Westpac: a laggard on climate change

12 December 2019 Westpac’s board knew they would be facing fired-up shareholders at today’s annual general meeting (AGM) but perhaps weren’t prepared to bear the weight of responsibility for the impacts on communities and customers fighting the climate crisis.  Amid its recent scandals, the board was forced to address the … Read More

Our Future: clean energy a test for banks’ rehabilitation

Today’s release of the Royal Commission’s report into the financial services industry will chronicle the recent misconduct of the major banks and plot a course for how the industry can restore some integrity. It’s going to be a long road back, but one opportunity for redemption comes in the role banks can play reshaping our energy landscape. 

Big four banks increase their fossil fuel exposure

January 2019 Australia’s major banks have been getting back into fossil fuels over the last year, casting doubt on their seriousness in tackling climate change through their investments. This study compares the banks’ reported exposures to fossil fuels and renewable energy from 2017 to 2018, finding some very worrying trends. … Read More

Westpac makes no apology for continuing to back dirty coal

12 December 2018 Westpac’s hypocrisy – their statements on climate against the reality of their loan book – was a major theme at the big four bank’s annual general meeting today in Perth. And despite supporting the 2015 Paris climate agreement Westpac’s board made no apology for continuing to lend … Read More

Do you own a piece of these dirty fossil fuel projects?

Is this your dirty fossil fuel project?

Super funds invest our retirement nest eggs in major infrastructure projects and assets, not just companies. This means you are likely to own a piece of some of the biggest, dirtiest fossil fuels projects on the planet. Market Forces has found widespread investment in fossil fuel infrastructure among Australia’s 50 … Read More