14 December 2017 NAB’s new coal mining risk appetite statement goes further than any other major Australian bank by ruling out lending to new thermal coal mines or extensions, according to environmental finance advocates Market Forces. “NAB has lifted the bar above...
NAB
NAB boosts renewables, but fails to limit fossil fuel funding
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Big banks still nearly $30 billion exposed to coal, oil and gas extraction
All four of Australia's major retail banks have now reported their 2017 full year results and it is clear they are still heavily invested in fossil fuels. Collectively, ANZ, Commonwealth Bank, NAB and Westpac are exposed to coal mining and oil & gas extraction to...
Big banks still supporting Whitehaven’s dirty coal operations
Whitehaven Coal's Maules Creek mine was recently upgraded to the EPA's highest environmental risk category, making it one of NSW's three dirtiest mines. The company is also planning to expand its Vickery coal mine, which the local community is resisting due to grave...
Tell the big banks: Don’t cave on dirty coal finance!
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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...
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...
CommBank’s climate fail
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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...
Big banks loaned $10 billion to fossil fuels in 2016
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