21 November 2022 An Aware Super member sent a legal letter to the fund last week, raising concerns that Aware failed to understand and properly consider its vote on a crucial request for climate action at the recent Commonwealth Bank annual general meeting and demanding answers from the fund. Aware … Read More
Were your retirement savings used to block climate action?
18 October 2022 Last Wednesday was a very sad day for climate action. Almost 95% of Commonwealth Bank’s shareholders – including our super funds – voted against a critical request for the bank to stop financing new and expansionary fossil fuel projects. We’re devastated at this abject failure by big … Read More
Big four Australian banks face shareholder climate backlash at AGMs
MEDIA RELEASE Tuesday 11 October 2022: Shareholder resolutions have been lodged with ANZ, NAB and Westpac calling on the banks to stop financing coal, oil and gas expansion. The resolutions, lodged by hundreds of shareholders and coordinated by environmental finance organisation Market Forces, follow one that will go to a … Read More
Commonwealth Bank faces shareholder resolution after climate policy leaves door open to fossil fuel expansion
MEDIA RELEASE: Wednesday 10 August 2022 Environmental finance campaigning organisation Market Forces has responded to Commonwealth Bank of Australia’s latest climate report and targets with a shareholder resolution, calling on the bank to ensure its financing no longer enables the expansion of the fossil fuel industry. The Commonwealth Bank (CBA) … Read More
Commbank wants to hear from its customers. Tell the bank: net-zero by 2050 means no new fossil fuels!
Just weeks after Commbank was rebuked over its fossil fuel funding at its annual shareholder meeting,[1] its CEO Matt Comyn has invited customers to “ask questions and share your ideas on ways we can support you, businesses and the community”. Customers can submit their questions online, which will be considered … Read More
Media Release: CommBank to face shareholder resolution over failed climate commitments
Wednesday 11 August 2021 As the IPCC issues a fresh warning of the devastating consequences of the climate crisis and the narrowing window to avoid catastrophe, Commonwealth Bank (CBA) has today released an updated policy which weakens and undermines its own existing climate commitments. As a result, a resolution is … Read More
CommBank fails to gaslight shareholders over its gas lending at 2020 AGM
13 October 2020 Today’s annual general meeting (AGM) heard from Commonwealth Bank shareholders who clearly feel the bank isn’t living up to its climate claims and commitments, especially considering its funding for expansion of the gas industry. Gas lending incompatible with the Paris Agreement In August 2019, CommBank committed to … Read More
Media Release: ANZ, NAB face shareholder resolutions on climate action
ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call for a reduction in exposure to the fossil fuel … Read More
Media release: Fossil fuel lending by Australian banks tops AU$35bn
New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More
Shareholders: help hold CommBank to account
UPDATE 26 June 2020 150 Commonwealth Bank shareholders, led by Guy and Kim Abrahams, have written to the bank, demanding answers over apparent breaches of the bank’s climate policy. Read about the action and CommBank’s initial response here. Original post – 28 May 2020 Commonwealth Bank shareholders are demanding answers … Read More