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...
Australia’s major banks keep on fueling the climate crisis
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Increased coal and gas lending as Westpac approaches policy due date
[cs_element_section _id="1" ][cs_element_layout_row _id="2" ][cs_element_layout_column _id="3" ]5 March 2020 Australia has faced years of worsening bushfires, storms and drought since Westpac last announced a climate policy. This policy is...
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. ...
Increased fossil fuel lending out of line with Westpac’s climate commitments
8 November 2019 There is a clear disconnect between Westpac’s pledge to help curb the climate crisis and their subsequent decision to increase lending to fossil fuel projects. Though Westpac’s exposure to fossil fuels may have decreased from one September to the...
Media Release: Three major banks face shareholder resolutions on climate action
Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and...
Take Action: HSBC violates its coal mining policy to fund Adani Carmichael
[cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ]23 August 2019 Over 55 major corporations, from banking and insurance to engineering and construction, have ruled out working on the disastrous Adani Carmichael coal...
Westpac and HSBC violate their coal policies to fund Adani Carmichael
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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...