Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and...
NAB
Our Future: clean energy a test for banks’ rehabilitation
Today’s release of the Royal Commission’s report into the financial services industry will chronicle the recent misconduct of the major banks and plot a course for how the industry can restore some integrity. It’s going to be a long road back, but one opportunity for redemption comes in the role banks can play reshaping our energy landscape.Â
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...
NAB hauled over the coals at its 2018 AGM
NAB was forced to lay bare its contradictory climate and environmental, social and governance (ESG) policies highlighting the vast discrepancy between what the bank says, and what it does during question-time at its annual general meeting (AGM) in Melbourne.
CommBank and NAB fund massive new LNG terminal despite 2°C commitments
8 June 2018 Last week we released our Banks 2° Scorecard 2018, an updated account of how the actions of Australia’s big four banks are tracking (or not) to their stated support of the Paris Agreement goal to limit global warming to well below 2°C, compared with...
Banks 2° Scorecard 2018 update
ANZ finance the purchase of Rio’s last coal mine
5 April 2018 ANZ has contributed to a US$1.7 billion (AU$2.2 b) deal to finance the purchase of Rio Tinto's last coal asset by Indonesian coal miner Adaro Energy and private equity manager EMR Capital. The deal comes despite ANZ's repeated claims that the...
Australian bank policies still lag international peers
[cs_content][cs_element_section _id="1" ][cs_element_layout_row _id="2" ][cs_element_layout_column _id="3" ][cs_element_gap _id="4" ][cs_text]This content was published in March 2018. For the most recent version, click the button below to see our Funding climate...
NAB confirms thermal coal ban at AGM
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NAB rules out new thermal coal
[cs_content][cs_element_section _id="1"][cs_element_row _id="2"][cs_element_column _id="3"][cs_text _order="0"]NAB has become the first of Australia’s big four banks to rule out lending to all new thermal coal mines or extensions! The bank’s updated risk appetite...