In-short: Westpac’s new climate plan, released late last week, is a massive backpedal on its previous position and puts it more on par with perennial climate laggard, ANZ. Westpac formerly had a clear requirement for oil and gas clients to produce a 1.5°C-aligned...
Paris Agreement
NZBA waters down ambition amid worsening outlook
This week the United Nations-convened Net Zero Banking Alliance (NZBA) overwhelmingly voted in favour of abandoning its commitment to “transition all…attributable GHG emissions from our lending and investment portfolios to align with pathways to net-zero by...
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...
Scientists call on ANZ to listen to science and stop banking new fossil fuels
Thursday 19 December: Climate change scientists have backed hundreds of shareholders demanding ANZ and all big four Australian banks meet their climate commitments by ending finance for companies developing new and expanded fossil fuel projects. The calls by...
Emergency Leaders, shareholders call on big four banks to end finance for new fossil fuels
Friday 13 December: Emergency Leaders have joined bushfire survivors and hundreds of shareholders calling on the big four Australian banks to end finance for companies expanding coal, oil and gas production. The calls by Emergency Leaders for Climate Action come as...
Shareholders file first ever climate resolution on Australian gas pipeline company
MEDIA RELEASE Wednesday 21 August: Market Forces has filed a resolution on behalf of 128 APA Group shareholders calling on the company to disclose how it is managing the emissions from new gas infrastructure, including planned Beetaloo basin pipelines, in line with...
Breaking: CommBank formally walks away from climate wrecking clients
While ANZ, NAB and Westpac gear up to loan hundreds of millions more to one of Australia’s most notorious climate wreckers Australia’s largest bank, the Commonwealth Bank of Australia, made a huge announcement this morning, declaring it has made the decision to...
NAB responds to shareholder warning on fossil fuel funding
NAB’s update is welcome progress but still falls short of alignment with the bank’s climate commitments.
ANZ rules out Papua LNG, leaves the door open to fund climate wrecking companies
This week ANZ announced that it would no longer provide direct financing to new or expanded oil and gas fields, new liquefied natural gas (LNG) export plants, and won’t bank any oil and gas company not already on their books. The announcement means that all big four...
Big coalition of civil society organisations put AustralianSuper on notice
Today, AustralianSuper received a strong message from a big coalition of climate, environment and other civil society organisations, urging the fund to live up to its climate commitments and push for an end to Woodside’s reckless oil and gas expansion plans. The...