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
Repeat offenders NAB, ANZ and Westpac bankrolling “bet against the Paris Agreement”
NAB, ANZ and Westpac are among 18 global banks that have loaned1 to a gas processing facility that paves the way for a carbon bomb at the scale of 15 coal power stations. The banks—including Japanese megabanks Mizuho, MUFG and SMBC, UK’s HSBC and Standard Chartered, and Bank of China—have … 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
ANZ, NAB and Westpac face climate change shareholder resolutions at AGMs
7 October 2021 Banks called out over their failure to align policy and financing with net-zero by 2050 commitments. Shareholder resolutions have today been lodged with ANZ, NAB and Westpac calling on the banks to end the billions of dollars of finance which continue to be poured into companies and … Read More
NAB and Westpac: Stop funding Whitehaven Coal!
15 September 2021 The federal Environment Minister has just signed-off approval for Whitehaven’s climate-wrecking Vickery coal mine. But Whitehaven still needs to find enough money to match the mine’s $600 million price-tag. Despite stating their support for the Paris Agreement, NAB and Westpac loaned a combined $220 million to Whitehaven … Read More
Coal affair sinks Mark Vaile’s uni application
23 June 2021 Thanks to an enormous backlash from students, staff, alumni, donors and the NTEU, former Deputy Prime Minister and chairman of Whitehaven Coal Mark Vaile decided to walk away from his appointment as the next chancellor of Newcastle University [1]. Vaile’s decision underscores that associating with the climate-wrecking … Read More
Spotlight on big banks after landmark court decision
28 May 2021 In a landmark judgment yesterday about Whitehaven’s proposed Vickery coal mine, Australia’s Federal Court decided that the national environment minister has a duty of care not to cause harm to young people from climate change. According to Ava Princi, one of the eight school students who brought … Read More
APLNG seeks massive expansion of polluting gas drilling
16 April 2021 Scientists have been clear that meeting the Paris Agreement’s climate goals means no expansion of the polluting gas industry.[1] Yet one of Australia’s largest and most polluting gas export projects, Australia Pacific LNG (APLNG), is seeking approval to drill up to 7,700 new gas wells across central … Read More