By Kyle Robertson, Senior Banks Analyst, Market Forces. Macquarie Bank has sent shockwaves around the world quietly announcing it has quit the Net Zero Banking Alliance (NZBA) this week, taking the dubious honour of being the first major Australian financial...
Macquarie
Retail banks in Australia ‘burning our future’: pour $74 billion into fossil fuels
Tuesday 11 February: New Market Forces analysis finds 10 retail banks in Australia committed AU $74.4 billion in finance to fossil fuel companies around the world in 2023. The new report - The Dirty Ten: Banks in Australia still backing fossil fuels - also finds that...
Macquarie’s oil and gas lending brings its net zero commitments under fire
Macquarie, Australia’s fifth largest bank, faced questioning from Market Forces over inconsistencies between its oil and gas investments and its commitment to net zero emissions by 2050 at its 2024 Annual General Meeting in Sydney. As a Net Zero Banking Alliance...
New Hope Corporation doubles down on coal during farcical 2021 AGM
19 November 2021 Coal miner New Hope Corporation’s 2021 AGM descended into farce yesterday, with technology issues compounding upon the company’s evasive approach to shareholder accountability. Despite this, New Hope’s board still found time to double-down on...
Macquarie fails to rule out funding fossil fuel projects incompatible with net zero
29 July 2021 Major Australian financial institution Macquarie was today challenged by shareholders and communities over its support for the oil and gas industry, and inconsistencies between this support and its commitment to net zero emissions by 2050. Just weeks...
ASIC investigation requested into New Hope statements
21 July 2021 Australian coal company New Hope has a track-record of dodging questions about the material financial risks to its business from climate change. That’s why this week EDO Australia, on behalf of Market Forces, wrote to the Australian Securities and...
Woah big spender! New Hope splashes out promoting climate-wrecking coal
11 June 2021 Data released last month shows that coal company New Hope splurged over $650,000 on the 2020 Queensland election, ranking fourth on a ‘big spenders’ list headed by Clive Palmer’s Mineralogy Pty Ltd [1]. The bulk of the company’s expenditure was on...
Macquarie fails to commit to coal and gas phase outs
30 July 2020 Major Australian financial institution Macquarie was today challenged over its involvement in the coal and gas industries, and the risks this poses to shareholders, communities and the environment. Macquarie claims its "lending exposures to [the coal]...
Do you own a piece of these dirty fossil fuel projects?
[cs_content][cs_section parallax="false" separator_top_type="none" separator_top_height="50px" separator_top_inset="0px" separator_top_angle_point="50" separator_bottom_type="none" separator_bottom_height="50px" separator_bottom_inset="0px"...
Who’s coming clean on climate risk?
[cs_content][cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ][cs_text _order="0"]10 September 2018 If you've been following our work closely over the last couple of years, you'll know we've put a lot of effort into forcing companies to...