Media release: Commbank confirms coal exit

Chairperson Catherine Livingstone will use today’s AGM to confirm Commonwealth Bank’s exit from investment in coal. In a statement submitted to the ASX and soon to be delivered at the AGM, Ms Livingstone says “our coal funding is comparatively small and has been trending down for some time. We expect … Read More

Cooper Energy doesn’t think climate is a material business risk

At the Cooper Energy annual general meeting board members confirmed that the company does not classify climate change as a material business risk, and is not willing to adopt the Task Force for Climate Related Financial Disclosures (TCFD). Managing Director, David Maxwell, also announced a drastic change in the company’s … Read More

Two degrees scorecard update

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

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

Big banks loaned $10 billion to fossil fuels in 2016

6 March 2017 2016 was the first full year after the Paris agreement was signed, and since Australia’s big banks all committed to support the goal of holding global warming to well below 2ºC. So, how exactly did the banks go about backing up their 2°C commitments last year? Well, … Read More

Civil society to banks: get off fossil fuels!

15 September 2016 Over 100 civil society organisations and prominent Australians have signed an open letter, published today, that calls on Australia’s major banks to live up to their climate change commitments. The letter, signed by environmental and faith-based groups, unions, artists, writers, academics, health professionals, climate change scientists and … Read More