As you read this, Westpac is rewriting its climate change policy. And it clearly needs an upgrade. Shareholders have a powerful voice and you can use this form to contact the head of Westpac’s investor relations now. Tell Westpac to set a policy that aligns with keeping global warming below … Read More
Bushfire survivors call on banks to stop funding climate crisis
20 March 2020 Today, anyone leafing through the pages of the Australian Financial Review can’t have missed this powerful ad on page 15: The Bushfire Survivors for Climate Action group has sent an open letter to the major Australian banks calling on them to stop funding new fossil fuel projects … Read More
Massive Sydney mural targets Westpac’s inadequate climate policies
9 March 2020 Market Forces has put up a powerful, 8 metre high mural on Sydney’s Elizabeth St in Surry Hills, targetting Westpac for its funding of coal, oil and gas projects, the industries most responsible for fueling the climate crisis and worsening bushfires. Since committing to the goals of … Read More
Massive Sydney mural targets Westpac’s inadequate climate policies
9 March 2020 Market Forces has put up a powerful, 8 metre high mural on Sydney’s Elizabeth St in Surry Hills, targetting Westpac for its funding of coal, oil and gas projects, the industries most responsible for fueling the climate crisis and worsening bushfires. Since committing to the goals of … Read More
Australia’s major banks keep on fueling the climate crisis
7 March 2020 The latest data on bank lending to fossil fuels over the last four years shows that Australia’s major banks continue to undermine the Paris Agreement and global action on the climate crisis by lending to dirty fossil fuels. Westpac, Commbank, ANZ and NAB collectively poured a massive … Read More
Increased coal and gas lending as Westpac approaches policy due date
5 March 2020 Australia has faced years of worsening bushfires, storms and drought since Westpac last announced a climate policy. This policy is obviously inadequate as the bank has sunk $5.4 billion into fossil fuels, including $846 million to projects that expand the scale of the industry, since it pledged … Read More
ANZ grilled on climate inaction and secret coal plan
17 December 2019 Coal lending was on the agenda two weeks before ANZ’s annual shareholder meeting in Brisbane today, as revelations hit the news that ANZ had a secret plan to slash its thermal coal mining loans by 75% (representing more than $700 million) by 2024. The secrecy of the … Read More
NAB climate commitments too little, too late
15 November 2019 NAB’s sustainability report, released today, signaled an end to the bank’s involvement in thermal coal mining, but places its exit far later than what is needed to help meet the Paris Agreement climate goals. The commitment to be out of thermal coal by 2035 is five years … Read More
Increased fossil fuel lending out of line with Westpac’s climate commitments
8 November 2019 There is a clear disconnect between Westpac’s pledge to help curb the climate crisis and their subsequent decision to increase lending to fossil fuel projects. Though Westpac’s exposure to fossil fuels may have decreased from one September to the next, this does not capture the full extent … Read More
Getting out of coal can’t save CommBank scrutiny at its AGM
16 October 2019 In August, Commonwealth Bank took a major step forward when it committed to get out of thermal coal by 2030, a commitment that no other major bank has so far made. Today, shareholders showed their appreciation for this commitment, but quickly moved to hold the bank to … Read More