Media release: Fossil fuel lending by Australian banks tops AU$35bn

New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More

Too little, too late: NAB’s new climate policy an exercise in greenwash

15 November 2019: NAB’s Sustainability Report, released today, is little more than greenwash and a recipe for climate catastrophe, says environmental finance group Market Forces.  In particular, its central announcement to exit thermal coal mining by 2035 is a clear example of too little too late, falling short of time … 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