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banks
Increased coal and gas lending as Westpac approaches policy due date
[cs_content][cs_element_section _id="1" ][cs_element_layout_row _id="2" ][cs_element_layout_column _id="3" ][cs_text]5 March 2020 Australia has faced years of worsening bushfires, storms and drought since Westpac last announced a climate policy. This policy is...
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...
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...
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...
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...
Take Action: HSBC violates its coal mining policy to fund Adani Carmichael
[cs_content][cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ][cs_text]23 August 2019 Over 55 major corporations, from banking and insurance to engineering and construction, have ruled out working on the disastrous Adani Carmichael coal...
Macquarie’s slow progress leaves room for gas expansion
25 July 2019 Macquarie Group’s annual general meeting today saw the company face community and shareholder backlash over its advisory role on the huge Rio Grande liquefied natural gas (LNG) project in the United States. While Macquarie has made some good progress on...
Non, merci! Rothschild & Co. walks away from Adani
16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed...
NAB hauled over the coals at its 2018 AGM
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.