30 April 2017 The most immediate impact of Westpac’s climate change policy announcement on Friday was that it took them out of the running as a potential lender to the Adani Carmichael coal mine, making Westpac the 19th bank to either distance itself publicly from Galilee Basin coal export projects, … Read More
Westpac’s new climate policy rules out most new coal mines – including Carmichael!
28 April 2017 After years of pressure from customers, shareholders, environmental groups and the broader community, Westpac has just become the 19th bank around the world to either distance themselves from Galilee Basin coal export projects, or bring in a policy that prohibits lending to new coal mines like Adani’s. … Read More
Media Release: Westpac’s coal exclusion means no funding to Adani coal mine
Brisbane, 28 April 2017 Environmental finance campaigning organisation Market Forces has welcomed the climate change policy update released by Westpac today, which makes the bank the latest to rule out funding Adani’s Carmichael coal mine. The policy tightens the criteria for Westpac’s funding of new thermal coal mines, meaning the bank will … Read More
Westpac’s marketing made a little bit more honest
29 January 2016 After years of heavy lending to new fossil fuel projects, and being the only “big four” bank to have failed to distance itself from the proposed Adani Carmichael mega coal mine, we decided it was about time the bank’s marketing caught up with the reality of their … Read More
Commbank’s climate credentials don’t make it through Paris
7 December 2015 Well that was short lived! A month ago we were celebrating Commonwealth Bank’s new Group Environment Policy committing the bank to the goal of limiting global warming to less than two degrees. For a moment, it looked like Commbank really got the issue of climate change and were even sticking their necks out … Read More