Analysis: Westpac’s new climate change policy

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

Big banks loaned $10 billion to fossil fuels in 2016

6 March 2017 2016 was the first full year after the Paris agreement was signed, and since Australia’s big banks all committed to support the goal of holding global warming to well below 2ºC. So, how exactly did the banks go about backing up their 2°C commitments last year? Well, … Read More

Banks fail 2ºC climate test, pour $5.6b into fossil fuels

3 August 2016 Australia’s big four banks have made a mockery of their ‘two degree’ commitments, pouring $5.6 billion into the fossil fuel sector since the December 2015 Paris climate change agreement. Our latest research shows the banks’ have failed to come anywhere close to meeting their commitments to help hold global … Read More

How renewable are the “Big Three” energy retailers?

Figures correct at 30 June, 2016 AGL, Origin Energy and Energy Australia are known as the “big three” electricity companies, dominating the Australian energy retailing industry. While all three claim to be supporters of renewable energy, AGL, Origin and Energy Australia all still rely heavily on fossil fuels for the vast … Read More

Renewables lending plummets as Katter calls for coal funding

4 July 2016 On the same day that Bob Katter demands public money be sunk into the proposed Galilee Basin coal export projects we find that, as of late June 2016, the big four banks’ lending to renewable energy is near record lows. If we had a dollar for every #renewableenergy … Read More