In December 2015, the Paris climate talks saw 195 nations agree to limit global warming to well below 2°C, compared with pre-industrial levels. In the lead up to Paris, ANZ, CommBank, NAB and Westpac all publicly championed the two degree limit, committing to support the transition to a low carbon … Read More
Big 4 STILL financing fossil fuel expansion
On 22 June 2017, some 18 months after committing to support the aims of the Paris Agreement, Australia’s big four banks all contributed to a deal to finance more oil and gas exploration and production. Clearly, ANZ, CommBank, NAB and Westpac are yet to come to terms with exactly what … Read More
CommBank – Last bank standing on Adani?
UPDATE – 11 August 2017: Commonwealth Bank have ruled out financing the Adani Carmichael coal mine! Original post: 3 May 2017 Following the great news that Westpac won’t fund the Adani Carmichael coal mine, attention has now turned to Commonwealth Bank, with the question being asked: will CommBank be the … 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
Devaluing Australians’ property? CommBank CAN.
9 November 2016 In September, it was reported that a Chinchilla couple were denied a $500,000 bridging loan because their property, which was to be security for the loan, was deemed unacceptable for this purpose. The bank said in an email to the couple that “Long form valuation has revealed 4 coal … Read More
Ten dodgy fossil fuel deals hurting the banks
Published: 9 August 2016 Jump to: #1 Wiggins Island (WICET) #2 Peabody Energy #3 Adani Abbot Point #4 Whitehaven Coal #5 Newcastle Coal Port #6 Dalrymple Bay Coal Port #7 Origin – APLNG #8 Santos – GLNG #9 Aurizon #10 Dodgy deal in the pipeline? And one that’s already gone … Read More
Media Release: Australian banks break climate promise, pouring billions into fossil fuels
Melbourne, 4 August 2016 Australia’s major banks have made a mockery of their ‘two degree’ commitments by pouring AU $5.6 billion into the expansion of the fossil fuel industry in the months since the December 2015 Paris climate change agreement. New research released today by financial activist group, Market Forces, … Read More
Banks fail 2ºC climate test, pour $5.6b into fossil fuels
3 August 2016 Australia’s big four banks have made a mockery of their ‘two degree’ commitments, pouring $5.6 billion into the fossil fuel sector since the December 2015 Paris climate change agreement. Our latest research shows the banks’ have failed to come anywhere close to meeting their commitments to help hold global … Read More