operations

Whitehaven Coal’s Maules Creek mine was recently upgraded to the EPA’s highest environmental risk category, making it one of NSW’s three dirtiest mines. The company is also planning to expand its Vickery coal mine, which the local community is resisting due to grave concerns over environmental impacts. Despite Whitehaven’s appalling … Read More

Tell the big banks: Don’t cave on dirty coal finance!

18 September, 2017 News this morning has highlighted the utter lunacy of the current state of the energy ‘debate’ in Australia, with Trevor St Baker, Chairman of Delta Electricity, calling on the government to pressure banks to keep lending to dirty power stations like the ones he owns. We need … Read More

Two degrees scorecard update

In December 2015, the Paris climate talks saw 195 nations agree to limit global warming to well below 2°C, compared with pre-industrial levels. In the lead up to Paris, ANZ, CommBank, NAB and Westpac all publicly championed the two degree limit, committing to support the transition to a low carbon … Read More

Big 4 STILL financing fossil fuel expansion

On 22 June 2017, some 18 months after committing to support the aims of the Paris Agreement, Australia’s big four banks all contributed to a deal to finance more oil and gas exploration and production. Clearly, ANZ, CommBank, NAB and Westpac are yet to come to terms with exactly what … Read More

CommBank’s climate fail

Commonwealth Bank has been given FAIL grades in all four categories of a new study into international banks’ fossil fuel lending policies. With no publicly disclosed policies to restrict coal mining, coal power, LNG exports or extreme oil, Commonwealth Bank found itself at the bottom of a pile of 37 … Read More

Big banks loaned $10 billion to fossil fuels in 2016

6 March 2017 2016 was the first full year after the Paris agreement was signed, and since Australia’s big banks all committed to support the goal of holding global warming to well below 2ºC. So, how exactly did the banks go about backing up their 2°C commitments last year? Well, … Read More

ANZ’s coal policy. Weak, but at least effective!

28 February 2017 In October 2015, ANZ published a new Energy Policy with a carbon emission threshold to “ensure we only support new coal fired power plants that use advanced technologies and higher quality coal to significantly reduce emissions to at least 0.8 tC02/MWh”. Two months later, it was announced that … Read More