Monday 24 July, 2017: New analysis from environmental finance group Market Forces today reveals Australia’s Big Four banks have lent $17 billion dollars to expand the fossil fuel industry since declaring their commitment to the Paris Climate Agreement of keeping the world well below two degrees warming. The projects financed equate to … Read More
Sino Gas: climate change not a business risk
18 May 2017 Sino Gas is a small Australian owned unconventional gas company which operates in China. Despite the known risks to land, water and human health associated with fracking, the Macquarie Bank has lent to Sino Gas, as have other international banks. Sino Gas held their annual general meeting … Read More
Woodside AGM: More Oil & Gas = More Emissions
5 May 2017 Australia’s largest listed oil and gas producer, Woodside Petroleum, held their Annual General Meeting in Perth today, where chairman Michael Chaney made quite possibly the clearest case for reducing carbon emissions. Woodside is Australia’s tenth largest carbon emitter, responsible for over 10 million tonnes of CO2 equivalent … Read More
Westpac Carmichael announcement a boost for customers
5 May 2017 A new survey shows that for every Australian that disapproves of Westpac’s policy change that rules out finance for the Carmichael coal mine, three others approve. It also turns out that ruling out Carmichael finance could gain Westpac more customers than they are at risk of losing, making … Read More
QBE supporting Adani!
At their annual general meeting in Sydney, QBE revealed that even though it has not yet been approached to underwrite the Carmichael mega mine, it has an ongoing relationship with the mine’s owner, Adani. The insurer, which operates globally and is a major underwriter of fossil fuel infrastructure, supports Adani’s … Read More
Analysis: Westpac’s new climate change policy
30 April 2017 The most immediate impact of Westpac’s climate change policy announcement on Friday was that it took them out of the running as a potential lender to the Adani Carmichael coal mine, making Westpac the 19th bank to either distance itself publicly from Galilee Basin coal export projects, … Read More
Westpac’s new climate policy rules out most new coal mines – including Carmichael!
28 April 2017 After years of pressure from customers, shareholders, environmental groups and the broader community, Westpac has just become the 19th bank around the world to either distance themselves from Galilee Basin coal export projects, or bring in a policy that prohibits lending to new coal mines like Adani’s. … Read More
Media Release: Westpac’s coal exclusion means no funding to Adani coal mine
Brisbane, 28 April 2017 Environmental finance campaigning organisation Market Forces has welcomed the climate change policy update released by Westpac today, which makes the bank the latest to rule out funding Adani’s Carmichael coal mine. The policy tightens the criteria for Westpac’s funding of new thermal coal mines, meaning the bank will … Read More
Media Release: Australia’s banks’ $10 billion fossil fuel funding flouts climate pledges
Australia’s banks’ $10 billion fossil fuel funding flouts climate pledges MONDAY 6 MARCH, 2017: New analysis by finance group Market Forces reveals Australia’s ‘big four’ provided almost $10 billion in finance to fossil fuels across the planet in 2016 – three and a half times the amount invested in clean … Read More
Westpac tests the patience of ethical investors
9 December 2016 Westpac’s ‘clean and green’ image was shattered today at their Annual General Meeting (AGM) in Adelaide. It started outside the venue where a group of young people presented Westpac with a ‘climate hypocrite’ award for their bankrolling of dirty fossil fuel projects. The world famous fish ‘Nemo’ … Read More
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