Sydney Airport – ‘still above water so we’re in good shape’

‘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 for this, and … 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

ANZ doesn’t intend for coal exposure to increase

19 December 2017 Climate change was a popular topic at ANZ’s annual general meeting (AGM) today in Sydney. Even before the meeting started, shareholders were greeted by Santa and some elves, who were handing out fliers highlighting ANZ’s fossil fuel lending. Inside the meeting Chairman David Gonski addressed the issue … Read More

Westpac rules out Abbot Point terminal

8 December 2017 Westpac today all but confirmed it would not refinance the Abbot Point coal terminal, striking another blow to the crippled Adani coal mine. Climate related questions dominated the opening of question time at the bank’s annual general meeting in Sydney, revealing a lack of awareness around its … Read More

Embassy confirms: no Chinese money for Adani

6 December 2017 In a massive blow for both the Adani company and the Australian Government, the Chinese embassy has confirmed that no Chinese money will be invested in Adani’s Carmichael coal project. China’s rejection of Adani comes despite Deputy Primer Minister Barnaby Joyce and Trade Minister Steve Ciobo making … Read More

Chinese banks rule out Carmichael coal mine!

Most Australians won’t know about the Industrial and Commercial Bank of China, Bank of China or China Construction Bank. They are massive – among the biggest commercial banks in the world by assets.  All three banks are also current lenders to China Machinery Engineering Corporation, the company Adani has been … Read More