16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. … Read More
CommBank chair says companies without transition plans by 2025 “un-bankable” at 2022 AGM
12 October 2022 Today, Commonwealth Bank faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. Despite trying to appear to be acting on climate change, the bank and its leadership were … Read More
Spread the word about NAB’s dirty fossil fuel funding
17 December 2021 NAB shareholders are today gathering at the company’s virtual annual general meeting (AGM), where they’ll hold the bank to account for all manner of issues, key among which is NAB’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More
Tell NAB: net-zero by 2050 = no new fossil fuels
17 December 2021 NAB shareholders are today gathering at the company’s virtual annual general meeting (AGM), where they’ll hold the bank to account for all manner of issues, key among which is NAB’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More
NAB fails to defend funding for destructive fossil fuel companies
17 December 2021 NAB has been lending heavily for projects and companies expanding the fossil fuel industry. As such, the bank today faced a formal proposal from shareholders telling it to stop funding new coal, oil and gas projects. NAB also faced a bombardment of questions from stakeholders concerned over … Read More
Commonwealth Bank rebuked over fossil fuel funding at AGM
13 October 2021 As the International Energy Agency (IEA) prepares to publish the most detailed account of its Net Zero Emissions by 2050 scenario—in which there’s no room for expansion of the fossil fuel industry—Commonwealth Bank’s annual shareholder meeting saw its investors push for the bank to limit fossil fuel … Read More
Tell Commbank: net-zero by 2050 = no new fossil fuels
13 October 2021 Commonwealth Bank shareholders are today gathering at the company’s virtual annual general meeting (AGM), where they’ll hold the bank to account for all manner of issues, key among which is Commbank’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a … Read More
CommBank waters down funding hurdle for fossil fuel expansion, gives climate-wrecking companies another 4 years
11 August 2021 Despite supporting the Paris Agreement and the goal of net zero by 2050, CommBank’s annual report—released today—watered down an existing (albeit ineffective) barrier to funding expansionary fossil fuel projects, and gave climate-wrecking companies at least another four years to continue with business as usual. The International Energy … Read More
CommBank on its way to thermal coal exit but climate concerns remain
12 August 2020 Today Commonwealth Bank released its 2020 annual report and revealed the extent to which it’s exposed to fossil fuels and how this has changed over the past year. Although the bank seems to be heading in the right direction with respect to thermal coal and gas, the … Read More
Big four banks increase their fossil fuel exposure
January 2019 Australia’s major banks have been getting back into fossil fuels over the last year, casting doubt on their seriousness in tackling climate change through their investments. This study compares the banks’ reported exposures to fossil fuels and renewable energy from 2017 to 2018, finding some very worrying trends. … Read More
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