Posts tagged ‘Westpac’
Our Big 4 Banks still subsidising climate chaos says report
The Banking on Climate Chaos 2023 report has been published and shows the big 4 Australian Banks: the Commonwealth Bank, ANZ Bank, NAB Bank and Westpac Bank are continuing to approve loans for fossil fuel expansion. Climate Action Merribek was one of many civil society organisations that endorsed this report.
In the league table of worst banks globally for financing fossil fuels, ANZ ranks no 44, Westpac 53, Commonwealth 54, and NAB 56.
All 4 banks have set net-zero 2050 climate targets, but given continued financing of fossil fuel expansion one must question whether this is greenwash target setting. The following details are gathered on the big 4 Australian banks.
See also Market Forces: Australia’s big four banks face human rights complaint over Santos Barossa financing (4 April 2023)
(more…)Westpac have a better climate policy on export coal than Liberal or Labor
Thank You Westpac for new climate policy
On Friday members of Climate Action Moreland and supporters gathered on Sydney Road outside Westpac Bank. For a change we had something positive to say. We also had a load protest outside Commbank next door, before marching to Wills MP Peter Khalil’s office to push him past just opposing public subsidies to oppose the mine itself.
The Westpac Bank climate position statement and 2020 action plan is actually more aligned with Australia’s commitments under the 2015 Paris Agreement, in terms of the export coal industry, than either the Government or Labor opposition. That is not to say it is perfect, but Westpac Bank realize there is a transition to a zero carbon economy underway and their policy on investment in fossil fuels and especially coal is nuanced to that effect.
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Moreland Says #StopAdani: outside Westpac then Commbank Coburg on May 12
CommBank, dump Adani, dump Coal. Photo: Julian Meehan
Climate Action Moreland has joined the #StopAdani campaign(1) under the name Moreland Says #StopAdani.
We will be holding an action outside the Coburg Westpac branch (482 Sydney Rd) on Friday May 12 from 12.30pm to say thankyou to Westpac for adopting a climate policy, while not perfect, effectively rules out funding the Adani Carmichael mine and any Galilee Basin mines.
(Facebook Event)
We intend to follow this with a protest outside of CommBank Coburg branch. The Commonwealth Bank still has no policy that explicitly rules out new fossil fuel projects including the Adani project. The bank has been silent on funding Adani.
After making our presence felt outside Commbank, we will march to Peter Khalil’s office (if he doesn’t attend).
Our aims are two fold:
- to put pressure on CommBank to publicly commit not to fund Adani’s coal project, and
- for our Federal Labor MP Peter Khalil to come out in public opposition to Adani’s coal project
We are seeking endorsements from local groups. Endorsing groups will be invited to provide a speaker at this event.
Climate Action Merribek: people in Brunswick, Coburg, Fawkner and Glenroy wanting action on climate change 