Westpac, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, revealed an 11% increase in FY22 of its overall exposure to fossil fuels, with the increases attributed to customers in the coal rail transportation, LNG terminal, and oil and gas sectors. Westpac cited that … Read More
Big four Australian banks face shareholder climate backlash at AGMs
MEDIA RELEASE Tuesday 11 October 2022: Shareholder resolutions have been lodged with ANZ, NAB and Westpac calling on the banks to stop financing coal, oil and gas expansion. The resolutions, lodged by hundreds of shareholders and coordinated by environmental finance organisation Market Forces, follow one that will go to a … Read More
Westpac: climate change commitments one week, financing climate-wreckers the next?
2 August 2022 Last week, Westpac announced it was joining the Net-Zero Banking Alliance and made some further climate change commitments that still fail to demonstrably align with the Paris Agreement’s goals. As Westpac made the announcement, another part of the bank was reportedly in talks with Santos, a company … Read More
Westpac slammed over destructive fossil fuel funding at 2021 AGM
15 December 2021 Westpac faced a formal proposal from shareholders that it commit to stop funding new fossil fuel projects at today’s annual general meeting (AGM). The bank’s board also received a barrage of tough questions over its continued funding for companies expanding the fossil fuel industry, including Santos and … Read More
Tell Westpac: net-zero by 2050 = no new fossil fuels
15 December 2021 Westpac 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 Westpac’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More
Spread the word about Westpac’s dirty fossil fuel funding
15 December 2021 Westpac 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 Westpac’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a resolution … Read More