2 November 2020 Westpac’s full year results released today reveal the bank has reduced its exposure to fossil fuel mining and extraction while increasing it to coal and gas-burning power generation over the past year. Westpac’s 2020 Sustainability Performance Report...
Dear companies, your fossil fuel support is a reputational ticking time bomb
24 August 2020 When the response finally came through from engineering consultancy GHD’s Chairman on 5 July 2019, it was fairly typical, “Please contact Adani directly on any matters that may relate to their business activities.” The company that had been providing...
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...
Westpac sets thermal coal exit date, re-commits to Paris alignment
The investors helping Woodside weather one crisis but not the other
28 April 2020 Woodside Energy is Australia’s largest gas producer, with a focus on liquefying and exporting gas, a fossil fuel the use of which cannot be expanded if we’re to limit global warming to 1.5°C. Woodside is headquartered in Western Australia, where most of...
Millions call on Westpac to end funding of fossil fuel expansions
15 April 2020 Market Forces has coordinated a letter signed by 52 organisations representing 4.2 million people from all over the world, calling on new Westpac CEO Peter King to end Westpac's practice of loaning money to expansionary coal, oil and gas projects and...
Westpac heavily favouring fossil fuels over renewables
Westpac Shareholder action
[cs_element_section _id="1" ][cs_element_layout_row _id="2" ][cs_element_layout_column _id="3" ] As you read this, Westpac is rewriting its climate change policy. And it clearly needs an upgrade. Shareholders have a powerful voice and you can use...
Bushfire survivors call on banks to stop funding climate crisis
20 March 2020 Today, anyone leafing through the pages of the Australian Financial Review can’t have missed this powerful ad on page 15: The Bushfire Survivors for Climate Action group has sent an open letter to the major Australian banks calling on them to stop...
Massive Sydney mural targets Westpac’s inadequate climate policies
9 March 2020 Market Forces has put up a powerful, 8 metre high mural on Sydney's Elizabeth St in Surry Hills, targetting Westpac for its funding of coal, oil and gas projects, the industries most responsible for fueling the climate crisis and worsening bushfires. This...