NAB was forced to lay bare its contradictory climate and environmental, social and governance (ESG) policies highlighting the vast discrepancy between what the bank says, and what it does during question-time at its annual general meeting (AGM) in Melbourne.
Bendigo & Adelaide customers in drought, bank still won’t spell it out
30 October 2016 Bendigo and Adelaide Bank is the fifth largest retail bank in Australia and among the top 100 ASX-listed companies. They have a fairly clean record when it comes to fossil fuel investments as they don’t lend to projects in the coal and coal seam gas sectors. But … Read More
WIN! Standard Chartered rules out new coal…. everywhere!
25 September 2018 Standard Chartered bank today updated its policy on lending to power generation, ruling out new coal power plants anywhere in the world. It confirmed the bank would no longer directly finance “any new coal-fired power plant projects, including expansions, in any location”. This marks a massive shift … Read More
Market Forces files complaint over Japanese banks’ coal lending breach of OECD guidelines
18 September 2018 Market Forces has made complaints against Sumitomo Mitsui Banking Corporation (SMBC), Mizuho Financial Group (Mizuho) and Mitsubishi UFJ Financial Group, Inc. (MUFG) to the Japanese National Contact Point (NCP) today. The complaint alleges that the three banks have breached the OECD Guidelines for Multinational Enterprises (OECD Guidelines) through their conduct … Read More
Ad urging Standard Chartered to stop funding dirty coal published across Asia
23 August 2018 Today, with the help of community donors and partner organisations, Market Forces published a full-page advertisement in the Financial Times Asia, urging Standard Chartered Bank to stop funding new coal-fired power plants. Click here to email Standard Chartered urging them to stop lending money to new coal Copies … Read More
Sydney Airport – “still above water so we’re in good shape”
25 May 2018 “According to Coastal Risk Australia, sea level rise is expected to flood parts of the Sydney Airport runway. This flooding occurs even in the low scenario, where the expectation is that there would be a worldwide reduction in global emissions. What current modelling is our company using … Read More
Australian bank policies still lag international peers
The fossil fuel lending policies of Australia’s big four banks have once again been found to fall short of international expectations. In the latest Banking on Climate Change Fossil Fuel Finance Report Card, only NAB’s coal mining policy, announced last year, scored higher than a C-. While it’s worth acknowledging … Read More
Media release: Singaporean banks blowing smoke on climate
A new analysis from environmental finance group Market Forces shines a light for the first time on Singaporean banks’ continued funding of the coal industry, despite public pronouncements on climate action. Market Forces analysed data relating to the lending activity of Singapore’s big three banks, Oversea-Chinese Banking Corporation (OCBC), DBS … Read More
Adani unravels and major institutions dump coal. This was 2017.
In the nearly five years since Market Forces began, there has not been a more successful and fast-changing year as 2017. Let’s take a look at the year that is rapidly coming to an end. A big thank you to all our supporters who took part in our campaigns and … Read More