NAB fails to address fossil fuel lending loopholes at 2022 AGM

16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. … Read More

NAB gets dangerously close to climate policy breach

NAB, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today released its inaugural Climate Report and once again failed to commit to ruling out financing companies building new fossil fuel projects.  NAB said it will be “considering selectively reducing exposure to high emitting … Read More

Spread the word about NAB’s dirty fossil fuel funding

NAB Logo

17 December 2021 NAB 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 NAB’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More

Tell NAB: net-zero by 2050 = no new fossil fuels

NAB Logo

17 December 2021 NAB 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 NAB’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More

NAB fails to defend funding for destructive fossil fuel companies

NAB agm 2021

17 December 2021 NAB has been lending heavily for projects and companies expanding the fossil fuel industry. As such, the bank today faced a formal proposal from shareholders telling it to stop funding new coal, oil and gas projects. NAB also faced a bombardment of questions from stakeholders concerned over … Read More

NAB to ‘measure itself against’ IEA’s Net Zero by 2050 scenario

10 September 2021 NAB’s key executives appeared yesterday at the Australian Parliament’s Standing Committee on Economics, and addressed the review of the bank’s oil and gas policy—due for release “in the coming months”. While the bank had previously stated it’s “taking into account” the conclusions of the International Energy Agency’s … Read More

Media release: Fossil fuel lending by Australian banks tops AU$35bn

New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More