26 November 2021 ANZ today updated its climate policy, which fails to prevent the bank funding new oil and gas projects and the companies pursuing them. This is despite the IEA concluding there is no room for new fossil fuel supply projects to achieve net-zero...
oil and gas
NAB arranging funds for Origin Energy despite new climate policy
15 November 2021 Just days after releasing a new “transition-focused” oil and gas policy, it has been revealed that NAB is co-arranging a A$2.4 billion loan for Origin Energy. Origin Energy is pursuing gas drilling in the Beetaloo Basin, which would emit up to 1.35...
Spread the word about Commbank’s dirty fossil fuel funding
13 October 2021 Commonwealth Bank shareholders today gathered at the company’s virtual annual general meeting (AGM), where they held the bank to account for all manner of issues, key among which is Commbank’s continued heavy financing for dirty fossil fuels. In fact,...
Tell Commbank: net-zero by 2050 = no new fossil fuels
13 October 2021 Post a message on Commbank’s social media! Commonwealth Bank shareholders are today gathering at the company’s virtual annual general meeting (AGM), where they’ll hold the bank to account for all manner of issues, key among which is Commbank’s...
QBE kicks climate can down the road & keeps supporting oil and gas expansions despite massive loss
19 February 2021 Together with the announcement of a massive A$2b loss due in part to ever-worsening extreme weather, fuelled by the burning of oil and gas, QBE’s updated Environmental and Social Risk Framework, released today, includes oil and gas targets which...
Investors rebuke NAB over fossil fuel funding at AGM, despite government threats
18 December 2020 As members of the Australian government seek to launch a probe into the legality of banks divesting from fossil fuels, NAB’s annual shareholder meeting saw its investors push for the bank to further limit funding in line with the Paris Agreement. In...
NAB confirms it will update stance on polluting oil and gas
11 November 2020 Today NAB released its sustainability report, failing to take the minimum steps needed now to align the bank's finance activity with the Paris Agreement, while confirming it will update its stance on funding the dirty oil and gas sector by next year....
ANZ commits to exit thermal coal, but rewards climate-destructive companies
29 October 2020 ANZ’s updated fossil fuel policy, released today, signalled an end to the bank’s involvement in thermal coal, but rewards the most climate-destructive companies and fails to move the needle on oil and gas. In its latest policy update, the bank has said...
NAB to review oil & gas policy after competitors commit to tighten lending to the sector
14 September 2020 NAB has announced it will review its policy relating to finance for oil & gas within the next 6-12 months. The bank’s CEO Ross McEwan disclosed NAB’s intentions on Friday afternoon as part of a House of Representatives Economics Committee...
Suncorp out of oil and gas drilling, leaving QBE isolated
21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government's gas expansion plans, with an updated policy released today that bans the company from investing in, financing and insuring new and additional oil and gas exploration...