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: Westpac

Westpac has $3.35 billion invested in coal, oil and natural gas.

✔️ Between 2017 and 2021, we’ve seen Westpac divest from fossil fuels at a rate of 4% per year.

✔️ Westpac is growing its investments in renewable energy by 3% per year with more invested in renewables than fossil fuels ($0.96 in fossil fuels : $1 renewables).

✔️ In 2020, Westpac publicly announced they would stop financing thermal coal by 2030. The bank has also committed to take on no new thermal coal customers and finance no new coal basins.

❓  Last year Westpac reviewed their oil and gas policy and committed to only include new lending customers with publicly disclosed paris-aligned goals. This doesn’t go far enough.

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

📞CALL Westpac 📧EMAIL Westpac

Coming second: Nab

❌ NAB still has $4.3 billion invested in coal, oil and natural gas.

❓  Between 2017 and 2021, we’ve seen NAB divest from fossil fuels at a rate of 2% per year.This trend is far too slow for the kind of emissions reductions needed this decade.

✔️ NAB is growing its investments in renewable energy by 3% per year and is leading the pack with $0.84 invested in fossil fuels for every $1 invested in renewables.

✔️ NAB has updated their thermal coal policy and plans to reduce these exposures by 50% by 30 September 2026, intended to be effectively zero by 30 September 2030.

❌ NAB was the first of the big 4 to adopt an oil and gas specific policy in 2021. However, the policy is riddled with loopholes that would allow the bank to use corporate finance to support companies pursuing new or expansionary projects. 

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

📞CALL NAB 📧EMAIL NAB

 

 

And in third place: Commbank

❌ CommBank has $5.1 billion invested in coal, oil and natural gas.

❓  Between 2018 and 2021, we’ve seen CommBank divest from fossil fuels at a rate of 3% per year. This trend is far too slow for the kind of emissions reductions needed this decade.

❓  CommBank is growing its investments in renewable energy by 3% year but we still see $1.06 invested in fossil fuels for every $1 invested in renewables.

✔️ Commbank was the first big 4 bank in Australia to make a public commitment that they would stop financing coal by 2030. Their initiative motivated the other big banks to follow.

❌ Commbank does not currently have an exit plan for oil and gas, which means the bank can continue to freely finance new or expansion projects and companies.

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

📞CALL COMMBANK 📧EMAIL COMMBANK

Lagging behind in last place: ANZ

❌ ANZ still has $6.5 billion invested in coal, oil and natural gas, including in some of Australia’s most polluting companies, Whitehaven and Santos.

❓  Between 2017 and 2021, we’ve seen ANZ divest from fossil fuels at a rate of 4% per year. This trend is far too slow for the kind of emissions reductions needed this decade. 

❌ ANZ is growing its investments in renewable energy by 5% per year but the amount is so low that we still see $4.56 invested in fossil fuels for every $1 invested in renewables.

✔️ ANZ was the last of the big 4 banks to set an exit date for thermal coal investment, however it has committed to a full exit by 2030. 

❌ Despite claiming plans to release a specific oil and gas policy, their updated climate policy barely mentions oil and gas and leaves room for the bank to continue funding new and expansionary oil and gas projects well into the coming decades.

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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