Move the money out of pollution

Bank Rank: Which big 4 bank will be the first to exit gas?

The big 4 banks have publicly committed to stop financing coal by 2030 or 2035. That's great. But all 4 still invest billions each in another ageing fossil fuel that harms our climate – gas! And they have no plans to stop.

People power got the banks to quit coal. Now, we as community, customers, and shareholders can speak out again to get the banks out of gas.

You in?

Check where your bank ranks on gas, then ask them to be the first big bank to exit gas and invest in a safe future for everyone 👇

In first place: Nab

❌ In the 2022 financial year, NAB had $4.02 billion in financing of coal, oil and natural gas.

✔️ NAB has grown its financing of renewable energy to $5.36 billion – that’s more invested in renewables than fossil fuels (for every dollar NAB invested in renewables, they offered $0.75 to fossil fuels).

❌ NAB has committed to ending project financing to new or expanded thermal coal mines or coal-fired power stations. There is no commitment, however, to end corporate financing to customers with plans for new or expanded thermal coal mining.

❌ NAB may still finance new or expanded oil or gas projects through project financing and through corporate or trade financing.

❌ NAB is the only Big Four bank which has assessed the risk and opportunities of nature loss, but – like the others – NAB doesn't have a set goal to disclose or make targets  to protect or restore nature and biodiversity.

Are you with NAB? Ask them to be the first big 4 bank to exit gas today.

📞CALL NAB 📧EMAIL NAB

 

 

Coming second: Commbank

❌ In the 2022 financial year, Commonwealth had $5.09 billion in financing of coal, oil and natural gas.

❌ Their investment portfolio in renewables in the same period was $4.9 billion, meaning that for every dollar Commonwealth Bank invested in renewables, they offered $1.04 to fossil fuels.

❓ Commonwealth Bank has committed to ending project financing to new or expanded thermal coal mines or coal-fired power stations. There is no commitment, however, to end corporate financing to customers with plans for new or expanded thermal coal mining.

❌ Commonwealth Bank may still finance new or expanded oil or gas projects through project financing and through corporate or trade financing.

❌ Commonwealth Bank has neither set a target nor defined a policy to protect or restore nature and biodiversity, nor has it assessed the risks of nature loss.

Are you with Commbank? Ask them to be the first big 4 bank to exit gas today.

📞CALL COMMBANK 📧EMAIL COMMBANK

And in third place: Westpac

❌  In the 2022 financial year, Westpac had $4.54 billion in financing of coal, oil and natural gas.

❌  Their investment portfolio in renewables in the same period was $3.33 billion, meaning that for every dollar Westpac invested in renewables, they offered $1.36 to fossil fuels.

❓ Westpac has not committed to ending project financing to new or expanded thermal coal mines or coal-fired power stations. There is a commitment, however, to end corporate financing to thermal coal companies by 2030. This is exactly the opposite to the remaining Big Four.

❌ Westpac may still finance new or expanded oil or gas projects through project financing and through corporate or trade financing.

❌ Westpac has neither set a target nor defined a policy to protect or restore nature and biodiversity, nor has it assessed the risks of nature loss.

Are you with Westpac? Ask them to be the first big 4 bank to exit gas today.

📞CALL Westpac 📧EMAIL Westpac

Lagging behind in last place: ANZ

❌ In the 2022 financial year, ANZ had the most money invested in financing of coal, oil and natural gas: $7.2 billion.

❌ They also reported the smallest financing of renewable energy generation of the Big Four banks at $1.51 billion – meaning that for every dollar ANZ invested in renewables, they offered a staggering $4.77 to fossil fuels.

❓ ANZ has committed to ending project financing to new or expanded thermal coal mines or coal-fired power stations. There is no commitment, however, to end corporate financing to customers with plans for new or expanded thermal coal mining.

❌ ANZ may still finance new or expanded oil or gas projects through project financing and through corporate or trade financing.

❌ ANZ has neither set a target nor defined a policy to protect or restore nature and biodiversity, nor has it assessed the risks of nature loss.

Are you with ANZ? Ask them to be the first big 4 bank to exit gas today.

📞CALL ANZ 📧EMAIL ANZ

 

Tell the world 🌏

Think about all the people who care about our living world, and don't know that their bank is funding gas that puts it all at threat! Knowledge is power.

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