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Big four banks make strides, but action still dangerously slow in a climate emergency

Big four banks make strides, but action still dangerously slow in a climate emergency

by Kyle Robertson | Nov 16, 2023 | Banks, Blog, Divestment, Feature, Fossil Fuels, News, Santos

16 November 2023 All big four Australian banks have now released updated fossil fuel finance restrictions this year that have, to varying degrees, moved the dial on what they can’t finance going forward.  But, like everything with the banks – the devil is in the...
NAB commits to future fossil finance restrictions, business as usual for next two years

NAB commits to future fossil finance restrictions, business as usual for next two years

by Kyle Robertson | Nov 10, 2023 | Banks, Blog, Divestment, Feature, Fossil Fuels, News, Santos

10 November 2023 Yesterday NAB announced that from 1 October 2025 it will require the majority of fossil fuel companies to have Paris-aligned transition plans in place in order to provide additional lending.  From that deadline, to get a corporate or project...
Westpac takes two steps forward, one big step back

Westpac takes two steps forward, one big step back

by Kyle Robertson | Nov 8, 2023 | Banks, Blog, Divestment, Feature, Fossil Fuels, News, Santos, Woodside

8 November 2023 This week Westpac announced a host of new project finance restrictions for new and expanded fossil fuel projects, but also walked back a key policy that restricts finance to the companies developing them.  In a disappointing regression on its...
CommBank avoids resolution, but warned it’s not off the hook on climate action

CommBank avoids resolution, but warned it’s not off the hook on climate action

by Will van de Pol | Oct 11, 2023 | Blog, Feature, News

11 October 2023 Today, Commonwealth Bank faced questions from shareholders over the remaining gaps in its climate policy. This year, Market Forces, along with hundreds of shareholders decided not to file a resolution on climate-related risk at the CommBank AGM. This...
CommBank’s climate policy update leaves ANZ, NAB and Westpac in the dust

CommBank’s climate policy update leaves ANZ, NAB and Westpac in the dust

by Kyle Robertson | Aug 9, 2023 | Blog, Divestment, Feature, Fossil Fuels, News, Santos

9 August 2023 This morning Commonwealth Bank announced a host of new fossil fuel finance restrictions, bringing Australia’s biggest bank closer to alignment with its commitments to the goals of the Paris Agreement and net zero emissions by 2050. Announcing a series of...
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